PARIS - The OECD has placed Costa Rica, Malaysia, the Philippines and Uruguay on its blacklist of non-cooperative tax havens, as part of efforts agreed at the Group of 20 summit to crack down on tax evasion.
A separate "grey list" of countries that have agreed to improve transparency standards but have not yet signed the necessary international accords included Luxembourg, Switzerland, Austria, Belgium, Singapore and Chile as well as the Cayman Islands, Liechtenstein and Monaco.
China is on a third "white list" of jurisdictions that have substantially implemented the internationally agreed tax standards. But the OECD said China's two Special Administrative Regions of Hong Kong and Macao had so far only "committed to implement" the internationally agreed tax standard."
Earlier, the Group of 20 leading industrialized and emerging nations pledged to take action including sanctions against non-cooperative jurisdictions, including tax havens, using information from the OECD as its basis.
The non-cooperative centers are accused of harboring foreign tax avoiders who park billions of dollars out of reach of their home authorities.
Say what you like about 'taxes'... but they have their uses and purposes.
Probably far beyond what most people see or hear, and certainly in areas most of us take for granted.
I'm not saying they are at the right levels. Lord knows they could be way lower :-P, but don't think for one moment they're not necessary.
Just my opinion of course ;-]
(here comes the flaming...)
I don`t particularly mind taxes, it`s just I`m not too keen on helping to give our M.Ps pay rises when normal people are having their wages cut, or are being made redundant. Or, paying for top bank bosses to retire on half a million pounds a year pensions. Somehow seems all a little bit obscene.
As for MPs second home allowances...best not even go there!
Uruguay almost immediately protested this and have subsequently been moved (along with the other three countries) to the white list after adopting the OECD guidelines.
They all almost immediately issued statements saying they'd go along with the OECD's plans. Just like all the other countries. It's a sad time for tax havens.
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Four countries on OECD tax haven blacklist
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