| Description |
1 online resource (44 pages) |
| Series |
IMF country report ; no. 11/78 |
|
IMF country report ; no. 11/78
|
| Summary |
1. The tax haven model - intensifying pressure to change. For years, the Sammarinese economy benefited from its tax haven and bank secrecy status. Banks were able to attract substantial deposits from abroad, helping to propel system assets to around 900 percent of GDP by end-2008, while boosting income and employment growth. However, under pressure from larger economies, tax havens around the world have been forced to embrace greater transparency. In this context, San Marino is currently undergoing a strategic review of its business model and has made some progress on enhancing financial transparency. Italy has added to the pressure by increasing its crackdown on tax havens. It launched a tax amnesty in September 2009 and, in July 2010, extended the impact of an earlier inclusion of San Marino on a 'blacklist' of tax haven countries, further straining relations between the two countries. 1 |
| Notes |
Online resource; title from PDF title page (IMF Web site, viewed June 28, 2011) |
| Subject |
International Monetary Fund -- San Marino.
|
|
Economic indicators -- San Marino.
|
|
San Marino -- Economic conditions.
|
|
San Marino -- Economic policy.
|
| Form |
Electronic book
|
| Author |
International Monetary Fund.
|
| ISBN |
128355626X |
|
1455229091 |
|
1455229113 |
|
1462368727 |
|
9781283556262 |
|
9781455229093 |
|
9781455229116 |
|
9781462368723 |
|
