Latest update: 07/04/2009 

- OECD - Tax havens


Blacklisted OECD tax havens agree to cooperate
Blacklisted OECD tax havens agree to cooperate
Following their commitment to share information, the four countries that were on the OECD blacklist of tax havens have now been removed from the list, the organisation's secretary general, Angel Gurria, announced on Tuesday.

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AFP - All four countries listed by the OECD as being hard-line uncooperative tax havens last week have agreed to accept international tax reporting standards, the head of the OECD said on Tuesday.

This means that no country is left on the list of countries considered to be the most reluctant to respond to international pressure for increased transparency and exchange of information.

What's a tax haven?

- No or only nominal tax rates

 

- Lack of transparency

 

- No exchange of information

 

- Absence of a requirement that the activity be substantial


Source : OECD - Centre for Tax Policy and Administration

 

After the G20 summit in London agreed to crack down on tax havens last week, the Organisation for Economic Cooperation and Development listed Costa Rica, the Philippines, Malaysia and Uruguay as the most uncooperative states.

"Those four jurisdictions have now made a full commitment to exchange information," OECD chief Angel Gurria told a press conference in Paris.

"This is a very important progress," he added.

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