This doesn't sound much like a continuation of the 'bare-knuckle fist fight' that took place between the OECD and offshore jurisdictions from the Pacific and the Caribbean in Barbados in January, and in London in February. Ten days ago, after the London meeting, the Global Tax Forum (the grand name for the joint group in which the black-listed offshore jurisdictions hoped to get on level terms with their tormentor), with support from the Commonwealth and the US Centre for Freedom and Prosperity, was hoping to turn the Tokyo meeting into a further opportunity to level the scales with the OECD.

The OECD however continues to describe the meeting in the same terms it used for Barbados, saying that it and the Pacific Islands Forum are 'jointly planning to hold a workshop on tax issues in the global environment'. The OECD says that the workshop is designed to provide an opportunity for 'an exchange of views between Pacific Islands Forum members and OECD countries on international tax issues, with a view to advancing mutual understanding and identifying ways in which this dialogue can be continued on a co-operative basis.'

The OECD hopes that the meeting will be attended by officials from 12 Pacific Islands Forum members and 9 OECD countries. The Chair and the Vice-Chair of the OECD's Committee on Fiscal Affairs are also expected to attend. The OECD's statement explains that delegates can expect to 'examine what measures may be needed to improve the offshore jurisdictions' administrative and regulatory capabilities. They will also review, where appropriate, ways of providing assistance to improve the tax administrations of Pacific Island jurisdictions and to restructure their economies.'

Seven member countries of the Pacific Islands Forum have been listed by the Organisation of Economic Cooperation and Development (OECD) as offering harmful tax competition: The Cook Islands, Marshall Islands, Nauru, Niue, Samoa, Tonga and Vanuatu. The jurisdictions have until July 31 to agree to an OECD Memorandum of Understanding on tax matters or they'll be threatened with 'defensive measures' from the OECD.

Now the Japanese and the OECD have both put their separate spins on the upcoming meeting, it's time for the Commonwealth, the Caribbean and Pacific jurisdictions, and the CFP to say what they hope to achieve in Tokyo.

In an interesting, parallel development, some commentators have begun to speculate that the OECD's threatened actions against offshore jurisdictions could break the WTO's discrimination rules. Speaking in Panama earlier this week, Mark Warner, one of the OECD's commercial legal counsel until two years ago, said at a conference: "This case has many elements of prima facie discrimination. It is very important to make clear in discussions (with the OECD) that you have legal rights."

Under WTO rules, however, the OECD would probably have had to apply its threatened sanctions before a case could be brought. But the mere possibility of WTO action may mean that the organisation's threats are really quite hollow.