4 Countries Ignore Tax Exchange Standards, Group Says

Law360, New York (November 22, 2013, 2:10 PM EST) -- Dozens of nations are contributing to an Organization for Economic Cooperation and Development tax information exchange, but four nations notoriously known as tax havens — Luxembourg, Cyprus, the Seychelles and the British Virgin Islands — are noncompliant, the organization said Friday.

The revelation comes from a compliance report the OECD released during a global forum on tax transparency and tax information exchanges held in Jakarta, Indonesia on Nov. 21 and 22. Of the 50 countries rated, 44 are compliant or largely compliant with OECD information exchange...
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