TaxCorporate TaxSuccess for OECD in tax havens battle

Success for OECD in tax havens battle

The Organisation for Economic Cooperation and Development's drive to improve the transparency of offshore financial centres, has been boosted after one blacklisted island committed to reforms.

Link: Cashing in on a paradise island

The Pacific island of Vanuatu will be removed from the OECD’s blacklist of non-cooperative tax-havens after it committed itself to improve the ‘transparency of its tax and regulatory systems and to establishing effective exchange of information for tax matters with OECD countries by 31 December 2005’.

According to the OECD, Vanuatu is the first tax haven to be removed from the list, which was first published in April 2002.

Now the OECD is hoping the remaining six blacklisted tax havens, Andorra, Liechtenstein, Liberia, Monaco, The Marshall Islands and Nauru, will make similar commitments.

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson