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Towards a Level Playing Field,
second edition.


Report undertaken by Stikeman Elliott on behalf of the ITIO and STEP.

 


PRINCIPLES OF A LEVEL PLAYING FIELD



1. Operate an inclusive process at all stages


Individual jurisdictions, as well as special interest groups and cartels made up of like-minded jurisdictions, will naturally seek to protect and maintain their economic competitiveness when providing cross-border financial services.

Accordingly, any new rules must be developed in an inclusive process, involving universal agreement and implementation by all states on the same time frame, with the same consequences for non-co-operation

2. Work through a universal forum

Universal participation is a cornerstone of any legitimate process. Countries are also more inclined to want to implement regulations which they have had a part in developing.

All jurisdictions that will be affected by a process must have genuine and substantial participation in defining the concerns to be addressed, designing the solutions and determining the ultimate outcome of the process if obligations are to apply to them.



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IT’S OFFICIAL: OECD TAX PROJECT DEPENDS ON LEVEL PLAYING FIELD

In a groundbreaking decision, the OECD has committed itself to working with members of the ITIO and other countries that provide international financial services to achieve a level playing field for the exchange of tax information.





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