TaxPersonal TaxOECD’s tax haven black list delayed

OECD's tax haven black list delayed

The Organisation for Economic Cooperation and Development has put off publishing a black list of tax havens while sensitive talks continue with the US.

The list, which would reveal which tax havens had decided to cooperate with OECD requirments on what it calls ‘harmful tax regimes’, was due on 31 July but now looks like it will be postponed for at least four months.

OECD moves on offshore tax regimes appear blocked after the US Treasury expressed doubts about its validity. The initiative was supported by former president Bill Clinton’s administration, but under George Bush, the OECD crackdown is considered to be out of sync with the government’s thinking.

Last month the OECD said it would continue with its plans to get as many tax havens to co-operate and reform their tax systems.

Talks have been ongoing and the OECD has been treating them as ultra sensitive in the hope of getting the US back on board.

The Isle of Man is one of four regimes to come off the list after giving a qualified agreement to OECD measures.

Links

OECD pledges to continue with crackdown

Tax havens act to avoid blacklist

OECD progresses on tax practices

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