The Organization for Economic Cooperation and Development said on Wednesday, September 12, it had dropped Bahrain from the "fiscal paradise" blacklist because the Bahrain government had pledged to help end doubtful fiscal practices.
The OECD, in a statement, welcomed Bahrain's promise of transparency and an efficient exchange of information with the Paris-based group through 2005. Bahrain was among the 35 tax havens identified by the OECD in its initial blacklist, published in June 2000.
The Gulf emirate joins five others dropped from the list this year after making similar pledges of cooperation with the OECD: the Netherlands Antilles, Aruba, Isle of Man, Seychelles and the Tonga islands. ― (AFP, Paris)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
