Black List of Tax Havens

Andorra, Monaco and Liechtenstein are on the black list of “uncooperative tax havens”, published by the Organisation for Economic Cooperation and Development (OECD).

The other countries mentioned in the OECD report are Liberia, Nauru, Vanuatu and the Marshall islands. These seven territories could suffer sanctions as from April 2003, the date set by the OECD for collaborative measures in the framework of the fight against world terrorism, money laundering and tax evasion.

Sanctions could be the revoking of bilateral fiscal agreements between these territories and the OECD countries. The OECD is composed of 30 member states, these being the EU and central European countries, USA, Canada, Australia, New Zealand, S. Korea and Japan.

For the time being, however, the OECD intends to proceed with dialogue, leaving the door open for a change of attitude.

John ASHTEAD PRAVDA.Ru LONDON UNITED KINGDOM