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World economic group calls for global exchange of tax information to fight evasion

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States across the world are grappling for any money they can get due to the residual effects of the global financial crisis. One of the biggest areas of lost income for many countries is tax loopholes utilized by individuals and organizations alike that shuffle money overseas. The Organization for Economic Cooperation and Development has proposed to The Group of Eight that information be shared more openly between countries to regain lost income.