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addressing harmful tax competition encouraging its member states to utilize a range of

non-tax measures at their disposal.

96

This entire effort has been criticized as an attempt by governments of high tax countries

to protect their tax revenues at the expense of the approximately forty nations, which

have little or no taxes.97

Coupled with this criticism, have been commentaries which

have been highly critical of the report within the leading member states of the OECD.

One commentary exclaimed that the fact that low tax jurisdictions are a “magnet” for

jobs, capital and entrepreneurial talent is the sort of development that should be generally

encouraged and not discouraged as this has repercussions on other national concerns such

as immigration and capacity of developed countries to properly cater for the health

services of their citizens.98

Further, Dick Armey US House Majority Leader has opposed what he calls ‘ financial

protectionism aimed at low tax regimes.” Congressman Armey added that the essence of

the Report would be against the national interests of the United States and would

endanger the economic policies of other nations. He expressed grave concern over the

US government’s active support and involvement in the OECD’s efforts to stamp out tax

competition, claiming that the OECD report was designed in effect to create a tax cartel.”

If the OECD succeeds our nation will face the risk of higher taxes and a weakened

96 97 Id at page 62 Commonwealth Secretariat “Harmful Tax Competition paper” prepared for the Meeting of Law Ministers and Attorney Generals of Small Commonwealth Nations LMSCJ (00) 12, May 15- 17, 2000, p 3 Michael Allen, “Wealthy Nations Plan Crackdown on Tax Evasion, Offshore Havens,” The Wall Street Journal May 21, 1998 98

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