Vanuatu To Comply With OECD Harmful Tax Initiative by Mary Swire, Tax-News.com, Hong Kong 09 April 2003 According to reports, the Pacific tax haven of Vanuatu has agreed to go along with the demands of the OECD (Organisation for Economic Cooperation and Development) and implement measures under the Harmful Tax Initiative. The decision apparently came hot on the heels of a recent visit to the jurisdiction's capital, Port Vila, by a representative from the OECD. The organisation had previously warned that sanctions were an option being considered as a punishment for non-compliance. Vanuatu had based its previous objections on the level playing field principle, complaining that the measures being forced on them were not being adhered to by much larger and wealthier nations. .

IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.