Statement by Rt Hon. Owen Arthur, Prime Minister of
Barbados, on the creation of an International Tax
and Investment Organisation
non-OECD countries convened in Paris on the occasion
of the second Meeting of the Joint Working Group on
Cross-Border Tax Matters have decided to constitute
a technical group in the form of an International
Tax and Investment Organisation (ITIO).
ITIO will have as its main objective the development
of a balanced approach to international tax and investment
issues, taking into consideration differences in size
and level of development of countries.
immediate remit of the ITIO will be to establish a
working group to coordinate a response of the non-OECD
jurisdictions to the OECD initiatives on tax and investment
remit will also include:
Articulation, co-ordination and implementation of
a strategy to carry out research and other technical
analysis to support the development of an implementation
plan, further to the objective of achieving international
and advice to support the participation of the non-OECD
countries in a forum for international co-operation
on tax matters; and
of assistance (including assistance with policy, legal
and economic matters) required by non-OECD jurisdictions.
The first meeting of the ITIO will be held in London
in mid-March to develop a work programme.
It will be hosted by the Commonwealth Secretariat.
further information, please contact Ben Coleman
(Tel. +44 20 7526 3603, + 44 7958 616 444)
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