Contact Information:

Center for
Freedom and Prosperity
 P.O. Box 10882
Alexandria, Virginia
22310-9998
 

CFP Update:  January 16, 2001

CFP's Barbados Trip is Successful and We're Off to London . . .

Our trip to Barbados exceeded our expectation. The OECD agreed to allow the persecuted nations a place at the negotiating table. Keep in mind that it is just an opportunity to participate.  The OECD still has not backed-off its threat of economic sanctions or withdrawn the blacklist.  That is why it is important for CFP to be in London to help advise the targeted countries. We have been asked by some of the task force countries to help them and we plan on being there.

 

The past week was very exciting. The following is in this update…

1) Letter from Ways and Means Committee Member Rep. Sam Johnson to the OECD

2) Tax Notes International Article on our Barbados efforts

3) Article on OECD's hypocrisy and non-transparency

4) Link to News Stories on Barbados Trip

5) Update and Press Release from Bridgetown, Barbados, January 9, 2001

6) Bruce Zagaris' paper he presented in Barbados

7) Dr. Terry Dwyer's paper on "harmful" tax competition

8) Worth reading a second time: Majority Leader Dick Armey's Letter to Larry Summers

 

1) Letter from Ways and Means Committee Member Rep. Sam Johnson to the OECD

   "I have been following the OECD's campaign against 'harmful tax competition,' and I believe the OECD is focusing on the wrong problem…"

Link:  http://www.freedomandprosperity.org/Johnson.pdf

 

2) Tax Notes International Article on our Barbados efforts

     "Elizabeth Tobias, a tax adviser to House Majority Leader Richard K. Armey, R-Texas, told reporters January 7 in Barbados that opposition to the OECD's campaign against tax competition may be growing on Capitol Hill. Tobias was in Barbados as the guest of the Washington-based Center for Freedom and Prosperity (CFP), which hosted a symposium January 6-7 to promote fiscal privacy and what it sees as the benefits of tax competition.

     "The CFP mantra is that 'tax competition should be celebrated, not persecuted.' 'I am here to tell you that signs are good that the new administration will not support the OECD's current efforts, but we don't know for sure,' Tobias said...."

Link:  http://www.freedomandprosperity.org/Articles/tni01-09-01/tni01-09-01.shtml

 

3) Article on OECD's hypocrisy and non-transparency: 1/10/01, Daily Nation (Barbados) -- Watchdogs kept out of tax talks

     "If it were left to delegates of the Organisation for Economic Development (OECD), members of the United States-based Centre for Freedom and Prosperity would not have been allowed in Sherbourne Conference Centre.
     "As a result of strenuous objections from the OECD, Americans Andrew Quinlan, Bruce Zagaris and Dan Mitchell - all members of Centre for Freedom and Prosperity - were kept out of the closed-door talks on the controversial issue of 'harmful tax competition.'
     "The members of the centre were originally included among the Antigua and Barbuda delegation as advisors but stern objections meant they were forced to monitor the two days of the conference from the corridors.
     "According to sources at the high-level conference, the OECD exerted pressure on some regional territories in order to keep out the advocates…"

Link: http://www.freedomandprosperity.org/Articles/dn01-10-01/dn01-10-01.shtml

 

4) Link to News Stories on Barbados Trip

Link:  http://www.freedomandprosperity.org/Articles/articles.shtml#articles

 

5) Update and Press Release from Bridgetown, Barbados, January 9, 2001

Update & PR Link: http://www.freedomandprosperity.org/victory.html

 

6) Bruce Zagaris' paper he presented in Barbados

Link:  http://www.freedomandprosperity.org/zagaris01-06-01.html

 

7) Dr. Terry Dwyer's paper on "harmful" tax competition

     We have several papers from scholars from around the world on our web site.  Each week we will feature one of these articles.  Today's selection is Dr. Terry Dwyer's paper entitled, "'Harmful' tax competition and the future of offshore financial centres." Dr Dwyer is a Visiting Fellow at the National Centre for Development Studies, Asia Pacific School of Economics and Management, The Australian National University.

   Summary: Offshore financial centres are coming under increasing pressure from both the OECD and the European Union. They are seen by many bureaucrats and politicians in OECD countries as facilitating criminal activities such as laundering drug money as well as tax evasion and tax avoidance by residents of high-tax welfare states. While there are good reasons for nation states to cooperate to suppress criminal activity, this is not true in relation to tax competition. The notion that by engaging in 'harmful' tax competition, offshore financial centres are damaging the legitimate interests of OECD nations has no sound foundation in economic theory. Competition in tax matters is beneficial and world welfare enhancing. Governments of offshore financial centres serve their own and the world's interests by providing zero or low tax environments for global business and investment and they are right to insist that treaties on criminal matters not be used to enforce other countries' tax claims.

Link:  http://www.freedomandprosperity.org/Articles/dwyer-11-00.pdf

 

8) Majority Leader Dick Armey's Letter to Larry Summers

     Many of the targeted countries mentioned Rep. Armey's letter to us in Barbados.  They said that his September 2000 letter was a turning point in the whole affair.  It gave the small, low-tax nations hope.  I have linked his letter below lest we forget the Majority Leader's contribution to our success in Barbados.
Link:  http://www.freedom.gov/library/economics/oecdletter.asp

Kind regards,

Andrew Quinlan
Center for Freedom and Prosperity
President
202-285-0244
603-971-9137 (efax)
quinlan@freedomandprosperity.org
www.freedomandprosperity.org

 

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