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Twenty-First Century Pirates of the Caribbean: How the Organization for Economic Cooperation and Development Robbed Fourteen CARICOM Countries of Their Tax and Economic Policy Sovereignty

50 Pages Posted: 27 Jun 2008  

Vaughn E. james

Texas Tech University School of Law

Date Written: June 1, 2002

Abstract

This article is concerned with a controversy that has been raging for over four years - the anti-harmful tax competition initiative launched by the Organization for Economic Cooperation and Development (OECD) in April 1998, and that organization's subsequent blacklisting of several small defenseless jurisdictions who have dared to use tax competitive measures to secure for themselves a small piece of the global financial pie. On one side of the controversy sits the OECD: rich, powerful, domineering, and exhibiting many of the features of the colonial powers of the late fifteenth through twentieth centuries. On the other side sits the targeted jurisdictions: mostly island-nations of the Pacific and Caribbean, with their fragile economies and a constant struggle to survive in today's globalized economy. This article focuses on the OECD and on one group of targeted jurisdictions - the member states of CARICOM. The article demonstrates how the OECD, through its anti-harmful tax competition initative, has robbed these Caribbean countries of their sovereign right to determine their tax and economic policies.

Keywords: anti-harmful tax competition, OECD, CARICOM, sovereignty

JEL Classification: H2, F15

Suggested Citation

james, Vaughn E., Twenty-First Century Pirates of the Caribbean: How the Organization for Economic Cooperation and Development Robbed Fourteen CARICOM Countries of Their Tax and Economic Policy Sovereignty (June 1, 2002). University of Miami Inter-American Law Review, Vol. 34, No. 1, 2002. Available at SSRN: https://ssrn.com/abstract=1151392

Vaughn E. James (Contact Author)

Texas Tech University School of Law

1802 Hartford
Lubbock, TX 79409
United States

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