David vs Goliath (2001) an analysis of the OECD harmful tax competition policy
Butler, Truman Kirkland
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The OECD or Organization for Economic Cooperation and Development has produced a report titled Harmful Tax Competition An Emerging Global Issue. The report is the single largest threat to the offshore finance industry. Further, the sweeping recommendations made by the report would at worst potentially discourage foreign investment in some of the more established offshore financial centers. This thesis represents an analytical view of the report and further gives some highlights to the anomalies found in the tax regimes of the major industrialized countries. It is clear that the actions of the OECD does create in effect a tax cartel. This thesis then discusses the smaller offshore financial centers appear helpless in the midst of the tremendous onslaught by the OECD and its member states. Finally, the thesis presents alternative measures that may be taken globally in order to combat harmful preferential tax regimes in all countries.