THE Organization for Economic Cooperation and Development on Tuesday removed the Philippines and three other countries from its list of noncooperative tax havens.
The OECD said the Philippines, Costa Rica, Malaysia and Uruguay have officially committed to cooperate in the fight against tax abuse and to propose legislation this year to remove the impediments to implementing the internationally agreed tax standard on exchange of information.
“As a result, they have been moved to the category of ‘jurisdictions that have committed to the internationally agreed tax standard, but have not yet substantially implemented’ in the OECD progress report first issued on 2 April,” the OECD said in its website.