Published on 01 Jan 07
by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE
In the late 1990s, the OECD launched its report on Harmful Tax Competition – An Emerging Global Issue. The goal of the OECD was to eliminate or regulate harmful preferential tax regimes for mobile financial capital, including tax havens. By 2001, the OECD consensus, already shaky as a result of abstention by Switzerland and Luxembourg, was breached by the United States and the OECD backed away from strong sanctions against tax havens. The focus of the OECD project subsequently shifted towards less onerous exchange of information obligations. This review essay discusses recent research into the OECD’s attempt at regulating harmful tax competition.
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