Four Tax Havens blacklisted by the OECD have been officially de-listed after agreeing in principle to sign up to OECD regulations governing international financial transparency.

Philippines, Uruguay, Costa Rica and Malaysia have been taken off the list according to an OECD press release.

“These four jurisdictions have now made a full commitment to exchange information according to the OECD standard…This is very important progress,” said OECD head Angel Gurria

Offshore tax havens are critized by NGO’s and anti-poverty groups for providing corrupt dictators with a place to store their ill gotten gains, and for taking tax income away from third world nations.

Not much attention is given to the OECD however, whose decadent Parisien headquarters and workforce are housed 100% tax-free.

OECD International Tax Headquarters

The OECD has divided nations into three categories: those that comply with rules on sharing tax information, those that say they will but have yet to act, and those that have not yet agreed to change banking secrecy practices.

Furthermore it distinguishes between “tax havens” and “offshore financial centres” - although it is now entirely clear how they have done this.

The formerly blacklisted jurisdictions will now be added to the grey list.

Full list as it stands:

Gray list

Costa Rica, Malaysia (Labuan), Philippines, Uruguay, Andorra, Anguilla, Antigua and Barbuda, Aruba, Bahamas, Bahrain, Belize, Bermuda, British Virgin Islands, Cayman Islands, Cook Islands, Dominica, Gibraltar, Grenada, Liberia, Liechtenstein, Marshall Islands, Monaco, Montserrat, Nauru, Netherlands Antilles, Niue, Panama, St. Kitts and Nevis, St. Lucia, St. Vincent & Grenadines, Samoa, San Marino, Turks and Caicos Islands, Vanuatu.

Countries which haven’t fully applied OECD rules, butdon’t count as “tax havens” (by OECD definition): Austria, Belgium, Brunei, Chile, Guatemala, Luxembourg, Singapore and Switzerland.

White list

Argentina, Australia, Barbados, Canada, China (excluding Hong Kong and Macau), Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Japan, Jersey, Korea, Malta, Mauritius, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Russia, Seychelles, Slovak Republic, South Africa, Spain, Sweden, Turkey, United Arab Emirates, Britain, United States, and the U.S. Virgin Islands.

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