Guernsey and Jersey have made commitments to improve the transparency of their tax and regulatory systems and establish effective exchange of information for tax matters with OECD countries by 31 December 2005. The OECD looks forward to working with Guernsey and Jersey and encourages other jurisdictions to come forward with similar commitments.
Guernsey and Jersey were among 35 jurisdictions identified by the OECD in June 2000 as meeting the technical criteria for being a tax haven. As a result of having made these commitments, neither Guernsey nor Jersey will be listed as uncooperative tax havens.
Guernsey and Jersey will be invited to participate, together with the other committed jurisdictions and OECD countries, in the meetings of the OECD's Global Forum to discuss the design of standards for the implementation of these and any similar commitments. The OECD will continue to engage in discussions with other jurisdictions interested in co-operating to address the issues raised by harmful tax practices.
Earlier, on 20 February, the OECD announced that Antigua and Barbuda had also made a commitment to transparency and effective exchange of information for tax matters with OECD countries by 31 December 2005.
The full texts on these and other commitments are available online (see below).
©OECD Observer February 2002