Latest twist in the OECD saga

The decision by the US to temper its support for the OECD in its efforts to discourage predatory taxation is the latest twist in a campaign that many offshore centres have seen as a fight for their very existence. The OECD attracted criticism for its hard-line stance when it was first compiling its 'grey' list. Regulators and officials complained of a lack of clarity in what was being asked for and an intransigence about acceptable standards for transparency and information exchange. As agents of the OECD (and their colleagues at the FATF) started to examine the various financial centre...