International Tax Competition

Globalisation and Fiscal Sovereignty

image of International Tax Competition
International tax competition has come to the forefront of global economic policy debate at the outset of the 21st Century. The importance of taxation regimes as an essential factor in driving economic growth, investment inflows and national development has increasingly been recognised.

However, there have also been growing concerns amongst the European Union and the OECD countries that tax competition can be harmful to their economies. A large number of Commonwealth developing countries are now potentially affected by the EU and OECD initiatives to regulate international tax competition.

This book provides a collection of articles by experts from Commonwealth countries on international tax competition, considering the concerns of affected nations. Issues such as globalisation and fiscal sovereignty, WTO issues, and economic development perspectives are considered with particular reference to the concerns of small and developing economies of the Commonwealth.



The OECD and the Captive Insurance Industry: The OECD Report Re-examined

The report by the OECD, Towards Global Tax Co-operation: Progress in Identifying and Eliminating Harmful Tax Practices, has produced a wideranging reaction in the economic, financial, political and popular literature. Commentaries on the subject have been supplemented by a widerranging political and diplomatic movement which too has sought to place the report within an equitable and developmental perspective. One focus area which may add to this response lies in a sectoral examination of the report, determining how it impacts on specific areas such as banking insurance. This brief paper will explore this sector of insurance including captive insurance, an industry which is present in both the offshore financial centre and the metropolitan financial centres.3 Insurance is a useful category for examination not only because of its presence in both types of centres but also because it represents a business sector which positively responds to issues within the report such as transparency and substantial business activity.


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