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2000: The OECD produces its first formal list of 35 tax havens who have met two of three OECD Criteria; none of the existing 35 OECD members, or EU–28 members, were listed as tax havens. [29] By 2008, only Trinidad & Tobago met the OECD's Criteria to be a tax haven. [56] Academics start using the terms "OECD tax havens" and "EU tax havens".
Most corporate tax structures in modern corporate tax havens are OECD–whitelisted. [17] The OECD has been a long-term supporter of IP–based BEPS tools and cross-border intergroup IP charging. All the corporate tax havens signed the 2017 OECD MLI and marketed their compliance, however, they all opted out of the key article 12 section; [18] [9]
Academic leaders in tax haven research, and other non–governmental organizations, point to the role of OECD and EU tax havens in tax avoidance from base erosion and profit shifting (BEPS) schemes, like the Double Irish, the Single Malt and the Dutch Sandwich. [31] [32] [33] They regard them as major tax havens in their definitions of tax ...
The report focused on tax havens in the Caribbean who were not OECD members, and the OECD was thus criticized for not addressing tax havens who were its members. A second report in 2000 included a blacklist of 35 secrecy jurisdictions - all outside the OECD - and a threat of defensive measures against them, with backing from the United States ...
In a 2010 research paper, Hines produced a revised list of 52 tax havens, and also a method of quantifying and ranking the largest of them (Hines did not rank the whole list). [26] Only two of the ten largest havens in Hines' 2010 list appeared in the OECD's 2000 list of tax havens (by 2017, the OECD list only contained Trinidad & Tobago). [40]
Tax haven experts explain these contradictions as resulting from the different agendas of the major OECD taxing authorities, and particularly the U.S., [13] and Germany, who while not themselves considered tax havens or corporate tax havens, rank #2 and #7 respectively in the 2018 Financial Secrecy Index of tax secrecy jurisdictions: [135] [298 ...
Microsoft maintains five tax haven subsidiaries and held $76.4 billion overseas in 2013, thus saving the corporation $24.4 billion in taxes; Citigroup maintained 21 subsidiaries in tax haven countries in 2013, and kept $43.8 billion in offshore jurisdictions, thus saving the corporation an additional $11.7 billion in taxes. [70]
Despite this, Panama does not appear on the Tax Justice Network's top ten list for financial secrecy, [13] with Alex Cobham of Tax Justice Network saying "There is a double standard: many developed countries host or support jurisdictions where there is an absence of financial transparency".