OECD Forum Clears Ireland, Peru Tax Incentives as Harmless

OECD countries participating in the body’s tax practice reviews found new incentives offered by Peru and Ireland aren’t harmful to other tax bases under its latest peer review results released Thursday.

The majority of low-tax jurisdictions, including the British Virgin Islands and Bahamas, were fully compliant with the minimum standards in their tax designs and don’t raise competitiveness concerns, according to the Organization for Economic Cooperation and Development’s review of harmful tax practices.

The review forms part of the OECD’s base erosion and profit shifting project that began in 2013. The review seeks to determine if a jurisdiction’s tax regimes ...