A SECOND draft bill filed in Washington designed to deter offshore tax evasion includes less-draconian measures, a compliance and financial crimes lawyer has claimed.

Stephen Platt (pictured), chairman of the Jersey-based BakerPlatt Group, said the latest bill would be more favourable to Guernsey and Jersey than the existing Stop Tax Haven Abuse Bill.

He added that there was no doubt that the US would act against offshore tax havens but at present there was no consensus about how to proceed.

The Stop Tax Haven Abuse Bill, instigated by Senator Carl Levin, has to date found support from only four of 100 Senators and 62 co-sponsors in the 450-seat House of Representatives and is therefore losing some of its momentum.

Its progress has been further disrupted by the announcement of an alternative bill by Senator Max Baucus, chairman of the Senate’s finance committee.

‘For Washington to take no action is not an option. There are two distinct proposals on the table and my instinct is that the Baucus alternative is preferred. Senator Baucus is close to the administration, he is a leading Democrat and he heads an extremely influential committee,’ said Mr Platt.