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(Δ) Identified on the largest OECD 2000 list of 35 tax havens (the OECD list only contained Trinidad & Tobago by 2017); only four locations below were ever on an OECD list. [29] (↕) Identified on the European Union's first 2017 list of 17 tax havens; [61] only one location below is on the EU 2017 list.
Harmful Tax Competition: An Emerging Global Issue is a report issued by the Organisation for Economic Co-operation and Development's Centre for Tax Policy and Administration. In the report, the OECD groups countries into three categories: member country preferential regimes, tax havens , and non-member economies, and establishes criteria for ...
In April 1998 an OECD report acknowledged that tax havens erode the tax base of other countries and undermine the fairness of tax systems, diminishing global welfare. [10] It noted that tax havens were expanding at an exponential rate.
In the 1970s and 1980s, according to data from the E.U. Tax Observatory, barely any profits were shifted to tax havens, countries like Bermuda and Ireland where companies based in relatively ...
Other countries are planned to be brought into the scope from 2020 onwards. [2] On 27 March 2019, the European Parliament voted by 505 in favour to 63 against of accepting a new report that likened Luxembourg, Malta, Ireland and the Netherlands, and Cyprus to "display[ing] traits of a tax haven and facilitate aggressive tax planning".
A majority (64%) of the forgone revenue is pegged to multinational corporations that can still — despite efforts at international tax reform by the OECD over the past decade — engage in profit ...
On 22 October 2008, at an OECD meeting in Paris, 17 countries led by France and Germany decided to draw up a new blacklist of tax havens. It had been asked to investigate around 40 new tax havens where undeclared revenue was hidden and which hosted many of the non-regulated hedge funds that came under fire during the financial crisis of 2007–08.
Part of the issue there is tax havens, with smaller and less developed countries keen to see a greater share of the tax revenue claimed by multinational corporations that operate in their ...