European G20 members are seeking reform of UK trust law to improve tax transparencyBritain is reported to be resisting pressure from fellow European countries to build the ownership of trusts and foundations fully obvious in the wake of the Panama Papers revelations.
At a G20 meeting in Washington,finance ministers from France, Italy, or Spain and Germany are understood to have advocated that countries should build it harder for wealthy individuals to conceal behind trusts in order to shelter assets from tax authorities.
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Source: theguardian.com