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. OECD: Overview On Countering International Tax Evasion

OECD: Overview On Countering International Tax Evasion

by Robin Pilgrim, LawandTax-News, London

22 September 2009


In the run up to the G20 meeting in Pittsburgh, the OECD has published ‘An Overview Of The OECD’s Work In Countering Tax Evasion’. The following are significant excerpts:

  • 'All OECD countries now accept Article 26 (Exchange of Information) of the OECD Model Tax Convention, as updated in 2005, following the withdrawal by Austria, Belgium, Luxembourg, and Switzerland of their reservations to Article 26. These four countries are actively negotiating updates to their treaty networks. Belgium and Luxembourg have each already signed at least 12 agreements that meet the standard, and Switzerland has initialed 12 with OECD countries.'
  • 'Hong Kong (China), Macao (China) and Singapore – three jurisdictions that are amongst those surveyed by the Global Forum – have each announced that they will put forward relevant legislation in 2009 in order to comply with the internationally-agreed standard.'
  • 'More than 90 tax information exchange agreements (TIEAs) have been signed or announced since last November, and over 130 TIEAs have been signed overall. In addition, scores more have already been initialed or are being negotiated.'
  • 'Andorra, Liechtenstein and Monaco – identified by the OECD in 2002 as uncooperative tax havens – have endorsed the OECD standards and indicated their willingness to change their domestic legislation and to enter into agreements for the exchange of information. Each of these jurisdictions has already signed first agreements.'
  • 'Since the issuance of the 2nd April Progress Report, nine jurisdictions – Aruba, Austria, Belgium, Bermuda, British Virgin Islands, Bahrain, Cayman Islands, Luxembourg, and the Netherlands Antilles – have signed enough agreements so that they can now be considered to have substantially implemented the internationally-agreed tax standard.'
  • 'Prior to the issuance of the 2nd April Progress Report, Brunei and Guatemala wrote to the OECD to formally endorse the internationally-agreed tax standard and identify the steps or to be taken this year to implement the standard.'
  • 'Costa Rica, Malaysia, the Philippines and Uruguay, originally identified in the 2nd April Progress Report as not having endorsed the internationally-agreed tax standard, have now done so and have identified concrete steps to be taken this year to implement it.'
  • 'With these endorsements, all countries surveyed by the Global Forum have now endorsed the standard.'

A comprehensive report in our Intelligence Report series tracing in detail the course of the last six years both globally and at jurisdiction level, explaining precisely what you get - and don't get - for your money in all of the main offshore jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report1.asp
TAGS: Curaçao

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 

Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

 Email: 
 Password: 

Login »

Forgotten your password?







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 »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

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 »