OECD crackdown on tax havens seen lacking teeth

April 19th, 2010


DALLAS – Over the past year, the number of countries on an Organization for Economic Cooperation and Development “gray list” of tax havens that have not fully implemented internationally agreed upon tax standards has dropped to 17 from more than 40.

The OECD hails this as progress in a campaign to stamp out untaxed and illicit cash flows across the world, but critics say that the compliance bar was set far too low.

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