OECD Removes Marshall Islands From Tax Haven Black List
The Organisation for Economic Cooperation and Development (OECD) has removed
the Marshall Islands from its list of 'uncooperative tax havens', after the state
made a commitment to implement a programme to improve transparency, and to establish
effective exchange of information in tax matters. As a result of this commitment, the Marshall Islands becomes the second country
in the past month, following Liberia, to be removed from the OECD’s list
of uncooperative tax havens. Only 3 countries remain on the OECD 'blacklist': Andorra, Liechtenstein and Monaco. The Marshall Islands joins 34 other jurisdictions that have made similar commitments.
According to the OECD, its work in this area is designed to enable countries
to enforce their tax laws fully and fairly, by ensuring that they can obtain
from other countries relevant information when needed. A recent report, “Tax Co-operation: Towards a Level Playing Field –
2006 Assessment by the Global Forum on Taxation”, shows that most countries
have made - in the OECD's view - considerable progress in implementing transparency and exchange of
information standards, although it notes that further progress is still needed
in some countries. A comprehensive report in our Intelligence Report series examining offshore confidentiality is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report1.asp
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