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CDC

Volume 496: debated on Wednesday 15 July 2009

To ask the Secretary of State for International Development which countries in which CDC has investments do not meet the international tax standard. (285398)

CDC has existing investments in six jurisdictions which, as of the progress report by the OECD Global Forum of 8 July 2009, have committed to but not yet met the international tax standard of 12 Tax Information Exchange Agreements (TIEAs). These are:

Cayman Islands

British Virgin Islands

Netherlands Antilles

Vanuatu

Singapore

Malaysia

CDC will in future only commit capital to new funds and direct investments in jurisdictions implementing the international tax standard and in the developing countries they are aiming to help.