Luxembourg has agreed to revise the laws on banking secrecy.

KommentariiNet Bay korablyu13.03.2009 "tax haven" in the world was mensheLyuksemburg ready to revise laws on banking secrecy, as well as begin to share information with other countries in cases of suspected violation of tax laws. The statement was made by the Minister of Finance and Budget of Luxembourg Luc Frieden (Luc Frieden), tells ABC News. "Luxembourg was in favor of the exchange of information on demand, but only in certain circumstances and with clear evidence" - Frieden added.
Luxembourg's finance minister, also noted that other countries, both within the EU and outside it, too, must change the laws on banking secrecy in order to avoid capital flight.
Previously, the willingness to change the law and bring it into conformity with the requirements of the Organization of Economic Cooperation and Development (OECD) said Switzerland, Liechtenstein, Belgium and Andorra. As expected, Liechtenstein will sign a cooperation agreement with the OECD in the near future. Belgium is ready to begin the revision of banking legislation in 2010, and Andorra would change the laws already on 1 September 2009.
Earlier, on March 13, Austrian authorities announced that they would not change the principles of preserving the secrecy of deposits in the banks of the country, saying that their laws do not contradict the requirements of the OECD.
Recall that the above-mentioned countries have decided to revise the banking laws, after the Governments of the "Big twenty" (G20) announced their intention to compile a "blacklist" off-shore zones. Hit the state in this list may lead to international isolation. OECD has proposed a preliminary version of the list. It included Liechtenstein, Andorra, Monaco, Switzerland, Austria, Singapore and Hong Kong.