Six tax havens escape blacklist.
The OECD has announced that six tax havens have made commitments to eliminate ‘harmful tax practices’ by the end of 2005. The organisation, which represents industrialised countries, is to publish a blacklist of around 47 jurisdictions suspected of harmful tax practices. This week it welcomed ‘advance commitments’ from Bermuda, Cayman Islands, Cyprus, Malta, Mauritius and San Marino just days before it was due to publish the report. The six jurisdictions, it said, had demonstrated their backing for international tax standards for transparency, exchange of information and fair tax competition. The report, due to be published on Monday, has been compiled by the OECD Committee on Fiscal Affairs and details the status of its work in eliminating harmful tax practices. Later next week, the OECD is due to launch a ‘global dialogue’ on the issue. www.oecd.org.