International Tax Competition

Globalisation and Fiscal Sovereignty

image of International Tax Competition
International tax competition has come to the forefront of global economic policy debate at the outset of the 21st Century. The importance of taxation regimes as an essential factor in driving economic growth, investment inflows and national development has increasingly been recognised.

However, there have also been growing concerns amongst the European Union and the OECD countries that tax competition can be harmful to their economies. A large number of Commonwealth developing countries are now potentially affected by the EU and OECD initiatives to regulate international tax competition.

This book provides a collection of articles by experts from Commonwealth countries on international tax competition, considering the concerns of affected nations. Issues such as globalisation and fiscal sovereignty, WTO issues, and economic development perspectives are considered with particular reference to the concerns of small and developing economies of the Commonwealth.



The OECD Harmful Tax Competition Policy: A Major Issue for Small States

On 26 June 2000, the OECD released its report, Towards Global Tax Cooperation: Progress in Identifying and Eliminating Harmful Tax Practices. The report listed 35 jurisdictions (nearly all small states) which are deemed to be ‘tax havens’ using criteria developed in the OECD’s 1998 report, Harmful Tax Competition: An Emerging Global Issue. Following the 1998 Report, the OECD set up the Forum on Harmful Tax Practices. The June 2000 Report was the outcome of the work of the Forum, which was agreed by the OECD Council.


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