OECD removes Monaco, Liechtenstein from tax list
European tax havens Monaco, Liechtenstein and Andorra have been removed from the Organisation of Economic Cooperation and Development’s uncooperative tax havens list.
The Paris-based organisation said they were removed due to their commitments to implement the OECD standards of transparency. All have agreed a time table in implementing exchange of information agreements with other countries.
The removal of the three means there are no longer any uncooperative tax havens on the OECD list, which was originally drawn up in the late 1990s to highlight issues on money laundering and tax evasion.
Last April, as a result of a Group of 20 initiative, the OECD drew up another list of tax havens and categorised them as either being on the white list, or international compliant; grey list, partially compliance; or black list, not compliant.
Black list countries Costa Rica, Malaysia, the Philippines and Uruguay, have since been moved onto the grey list after making commitments on tax.
The OECD has also recently said that it had identified at least four other tax jurisdictions – Jamaica, Qatar, Botswana and Ghana — as possible new tax havens.
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