OECD Tax Report: Gibraltar Has Not 'Delayed Signing Anything'

by Amanda Banks, Tax-News.com, London

11 October 2001

The Gibraltar government has issued a statement to rebuff a story carried by the Gibraltar Chronicle which said that the OECD was discussing the position of Gibraltar after it 'delayed signing in July which had been the original deadline.'

The government says that in June the OECD decided to extend the deadline to November to allow tax havens more time to sign a document agreeing to the OECD's demands on eliminating harmful tax practices. 'It is not true that Gibraltar has delayed signing anything,' the statement reads, 'indeed, the Government now understands that the deadline may soon be further extended. Only one territory has given the commitment since July.'

The statement continues to confirm that the policy and intention of the government as to the giving of the commitment remains the same, namely, that Government envisages giving the commitment, before the deadline, on the understanding that there has to be a genuine global level playing field.

The government also criticises Spain which has prevented the OECD from publishing its July update report on tax havens unless its position in relation to the sovereignty of Gibraltar is protected. In addition, says the government: 'Spain is now apparently objecting to OECD officials even continuing to meet directly with Gibraltar Government officials. Such meetings have been taking place with Gibraltar during the last two years - as with all other territories listed as tax havens. The Gibraltar Government remains happy to continue to meet with the OECD as before and has requested such further meetings.'

The government concludes that it 'deeply regrets the publication of false information which appears to confuse Gibraltar's position on the issue of giving the required commitment on tax to the OECD (which position remains unchanged and positive) with Spain's last minute sabotage of the whole OECD project by its usual trick of playing its "Gibraltar card" at the last minute when it generates maximum pressure on all other parties.'

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