OECD Issues Progress Report on Harmful Tax Practices and Outlines ?Defensive Actions

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Saturday, May 1, 2004
Bruce Zagaris
On March 22, 2004, the OECD issued a report and press release, stating that countries have made major progress in their efforts to eliminate harmful tax practices in their economies, modifying or abolishing more than 30 of the preferential tax regimes identified in 2000 as potentially harmful. According to a report issued by the OECD?s Committee on Fiscal Affairs, out of a total 47 preferential tax regimes cited in 2000, 18 regimes have been abolished or are in the process of being abolished, 14 have been amended so that any potentially harmful features have been removed, and 13 have been found on further examination not to be actually harmful...[more]