UN General Assembly
2016

The lack of regulation has paved the way for tax evaders and has made the work of tax authorities more complex. It constitutes a major threat to State funding worldwide, which undermines the ability of Governments to meet their enormous responsibilities to their citizens. We therefore applaud any initiatives that promote greater regulation of tax havens. We also know that the regulation of tax havens must be part and parcel of a larger system of effective public regulation and monitoring of financial markets, so that they can serve the real economy and its citizens.