Exclusive interview with OECD on TJN’s report on AIE proposals

   0   0 Blog, Information Exchange

International Tax Review has just published an exclusive interviewweb_pascal20saint-amans-2013-zazzo_mg_0729-469x239 with the OECD’s Pascal Saint Amans concerning our new report on the proposals for a new international standard for automatic information exchange.  As our report title implies, we might be approaching an historical moment in our long struggle against global tax havenry (witnessed, for example, by Luxembourg’s long overdue capitulation this week to work within the automatic information exchange process of the EU’s savings tax directive).

Our report is broadly positive about the general direction of the OECD’s work:

The OECD’s new report could be the first big step towards assembling the nuts and bolts of real change . . . there are many positive details in the (OECD) report: it is wide in its scope, covering not just individuals but trusts and foundations, and various investment entities.  There is a special focus on due diligence checks, a crucial element in any transparency regime.

Yet we see weaknesses, not least in the OECD’s process, which has involved prominent tax haven players directly in the Global Forum process of consulting with developing countries on how to frame a global standard that takes account of their needs:

Yet there are a number of shortcomings in the OECD report. Some are technical, others are political. We are concerned that powerful tax haven interests have inserted themselves into positions of influence in the OECD and forthcoming Global Forum process. There is a risk that in the next months, many of the required adjustments and clarifications will be watered down. This could happen either through fierce direct financial sector lobbying efforts, or in the disguise of state representatives of captured states who defend their own financial services industry.Furthermore, the way developing country interests have been heard or taken into account is far from acceptable and once more challenges OECD’s and the Global Forum’s role in setting legitimate international tax standards.

In his response, Pascal Saint-Amans points out that an increasing number of developing countries are joining the Global Forum process, and comments: “The Global Forum will look into the particular concerns of developing countries which have a right to benefit from transparency.”  He also notes that the OECD’s contacts with TJN have made it “smarter”.

The full ITR interview is available (free) here.

Our report on the OECD proposals is available here.

Read on.







Related Posts

The Offshore Wrapper: the Panama Papers, one year on

Photos from the Protest outside PwC 1 Embankment Place, part of the Global week of action for tax justiceWelcome to the Offshore Wrapper – your weekly update from TJN.  Happy Paniversary! This week it’s been one year since the Panama Papers were leaked, and a number of organisations around the world have been marking the occasion though the global week of action for tax justice. In London, activists from the TJN and the […]


Protesting PwC: Professionals Without Conscience

Photos from the Protest outside PwC 1 Embankment Place, part of the Global week of action for tax justiceThis week is the global week of action for tax justice and on Wednesday 5th April activists from the Tax Justice Network and Methodists for Tax Justice held a protest outside the London offices of Price Waterhouse Coopers. The global week of action for tax justice is happening one year after the release of the […]


Germany moves forward on corporate transparency

ReichstagThe Bundesrat has today voted to recommend implementing a public register of the beneficial ownership of companies and trusts.  Great news from Germany, as the country takes an important step forward towards corporate transparency.


New estimates reveal the extent of tax avoidance by multinationals

Price Waterhouse CoopersNew figures published today by the Tax Justice Network provide a country-level breakdown of the estimated tax losses to profit shifting by multinational companies. Applying a methodology developed by researchers at the International Monetary Fund to an improved dataset, the results indicate global losses of around $500 billion a year. The figures appear in a […]


Banking Secrecy in China, its related territories and Taiwan

Hong Kong from Sky 100Foreword. The Tax Justice Network is a non partisan network of experts working towards transparency, so we do not take any position about countries’ territorial and political claims. However, we do expect countries with a de jure (legal) or de facto (in practice) influence over other territories, to take responsibility for their power. We point […]


Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top