OECD is preparing a two-pillar action plan for governments, as part of a global response to the world financial crisis, calling for tighter regulation and oversight of financial markets and improved national policies to promote economic growth.
Some 16 new bilateral agreements on exchange of information for tax purposes signed this week between OECD countries and the British Virgin Islands, Guernsey and Jersey mark an important step forward in efforts to bring greater transparency to cross-border financial transactions.
Fiscal policy, says the latest Latin American Economic Outlook (LEO 2009) from the OECD’s Development Centre, can be a powerful tool for economic, political and social development in Latin America if taxes are raised efficiently and fairly.
The OECD’s Working Group on Bribery sharply criticised the United Kingdom’s failure to bring its anti-bribery laws into line with its international obligations under the OECD Anti-Bribery Convention and urged the rapid introduction of new legislation.
France is one of the international community’s key players in development co-operation. French Official Development Assistance was USD 9.94 billion in 2007, ranking France third among DAC member countries.
The OECD is to work with developed and developing countries and international organisations to improve policies for the Internet economy and increase international co-operation on issues such as cybercrime and security.
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A three-day international workshop on innovation and the global impact of high-growth small and medium-sized firms (SMEs), organized by OECD with the Kauffman Foundation in Kansas City, hailed entrepreneurship and the fast growth of innovative small firms as the engines of economic growth.
OECD governments could boost economic growth and help create jobs if local agencies and authorities had more power and autonomy to adjust employment and training programmes to meet local needs, concluded OECD employment ministers attending a high level conference in Venice, Italy.
Germany has joined 15 other countries in signing the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters, in a step that will help it to combat cross-border tax evasion more effectively in today’s open global economy.
The 22 member countries of the OECD Development Assistance Committee, the world’s major donors, provided USD 103.7 billion in aid in 2007.