Market government organization Essay Example | Topics and Well Written Essays - 250 words

Market government organization - Essay Example The three banks that have most offshore accounts are UBS, Credit Suisse and Goldman Sachs. While US, UK and Germany are doing a great deal to bring to line the rogue tax evaders, more effective policy change and stringent punishments must be enacted to promote transparency and prevent tax evasion. Transparency laws should become compulsory, especially for banks and make accessibility f data easy for everyone, including foreign agencies and individuals. Hence, banks and banking laws should come under the purview of international laws along with local laws. Indeed, the governments cannot take actions if they are bound by international laws and local laws of countries where the money is stashed. Access to information becomes a critical issue that can significantly discourage tax evasion. Stringent punishment would further deter the tax evaders as well as banks and help developing and under developed economies to make fast socio-economic