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Topic: Organization for Economic Cooperation and Development
Citizenship by investment and residency by investment schemes are the latest targets of regulators and advocacy groups, as three reports by Transparency International, the OECD and the Green Party in the European Parliament all highlighted abuses of the programs in both Europe and the Caribbean.
The Organization for Economic Cooperation and Development has issued a consultation document that warned of the potential abuse of “residence by investment” or “citizenship by investment” schemes.
A positive side effect of President Obama’s duplicity with the anti-Israeli United Nations vote was the attention it brought to what the U.N. is actually doing and how it is wasting taxpayer dollars and undermining liberty.
Cayman has committed in principle to a project reforming the application of tax rules in cross-border business to combat the erosion of tax bases and the artificial shifting of profits to low or no-tax jurisdictions.
Six months after the Panama Papers revelations, Panama signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters last week, making it the 105th jurisdiction to join the predominant instrument for transparency and combating cross-border tax evasion.
The European Commission plans to reform national tax blacklists of EU member states by replacing them with a common EU-wide blacklist. The proposal is part of new measures against corporate tax avoidance presented by the Commission last week.