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Commonwealth Secretariat press release

OECD, Commonwealth Agree to Work Towards Global Cooperation on Harmful Tax Practices

10 January 2001

HIGH-LEVEL CONSULTATIONS ON OECD HARMFUL TAX COMPETITION INITIATIVE, BARBADOS, 8-9 JANUARY 2001

OECD and Commonwealth countries have agreed on a way forward in efforts to achieve global cooperation on harmful tax practices through a dialogue based on shared support for the principles of transparency, non-discrimination and effective exchange of information in tax matters.

The agreement was achieved at a two-day meeting co-organised by the OECD and the Commonwealth in Barbados under the chairmanship of the Prime Minister of Barbados, the Rt Hon Owen Arthur, and attended by representatives of more than 40 jurisdictions including OECD and Commonwealth countries and jurisdictions in the Caribbean and neighbouring region. A number of international and regional organisations were also represented, including the IMF, the World Bank, CARICOM, the Caribbean Development Bank, the Inter-American Development Bank, the Centre for Inter-American Tax Administrators and the Pacific Islands Forum.

The meeting allowed participants to engage in a frank, open and ultimately fruitful exchange of views on the purpose and the implications of the OECD's initiative on harmful tax practices. In further pursuit of their dialogue, participants agreed to establish a joint working group bringing together representatives from the Commonwealth, CARICOM, the Pacific Islands Forum and OECD countries and territories.

The working group will be co-chaired by Australia and Barbados. The provisional list of members will also include Antigua and Barbuda, the British Virgin Islands, the Cook Islands, France, Ireland, Japan, Malaysia, Malta, the Netherlands, Vanuatu and the United Kingdom. The working group will hold its first meeting before the end of January in London and will make a first report ahead of a meeting to be organised in Tokyo by the Japanese Government in cooperation with the OECD and the Pacific Islands Forum on 15-16 February 2001. The remit for the working group is attached.

9 January 2001
Barbados


REMIT FOR THE WORKING GROUP


Discussion at the 8-9 January 2001 High-Level Consultations in Barbados showed that there is much common ground between participants on the substantive issues, although there remain some divergences on process. The broad principles, which we discussed - transparency, non-discrimination, effective exchange of information - gained a wide consent.

We agreed to build upon this agreement. We agreed to create a small, tightly knit joint Working Group of representatives from the Commonwealth, CARICOM, Pacific Islands Forum and OECD countries and territories.

Its task will be two-fold:

· First to take the three principles noted above and to find a mutually acceptable political process by which these principles could be turned into commitments. This process, if successful, would replace the OECD's process in the context of its Memorandum of Understanding.

· Second, to examine how to continue the dialogue begun in Barbados. The Group will examine how the recently created Global Forum on taxation can evolve into a truly inclusive Global Forum, which would promote global co-operation on tax matters. It will also identify further relevant tax issues for consideration by such a Forum.

Work on the first task will begin immediately so the outcome can be fed into the Tokyo meeting on the 15-16 February 2001. The second task will also begin immediately but can be concluded on a less tight timetable


For further information, journalists are invited to contact Helen Fisher in the OECD's Media Relations Division (tel. 33 1 4524 8097 or e-mail helen.fisher@oecd.org), Joel Kibazo, Director of the Information and Public affairs Division at the Commonwealth Secretariat (tel. 44 20 7747 6380 or e-mail j.kibazo@commonwealth.int) or Margaret Hope, Chief Information Officer, Barbados Government Information Service (tel. 1 246 427 6220 or 427 4853 or fax 1 246 436 1317)

This Press Release was jointly issued by the Commonwealth Secretariat, OECD and Government of Barbados.









01/02 10 January 2001


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