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Center for Freedom and Prosperity's Weekly Update 1) BVI trip and Washington report
1) BVI trip and Washington report I will be bringing a delegation down to the British Virgin Islands early next week. We are excited about visiting another of the countries being persecuted by the OECD. If you would like to meet with us while we are visiting (April 9 and 10), please email me at bvi@freedomandprosperity.org or call me at 202-285-0244. Our OECD project is progressing well with more top U.S. lawmakers coming out against the OECD and major media outlets writing pieces, including the Wall Street Journal, National Review and Bloomberg News. The next month is very crucial and we need your support to carry on. If you are interested in becoming more active, please email me at cfp@freedomandprosperity.org.
2) Two more top lawmakers come out against the OECD's attack on low-tax nations Small Business Committee Chairman Donald Manzullo sends letter to Treasury Secretary Paul O'Neill. (http://www.house.gov/manzullo) ". . . I am particularly concerned that the OECD's proposed cartel for the benefit of high-tax nations will have adverse effects on America's small businesses. As you surely know, our tax
and privacy laws make the United States a tax haven for foreign investors. This has resulted in $7 trillion-$10 trillion of capital from overseas being invested in our economy. These funds both directly and
indirectly help finance small business growth, yet the global system of tax information exchange envisioned by the bureaucrats in Paris will undermine our ability to attract and retain foreign investment. . ."
Link to letter below:
Leading conservative and House Appropriations Committee member John Doolittle asks Secretary Paul O'Neill to "pull the plug on the OECD initiative[.]" (http://www.house.gov/doolittle) ". . . I implore you to reverse the previous administration's foolish policy and withdraw U.S. support for the OECD's proposed tax cartel. We should pull the plug on the OECD initiative, not only
because it is appropriate to defend the sovereign right of all nations to adopt free market policies, but also because we do not want to create a precedent that our high-tax competitors could use against America. .
." Link to letter below:
3) Wall Street Journal (Europe) Goes on the Record: "The Next Kyoto?" " . . . It's no surprise that high-tax countries want to avoid tax competition or that the OECD, at European instigation apparently, now has deemed such competition 'harmful.' This issue would look like a shoo-in for a Bush Nyet. "But the administration, involved in getting its tax package across, could overlook this issue, allowing it to become the plaything of Treasury bureaucrats. Treasury Secretary Paul
O'Neill has been ambiguous himself. . ." Link to full story below:
4) National Review's online magazine -- O'Neill's Choice: Will he side with the government of France — or with taxpayers? ". . . Almost everyone in President Bush's economic team opposes the OECD proposal. But the career officials at Treasury whose job is to enforce tax law support it because they see the chance to nab a
few American tax evaders. Which side wins will spell the fate of the entire enterprise: an international sanctions regime against the tax havens will not succeed — will not even be formed — without American
participation. . ." Link to full story below:
5) Heritage Foundation's Dan Mitchell reports on his trip to Europe: "The trip to Europe was very productive. It began with meetings in Geneva with both bankers and press, including a speech before the Swiss Press Club. I then went to Liechtenstein for a speech to a group organized by the Liechtenstein Bankers Association. My next stop was Zurich, where I met with key journalists. Next on the agenda was Brussels. While in Belgium, I spoke before an excellent conference put together by Graham Mather of the European Policy Forum (see agenda item #8 for more details). In addition, I briefed a number of journalists regarding the OECD's misguided initiative."
6) Bloomberg News: Polarized Forces Working to Fight OECD Crackdown on Tax Havens http://www.freedomandprosperity.org/Articles/bb04-03-01/bb04-03-01.shtml
7) Sir Ronald Sanders before the Antigua and Barbuda Chamber of Commerce and Industry A speech given Tuesday, March 27th, by His Excellency Sir Ronald Michael Sanders, Chief Foreign Affairs Representative with Ministerial Rank of Antigua and Barbuda to the Luncheon Meeting of the
Antigua and Barbuda Chamber of Commerce and Industry.
8) European Policy Forum sets the record straight on the OECD Tax-News.com: European Think Tank Criticises OECD For 'Unfair Tax Competition' Initiative. See link below:
9) Canada's leading economic think tank takes on the OECD The Fraser Institute: November 2000 Fraser Forum: An OECD Tax Cartel? See link below:
Tax-News.com on CFP's QI project Financial Times: Caribbean to lobby for US support Associated Press: Prince of Liechtenstein opposes OECD tax rules Tax Notes International: Bankers Voices Opposition to Proposed Regulations on Reporting Requirements for Deposit Interest Paid to Nonresident Aliens
Kind regards, Andrew Quinlan
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