Last week **Costa Rica, Malaysia, Philippines** and **Uruguay** were put on a tax haven “blacklist” by the Organisation for Economic Co-Operation and Development (OECD). Today, the OECD announced that all four have agreed to endorse standards on sharing tax information. The OECD statement said, *“They have now officially informed the OECD that they commit to co-operate in the fight against tax abuse, that this year they will propose legislation to remove the impediments to the implementation of the standard and will incorporate the standard in their existing laws and treaties.”* And, because of this, the four nations have been moved to the category of “*jurisdictions that have committed to the internationally agreed tax standard, but have not yet substantially implemented”* as outlined in the OECD progress report issued on 2 April.
At a joint press conference with EU Commissioner László Kovács, OECD Secretary-General Angel Gurria said, *“We continue to see quick progress in the adoption of the OECD standard. I very much welcome that all jurisdictions surveyed by the OECD Global Forum are now committed. We need a level playing field and are looking forward to quick implementation of the standard.”*
The OECD maintains that its 2 April report shows progress in the implementation of the standard on exchange of information for tax purposes. It will now work in the framework of its Committee on Fiscal Affairs and the Global Forum with all jurisdictions concerned on the implementation of these commitments, speeding up the process of concluding and negotiating tax information exchange agreements, achieving a swift and effective implementation, reviewing our Global Forum, and engaging developing countries.