Deposit rules against tax cheats adequate — BSP

The Bangko Sentral ng Pilpinas yesterday declined calls to further liberalize laws on bank deposits, claiming that there is no need to do so since current rules are enough to combat tax evaders.

The Central Bank made the reaction after the Paris-based Organization for Economic Cooperation and Development (OECD) has included the Philippines in a list of countries that are not doing enough to clamp down on tax cheats.

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