CARICOM Requests OECD to Postpone Harmful Tax Initiative as Channel Islands Try to Distinguish Themselves from the Old Jurisdictions (IVA)

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Monday, May 1, 2000
Bruce Zagaris
On March 15, 2000, heads of state and other leaders from the Caribbean Community (CARICOM) asked the Organization for Economic Cooperation and Development (OECD) to postpone its plan to issue at the end of June a list of offshore financial jurisdictions considered to be insufficiently supervised and offering improper tax regimes, and to start negotiating its concerns with the jurisdictions. At present, the OECD plans at the end of June to list the jurisdictions that are considered to offer “harmful” tax competition and those that it believes are open to abuse by criminals. During a meeting held between CARICOM leaders and an OECD delegation in St. Kitts, at which Sally Shelton-Colby, deputy secretary-general of the OECD, CARICOM leaders requested a delay in issuing the list and for the holding of multilateral discussions…[more]