OECD removes the Marshall Islands from its List of Uncooperative Tax Havens
The OECD is pleased to announce that the Republic of the Marshall Islands has made a commitment to implement a programme
to improve transparency and to establish effective exchange of information in tax matters.
As a result of this commitment, the Marshall Islands becomes the second country in the past month, following Liberia, to
be removed from the OECD's list of unco-operative tax havens. Only 3 countries remain on the OECD's list of
unco-operative tax havens: Andorra, Liechtenstein and Monaco.
The Marshall Islands joins 34 other jurisdictions that have made similar commitments aimed at ensuring an environment in
which all significant financial centres meet high standards of transparency and exchange of information for tax
purposes.
The OECD's work in this area is designed to enable countries to enforce their tax laws fully and fairly, notably by
ensuring that they can obtain from other countries relevant information when needed.
A recent report, "Tax Co-operation: Towards a Level Playing Field - 2006 Assessment by the Global Forum on Taxation",
shows that most countries have made considerable progress in implementing transparency and exchange of information
standards, although it notes that further progress is still needed in some countries.
ENDS