This paper explores recent developments regarding financial privacy with a special focus on taxation. After introducing the concept of privacy and linking it to financial information, we will move on to the principles of taxation, compliance and evasion. The next part identifies the major interest groups focusing on the role of the Organisation for Economic Cooperation and Development. In the next part, the case of Switzerland will be presented. One aim is to show that with the current financial crisis, governments are in the unique position to push forward their calls for information disclosure as well as the loosening of banking secrecy and that it is very unlikely to find strong supporters of financial privacy. I will also argue that in the discussions about tax evasion a lot of “black and white painting”. is conducted especially by high-tax jurisdictions, but that there is a strong notion of hypocrisy.
How to Cite:
Knosalla, K., 2009. Tax Havens, Evasion and Banking Secrecy: A Review of the State of Financial Privacy vs. Financial Transparency. iSCHANNEL, 4(1), pp.32–37.