OECD Delays and Strengthens Implementation of Tax Initiatives While Target Countries React

The OECD has delayed slightly the implementation of the OECD harmful tax competition while strengthening cooperation with international organizations and informal groups friendly to the proposal. Target jurisdictions, such as Jersey and the Bahamas, have issued a statement strongly critical of the initiative. 1. OECD Delays Implementation and Works to Strengthen Cooperation with IMF and G-7 Countries The OECD has announced it would not publish the results of its initial review until June 2000. Jeffrey Owens, head of the Fiscal Affairs Division at the OECD, said the OECD plans to achieve gradual progress and not to implement measures for the next couple of years...[more]