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Jurisdictions Cleared From OECD Blacklist,
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, April 09, 2009
OECD Secretary-General, speaking to a press conference this week, announced recent
commitments to the internationally agreed tax standard on exchange of information
by Costa Rica, Malaysia, Philippines and Uruguay.
These were the four jurisdictions surveyed by the OECD Global Forum which had
not made commitments as of April 2. They have now officially informed the OECD
that they commit to co-operate in the fight against tax abuse, that this year
they will propose legislation to remove the impediments to the implementation
of the standard and will incorporate the standard in their existing laws and
treaties. As a result, they have been moved to the category of ‘jurisdictions
that have committed to the internationally agreed tax standard, but have not
yet substantially implemented’ in the OECD progress report first issued
on 2 April.
At a joint press conference with EU Commissioner László Kovács,
the Secretary General of the OECD Angel Gurria said: “We continue to see
quick progress in the adoption of the OECD standard. I very much welcome that
all jurisdictions surveyed by the OECD Global Forum are now committed. We need
a level playing field and are looking forward to quick implementation of the
standard.”
The progress report issued by the OECD on April 2, following the G20 London
Summit, shows progress in the implementation of the standard on exchange of
information for tax purposes. The OECD will now work in the framework of its
Committee on Fiscal Affairs and the Global Forum with all jurisdictions concerned
on the implementation of these commitments, speeding up the process of concluding
and negotiating tax information exchange agreements, achieving a swift and effective
implementation, reviewing our Global Forum, and engaging developing countries,
concluded the OECD statement.
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