Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Competing narratives in Malaysia Airlines disaster coverage

Read more

AFRICA NEWS

Kenya : Police arrest 8 over Mombasa rampage

Read more

FOCUS

Overfishing and the global appetite for bluefin tuna: can Tokyo turn the tide?

Read more

MEDIAWATCH

Too many graphic images from Gaza ?

Read more

FASHION

Who's next in Paris, an event with international ready-to-wear and fashion accessories collections

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

THE OBSERVERS

Muslims and Christians clean up Bangui, and violence spirals out of control in Algeria's Gardaia

Read more

IN THE PAPERS

Is there such thing as 'telegenic' victims of war?

Read more

IN THE PAPERS

2014-07-22 07:21 IN THE FRENCH PRESS

Read more

  • Israel hits targets in Gaza despite diplomatic efforts for ceasefire

    Read more

  • Flight MH17 shot down ‘by mistake', US intelligence indicates

    Read more

  • France gives go-ahead to pro-Palestinian Paris rally

    Read more

  • Video: Lebanon fears fallout from regional turmoil

    Read more

  • Conflicting rulings by two US courts cast shadow on future of Obamacare

    Read more

  • US, European airlines suspend flights to Tel Aviv over Israel-Gaza conflict

    Read more

  • Widodo wins Indonesian presidential election

    Read more

  • French Jews mourn French-Israeli soldier killed in Gaza

    Read more

  • Australian veteran Rogers claims 16th stage of Tour de France

    Read more

  • PSG punished by UEFA for abuse of disabled Chelsea fans

    Read more

  • Colombia's Rodriguez signs '€80m' contract with Real Madrid

    Read more

  • Children killed in minibus crash in eastern France

    Read more

  • Hollande says French warship delivery will ‘depend on Russia’s attitude’

    Read more

  • A call for harmony in riot-hit ‘Little Jerusalem’ Paris suburb

    Read more

  • Notorious ‘VIP’ prison in Paris closed for renovations

    Read more

Americas

Uruguay taken off tax haven blacklist

Video by Olivia SALAZAR-WINSPEAR

Latest update : 2009-09-24

Uruguay has been taken off the OECD blacklist of tax havens that had not agreed to respect international standards, following it's formal endorsement of the organisation's tax information exchange regulations.

AFP - Uruguay has been taken off the OECD blacklist of tax havens that had not agreed to respect international standards, after assurances from the country's finance minister, the organisation said Friday.
   
"The OECD welcomed today the formal endorsement by Uruguay of its tax information exchange standards," said the Paris-based organisation in a statement published on its website.
   
Uruguayan Finance Minister Alvaro Garcia had written to Organisation for Economic Co-operation and Development secretary general, Angel Gurria, formally endorsing the organisation's standards in this area, it added.
   
The letter accepted the "standards on transparency and exchange of information, as set out in the 2005 version of Article 26 of the OECD Model Tax Convention," said the statement.
   
"I am pleased that Uruguay joins a growing number of nations willing to co-operate in fighting tax evasion and other tax abuses," Gurria said in the statement.
   
On Thursday, just hours after the G20 summit agreed to crack down on tax havens, the OECD released a "league table" of countries listed according to their degree of compliance with international standards in this area.
   
Uruguay was classed in the lowest category, along with -- Costa Rica, Malaysia and the Philippines -- designating countries that had "not committed to the internationally agreed tax standard."
   
Uruguay was quick to deny the accusation.
   
"In Uruguay, we are not a tax haven. Uruguay may not be a monastery, but it is not a casino," Uruguay's President Tabare Vazquez said Friday, during a visit to Chile for the summit of center-left world leaders.
   
Central Bank chief Mario Bergara also told reporters that the country's financial system was "sound" and "serious."
   
The nation's banking was constrained by strict regulation, especially the approval of Tax Reform legislation in 2007, he added.

Date created : 2009-04-04

COMMENT(S)