Editorial
Antigua AmbassadorCalls For Measures To Offset OECD Demands
During a meeting with Antigua's Chamber of Commerce and Industrythis week, the High Commissioner to London, Sir Ronald Sanders,proposed two ways in which Antigua could tackle the demands ofthe OECD.
According to a report by the Antigua Sun,Sir Ronald suggested that the Antigua government could convertoffshore institutions into onshore entities with the power tooperate on a local basis and he proposed that a public relationscampaign be launched to counter the OECD's 'propaganda'.
Sir Ronald, who is senior ambassador withministerial rank and Antigua and Barbuda's representative on theWorking Group concerned with the OECD initiative on Harmful TaxCompetition, described the OECD threat to impose sanctions onAntigua & Barbuda, if the jurisdiction did not comply withthe organisation's demands, as without basis and accused it ofadopting the premise 'might is right.' He said: 'The OECD is aninternational grouping of 30 of the world's richest countries.It is not an international organization and has no legal authorityto speak for the world, or to establish any rules, norms, or standardsfor any state other than their own members.'
He continued: 'Nonetheless it is now dictatingterms on what could be described as cross-border tax matters.It has said quite categorically that if targeted territories donot submit to their terms, damaging sanctions will be opposedagainst them.'
Sir Ronald also commented on the OECD'sconcerns over international money laundering and financial crimesaying: 'the OECD is attempting to dictate the tax policies andsystems of other countries to the benefit of their own states.If they are successful in imposing their way in these mattersthey will be emboldened to do more. They have targeted 41 smallstates in the Pacific and the Caribbean whom they have brandedas harbouring tax cheats, and secure havens for tax dodgers.'
He added that the OECD member countrieshave...'some of the biggest offshore and tax havens globally andtheir media, playing hand and glove with them, have taken up themantle of deception that the concern is over money launderingand financial crime. What they are really after is unrestrictedaccess on a global basis for their goods and services, to thedetriment of the regions they are targeting. And what they wantis to be able to have access to any financial information, offshoreor onshore, regardless of privacy, or the right of a nation'scourts to examine the request in checking out its validity.'
He said a level playing field was necessaryfor all countries, regardless of whether or not they were affectedby the OECD, but when the idea was presented to them Sir Ronaldsaid they refused to accept it. He explained: 'We have agreedto accept some of their demands if they would agree to live bythose same demands. Their response was to cut off all talks anddemand that their conditions be met by July of this year.'