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OECD Conclusions Welcomed 24 October 2003 The outcome of the recent OECD global forum on taxation was welcomed, according
to Treasury Minister Allan Bell MHK.
The jointly agreed closing statement recognised that "a global level playing
field does not yet exist and that further progress could and should be made to
achieve it", in order to ensure that the process is fair to all participants. As
a result, the forum agreed to set up a working group to look at ways of
achieving more of a 'level playing field' between all member countries,
committed jurisdictions and other third countries in the development of global
standards for the exchange of tax-related information.
The forum, in Ottawa, Canada, was attended by representatives of 40 OECD and
non-OECD governments including a delegation from the Isle of Man comprising
Attorney General John Corlett, Chief Financial Officer Mark Shimmin, Assessor of
Income Tax Ian Kelly and Deputy Assessor Colin Goodwin. The delegation was
joined in Ottawa by a representative of an international firm of lawyers.
Welcoming the outcome of the meeting, Mr Bell commented: ‘The recognition by the
OECD of the need for greater fairness in progressing its agenda on taxation is encouraging news for the Isle of Man.
'The Island was one of the first non-OECD countries to commit to the OECD
programme, in accordance with our policy of constructive engagement with such
international initiatives. But we made it clear from the outset that we expected
a level playing field - in other words, that the OECD’s requirements should
apply equally to countries large and small around the world.’
Mr Bell concluded: ‘The OECD’s confirmation of the importance of the level
playing field principle is very much in line with what the Isle of Man has been
saying all along, and we look forward to further progress on this issue.’ More stories >>>
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