CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. ITIO Calls For Consistency From OECD

ITIO Calls For Consistency From OECD

by Amanda Banks, Tax-News.com, London

25 October 2001


Following the fourth meeting of the International Tax and Investment Organisation (ITIO) earlier this month, member countries of the Organisation, a grouping of small and developing economies (SDEs), called for a consistent approach from the Organisation for Economic Cooperation and Development.

The ITIO met to discuss tax, e-commerce, trade, and security issues in the wake of the September 11th terrorist attacks, and although they agreed that there was a need for greater transparency within the international community, they asked the OECD to ensure that there would be a 'level playing field' in terms of information exchange, with larger industrialised countries complying with the same strict standards set for the SDEs.

ITIO members expressed concern over the sanctions threatened by the OECD for countries that failed to make the required changes to their taxation systems, arguing that any action could constitute a non-tariff barrier to trade in services, which would go against existing multilateral trade obligations.

They also expressed fears that e-commerce service providers exporting from small and developing countries would be adversely affected by planned EU and OECD initiatives, and asked for more consideration on this issue.

After the meeting, the Director of the ITIO Secretariat, Lynette Eastmond, expressed the organisation's sympathy for the victims of the attacks, and solidarity with the international fight against terrorism, vowing that: 'We are determined to cooperate fully with the United States and the coalition against terrorism...We will continue to work with other free and democratic governments to cut off terrorists' access to funds.' However, in a clear barb at politicians and the international media, who have scapegoated the offshore world somewhat since the attacks, she added: 'There is no automatic connection between countries with low or zero tax rates and terrorism.'


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »