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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
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| OECD: Overview On Countering International Tax Evasion |
by Robin Pilgrim, LawandTax-News, London
Tuesday, September 22, 2009
In the run up to the G20 meeting in Pittsburgh, the OECD has published ‘An Overview Of The OECD’s Work In Countering Tax Evasion’. The following are significant excerpts: -
'All OECD countries now accept Article 26 (Exchange of Information) of the OECD Model Tax Convention, as updated in 2005, following the withdrawal by Austria, Belgium, Luxembourg, and Switzerland of their reservations to Article 26. These four countries are actively negotiating updates to their treaty networks. Belgium and Luxembourg have each already signed at least 12 agreements that meet the standard, and Switzerland has initialed 12 with OECD countries.'
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'Hong Kong (China), Macao (China) and Singapore – three jurisdictions that are amongst those surveyed by the Global Forum – have each announced that they will put forward relevant legislation in 2009 in order to comply with the internationally-agreed standard.'
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'More than 90 tax information exchange agreements (TIEAs) have been signed or announced since last November, and over 130 TIEAs have been signed overall. In addition, scores more have already been initialed or are being negotiated.'
- 'Andorra, Liechtenstein and Monaco – identified by the OECD in 2002 as uncooperative tax havens – have endorsed the OECD standards and indicated their willingness to change their domestic legislation and to enter into agreements for the exchange of information. Each of these jurisdictions has already signed first agreements.'
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'Since the issuance of the 2nd April Progress Report, nine jurisdictions – Aruba, Austria, Belgium, Bermuda, British Virgin Islands, Bahrain, Cayman Islands, Luxembourg, and the Netherlands Antilles – have signed enough agreements so that they can now be considered to have substantially implemented the internationally-agreed tax standard.'
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'Prior to the issuance of the 2nd April Progress Report, Brunei and Guatemala wrote to the OECD to formally endorse the internationally-agreed tax standard and identify the steps or to be taken this year to implement the standard.'
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'Costa Rica, Malaysia, the Philippines and Uruguay, originally identified in the 2nd April Progress Report as not having endorsed the internationally-agreed tax standard, have now done so and have identified concrete steps to be taken this year to implement it.'
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'With these endorsements, all countries surveyed by the Global Forum have now endorsed the standard.'
A comprehensive report in our Intelligence Report series
tracing in detail the course of the last six years both globally and at jurisdiction
level, explaining precisely what you get - and don't get - for your money in
all of the main offshore jurisdictions, is available in the Lowtax Library at
http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report1.asp
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