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07/03/2002 - The OECD is pleased to announce that The Maldives does not meet the tax haven criteria set forth in its 1998 report, "Harmful Tax Competition: An Emerging Global Issue" and will not be considered for inclusion in any list of unco-operative jurisdictions. This determination was made after detailed discussions with the government of the Maldives regarding the current legal, regulatory, and economic situation in the Maldives. The Maldives does not have an offshore sector in geographically mobile activities, such as financial and other services, and is highly transparent. In addition, it has no laws or administrative practices which prevent the effective exchange of information.

For further information, journalists are invited to contact Nicholas Bray, OECD's Media Relations Division (tel. [33] 1 45 24 80 90).

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