Taxation is a significant factor in determining the global distribution of economic activity, particularly in the financial services sector, one of the most rapidly growing components of the global economy. The participation of small and developing countries in this sector depends on creating a 'level playing field' between rich countries on the one hand, and small and developing countries on the other. It also requires mechanisms for removing the present and potential future discrimination against small and developing countries in this sector. Stoll-Davey analyses recent debates between the OECD and small and developing countries (represented through the International Trade and Investment Organisation), and suggests ways to ensure fairness in future international taxation matters.
Camille Stoll-Davey holds a degree in accounting from Barry University, and a diploma in law from Oxford Brookes University, and is qualified as a Certified Public Accountant. She has held various senior positions in the finance industry and is currently completing her doctorate in financial law at the University of Oxford.
Foreword - Ransford Smith, Deputy Secretary-General, Commonwealth Secretariat Executive Summary I. Introduction II. Background to the 2006 Assessment IIa. Competition among Financial Centres IIb. Capital mobility IIc. Market efficiency IId. Global competition and Regulatory response IIe. Democratic Deficit III. The 'Level Playing Field' in Context IV. Methodology V. Review of Selected Countries Va. First Group - OECD countries Vb. Second Group - ITIO countries Vc. Third Group - non-ITIO and non-OECD countries VI. Observations VII. The Implications of the use of DTCs as compared with TIEAs VIII. A Way Forward IX. Conclusion Appendices Bibliography