16 Dec 2003

Forum Secretary General welcomes Nauru's remvoal from blacklist recognises

9:31 am on 16 December 2003

The Secretary General of the Pacific Islands Forum Secretariat, Noel Levi, has welcomed the removal of Nauru from the OECD's list of unco-operative tax havens.

Mr Levi says he is pleased that Nauru's efforts to improve the transparency of its offshore financial industry and to establish an effective exchange of information for tax matter with OECD members have been recognised.

He says Nauru will now be invited to join OECD member countries at meetings of the organisation's Global Forum to discuss the design of standards.

This grouping includes four other Pacific states, the Cook Islands, Niue, Samoa and Vanuatu.

The OECD published the initial list of unco-operative tax havens in April 2001, and had warned of punitive measures if those listed did not comply with its Harmful Tax Initiative.