The Organization for Economic Cooperation and Development (OECD) placed the Philippines in its "white list" as Department of Finance passed regulations allowing a swap of bank information between counterpart banks in keeping with the international convention on tax standards. Countries in the list are those who have substantially implemented these tax standards. Based in Parish, France, OECD was founded in 1961, and currently has 33 member countries, which the country is still not among them. Among Asian countries, only Japan and Korea so far qualified for membership. [Related Reports: Agence France-Presse: "Philippine targets cheats' offshore bank accounts," msn News 30 September 2010] Monday, October 4, 2010
Philippines Gets White in OECD List
The Organization for Economic Cooperation and Development (OECD) placed the Philippines in its "white list" as Department of Finance passed regulations allowing a swap of bank information between counterpart banks in keeping with the international convention on tax standards. Countries in the list are those who have substantially implemented these tax standards. Based in Parish, France, OECD was founded in 1961, and currently has 33 member countries, which the country is still not among them. Among Asian countries, only Japan and Korea so far qualified for membership. [Related Reports: Agence France-Presse: "Philippine targets cheats' offshore bank accounts," msn News 30 September 2010] 
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