France removes Phl from list of uncooperative tax havens

ance has e oved the hil ippines f o its list of count ies dee ed to be uncoope ative in investigating fo eign aid f aud

he ench gove n ent e leased last ug its updated blac list of non coope ative u isdictions that no includes e uda, itish i gin slands and e se , t igge ing ithhold ing ta es of up to pe cent on pa ents f o ance

he th ee ne te ito ies oined seven s alle financial cente s that e e al ead on the list, na el ots ana, unei, uate ala, a shall slands, ontse at, au u, and iue

inance ec eta esa u i si a att ibuted the count s e oval f o the list of non coope ative ta havens to the uino ad inist ation s effo ts to cla p do n on co uption and ta evasion

e a e ve happ to epo t that the hilippines has been e oved f o the ench gove n ent s list of non coope ative u isdictions fo ta polic , othe ise no n as a blac list of ta havens his ove is a

recognition of the Aquino administration’s commitment and tangible progress in combating tax avoidance and promoting fiscal honesty,” Purisima said.

“We hope that foreign firms, and not just French ones, take this as a signal that the Philippines affords a competitive and transparent playing field for everyone to do business in,” he added.

The 10 countries are banned from using French banks to share out development funds.

France adopted its own blacklist of countries that failed to comply adequately with international taxation and fiscal standards back in February 2010.

French officials said the blacklisting was rooted on the countries’ lack of transparency on how they allocated the foreign aid given to them.

According to French officials, the strict blacklisting is aimed at putting “pressure on these countries by publicizing this list to progress toward transparency.”

This is rooted in the scandal involving France’s former budget minister Jerome Cahuzac.

Governments worldwide are attempting to combat tax evasion and boost their coffers amid the ongoing financial crisis.

This move by the French government is similar to the list drawn up by the Paris-based Organization for Economic Cooperation and Development OECD .

JOEY VIDUYA Holding their 2013 Ramon Magsaysay Awards during ceremonies at the Cultural Center of the Philippines yesterday are (from left) Sunita Danuwar, representing Nepal’s Shakti Samuha; Afghanistan’s Habiba Sarabi; Myanmar’s Lahpai Seng Raw; Indonesia’s...