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CFP's London and Capitol Hill Update The Center for Freedom and Prosperity's London trip was successful. CFP held a public briefing on Friday and had numerous meetings with representatives from persecuted low-tax countries, members of the British Parliament, free market think tanks and concerned individuals. Most importantly, the OECD once again failed to make progress in their campaign against low-tax countries. These nations defended their sovereignty at the Task Force meeting, and no additional jurisdictions capitulated to the OECD's Memorandum of Understanding. Interestingly, the OECD stirred up some controversy when they claimed that the Bush Administration supports their "harmful" tax competition project – including the threat to impose financial protectionism against targeted nations. As our press release explains, this is not true. Certain career bureaucrats are trying to push the OECD agenda, but we are confident that the new administration will adopt a different position when they have an opportunity to review the issue. CFP has also increased its Capitol Hill lobbying effort and is making plans to meet with Bush Administration officials. In this edition: 1) CFP's January 31, 2001 Press Release 2) News reports on the OECD London Task Force. 3) Reports on CFP's London trip and public briefing
1) CFP's January 31, 2001 Press Release OECD Strikes Out in London, U.S. Position Misrepresented Washington, DC – At a London task force meeting last weekend, the Organization for Economic Cooperation and Development (OECD) once again failed to make progress in their campaign against tax competition, financial privacy, and fiscal sovereignty. The Center for Freedom and Prosperity hailed this development, praising low-tax countries for resisting the OECD's fiscal imperialism. . . Link: http://www.freedomandprosperity.org/press/pr01-31-01/pr01-31-01.shtml
2) News reports on the OECD London Task Force meeting and CFP's involvement. OECD Official Hoping for Progress At London Meeting on Tax Havens Link: http://www.freedomandprosperity.org/Articles/bna01-25-01b/bna01-25-01b.shtml Harmful Tax Competition Furor Raises Specter of Global Tax Forum Link: http://www.freedomandprosperity.org/Articles/bna01-29-01/bna01-29-01.shtml Tax haven talks threaten to collapse as OECD refuses to budge on sanctions Link: http://www.freedomandprosperity.org/Articles/afx01-29-01/afx01-29-01.shtml Global Tax Forum Proposed By Offshore Tax Jurisdictions Link: http://www.freedomandprosperity.org/Articles/bna01-30-01/bna01-30-01.shtml
3) Reports on CFP's London trip and public briefing CFP Activists in London to Counter OECD's Harmful Tax Competition Effort Link: http://www.freedomandprosperity.org/Articles/bna01-25-01/bna01-25-01.shtml Offshore Jurisdictions Warned In Advance Of London OECD Task Force Meeting http://www.freedomandprosperity.org/Articles/t-n01-25-01/t-n01-25-01.shtml Harmful Tax Competition Furor Raises Specter of Global Tax Forum Link: http://www.freedomandprosperity.org/Articles/bna01-29-01/bna01-29-01.shtml Tax Haven Targets Offered Strategy For London OECD Task Force Meeting Link: http://www.freedomandprosperity.org/Articles/bna01-23-01/bna01-23-01.shtml Strategy Offered to Tax Haven Targets Includes 'Watch New U.S. Administration' Link: http://www.freedomandprosperity.org/Articles/bna01-24-01/bna01-24-01.shtml
4) Dan Mitchell's recent op-ed on the new IRS regulations that affect international investment in the U.S. The Greatest Threat to Our Economy By Daniel J. Mitchell "What's the greatest threat to our economy? Is it that interest rates or income taxes are too high? That Americans are saving too little? That federal lawmakers have a talent for spending budget surpluses? Good guesses, all -- but the answer may turn out to be the Internal Revenue Service. "Why? Because the IRS has two new regulations that are going to scare away a lot of overseas investors. And the United States benefits enormously from foreign investment. . ." Link: http://www.freedomandprosperity.org/Articles/kr01-24-01/kr01-24-01.shtml
5) Spotlight on a Miami presentation by Michael Alberga, principle of the Myers & Alberga law firm in the Cayman Islands. ". . . These disturbing developments, such as the OECD's initiative on Harmful Tax Competition, the main aim of which is to prohibit capital flow from high tax nations to low tax or no tax countries, abrogate the rule of law, disregard national sovereignty and put in place procedures to remove the right to privacy. Such movements are being put forward with threats to use their economic might to bring to heel all of those who do not agree. This behavior endangers the very foundation of the force which we all seek to harness." Link: http://www.freedomandprosperity.org/Articles/Alberga12-05-00/alberga12-05-00.shtml Kind regards, Andrew Quinlan ********** NOTE: If you received this email by mistake, or would like to be removed from our list, please contact us and put REMOVE in the subject line of your email. Thank you. (remove@freedomandprosperity.org)
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