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Nauru Removed From OECD Tax Haven List

by Mary Swire, for LawAndTax-News.com, Hong Kong

16 December 2003


It emerged this week that Nauru has been removed from the Organisation for Economic Cooperation and Development's (OECD) list of countries considered uncooperative in the fight against tax evasion.

Nauru's removal from the so-called blacklist follows the government's effective "elimination" of the offshore banking sector earlier this year, and its commitment to work with the OECD to improve transparency and put in place effective information exchange systems with OECD member states by 31 December 2005.

The tiny South Pacific country is the second to be removed from the OECD list this year, after Vanuatu secured removal in May.

The five jurisdictions which remain on the OECD blacklist are: Andorra, Liberia, Liechtenstein, the Marshall Islands, and Monaco.


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