OECD Lists Tax Havens

Following the G20 meeting and communiqué, the Organization for Economic CO-Operation and Development [OECD] has provided a detailed report on progress by financial centres around the world on exchange of information for tax purposes.

According to the report (available here) OECD has placed Costa Rica, Malaysia, the Philippines and Uruguay on its blacklist of jurisdictions that have not committed to the internationally agreed tax standard, as part of efforts agreed at the G20 summit in London to crack down on tax evasion.

A separate “grey list” of countries that have agreed to improve transparency standards but have not yet substantially implemented the necessary international accords included Andorra, Luxembourg, Switzerland, Austria, Belgium, Singapore, Chile, the Cayman Islands, Liechtenstein and Monaco.

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