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04/11/2009

Why the OECD did not report jointly with the FATF?

The OECD published a letter that Angel Gurria sent to Hans-Rudolf Merz on 2 April 2009.
Page 2 of this letter Angel Gurria writes that he informed that "there were no new criteria" and the OECD was "not reporting jointly with the FATF".

I cannot understand the reason why Angel Gurria had to confirm that the the OECD was "not reporting jointly with the FATF".

Why was it important to disconnect tax evasion and money laundering, that are however clearly linked?

Does the OECD fear jurisdictions that contribute with peanuts to the OECD budget?

16:50 Posted in General | Permalink | Comments (0)

OECD Hits Back At Switzerland In Tax-Haven Row

Dowjones Business News and Easybourse have reported that Angel Gurria, referred in a letter to Swiss President Hans-Rudolf Merz to the "inaccuracy" of charges of unfair treatment made by Swiss officials.
Gurria said the OECD had acted in good faith and that the information it had provided to the Group of 20 industrial and developing countries was factual "and implied no judgment on the part of the OECD."
Gurria said he himself had warned Swiss officials that "the OECD standard was now moving towards 'defensive actions', meaning sanctions."

Know more

Read OECD press release

Read Angel Gurria's letter

15:21 Posted in Switzerland | Permalink | Comments (0)

Bad news for Luxembourg

In an article a couple of months ago I reported that the Luxembourg jurisdiction was involved in a fraud through the subsidiaries of Icelandic banks in Luxembourg: hundred holding companies registered on the island of Tortola would have been established by Icelandic individuals through the subsidiaries.

As I said the Luxembourg tax haven is there.

Judge Eva Joly will be responsible for the investigation to tighten up the ship.

Two jurisdictions are involved: one the one hand Luxembourg that is on the OECD grey list, and on the other and the UK (London) that is on the OECD white list.

Know more:

Iceland review
Hundreds of Icelandic Companies Registered in Tortola
Iceland Hires International Corruption Hunter
Iceland’s Special Prosecutor Gets reinforcements

L’essentiel
Elle va traquer les capitaux islandais

09:53 Posted in Luxembourg | Permalink | Comments (0)