11/09/2001 - The OECD is pleased to announce that Bahrain has expressed a willingness to work with the OECD in the OECD's overall initiative to address the international issue of harmful tax practices. The OECD welcomes Bahrain's commitment, which is contained in the annex to Bahrain's press release dated 11 September 2001, to establish transparency and effective exchange of information by 31 December 2005.
Bahrain will therefore not be considered for inclusion in the list of uncooperative jurisdictions. The OECD encourages other jurisdictions to come forward with similar commitments.
Bahrain will be invited to participate, together with other co-operative jurisdictions and OECD Member countries, in the next meeting of the OECD's Global Forum to discuss the design and implementation of effective exchange of information agreements. Moreover, Bahrain will be invited to the September Global Forum meeting on Harmful Tax Practices. Over the coming months, the OECD will continue to engage in discussions with other jurisdictions interested in co-operating to address the issues raised by harmful tax practices.
The full text of Bahrain's commitment and its accompanying press release are available on the OECD's website (see http://www.oecd.org/daf/fa/harm_tax/com_Bahrain.htm).
For further information, journalists are invited to contact Nicholas Bray in the OECD's Media Relations Division (tel. 33 1 45 24 80 90).