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Towards a Level Playing Field,
second edition.


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

 


11 May 2001

ITIO welcomes O'Neill statement, wants equal involvement for SDEs in setting tax standards

Following a meeting in London on 9-11 May of the International Tax and Investment Organisation (ITIO), which comprises twelve small and developing economies (SDEs), Lynette Eastmond, Director of the ITIO Secretariat, said:

"We are encouraged by the statement from United States Treasury Secretary O'Neill on the OECD's 'harmful tax competition initiative'. In particular, we support the strong position taken by the U.S. Government against criminal tax evasion.

"Like the US, we believe in rules that do not stifle competition.

"We also share Secretary O'Neill's concern about potentially unfair treatment of non-OECD countries. We believe that all countries, OECD and non-OECD alike, should play by the same rules, and that standards should be developed in a truly inclusive international forum that involves everyone.

"We hope and expect that the refocusing of the OECD process will lead to the involvement by right of ITIO members and other small and developing economies as equal participants in setting any new international taxation standards."

For further information, please contact Ben Coleman
(Tel. +44 20 7526 3603, + 44 7958 616 444)

EXPLANATORY NOTE


On 10 May 2001, Treasury Secretary Paul O'Neill issued a statement about the OECD's "harmful tax competition initiative", saying, "The work of this particular OECD initiative…must be refocused on the core element that is our common goal: the need for countries to be able to obtain specific information from other countries upon request in order to prevent the illegal evasion of their tax laws by the dishonest few. In its current form, the project is too broad and it is not in line with this Administration's tax and economic priorities."

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ITIO THANKS COMMONWEALTH SECRETARY-GENERAL

The ITIO has thanked Commonwealth Secretary-General McKinnon for his stance following the publication of an OECD report, 'Tax Co-operation: Towards  a Level Playing Field'...



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