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OECD investigates tax issues for the wealthy

As part of its probe into member state tax policies, the OECD is asking wealthy individuals what they think of taxation.

The Organisation for Economic Co-operation and Development is trying to ascertain what the wealthy and other interested parties think about tax issues in a bid to put together a series of "best practice" tax policies for high net worth individuals.

The head of the organisation's tax competition department, Pascal Saint-Amans, said: "The intention of the initiative is not to see how our member states can extract more money from the wealthy. We want to work with them and other interested parties to develop a best practices framework that reflects the views of all those affected."

The OECD has already begun the research, meeting with interested parties and Swiss-based private client lawyers.

One of the main themes of investigation will be the transparency of offshore centres. Saint-Amans said: "Efforts on greater transparency will be seen in the context of promoting best practices."

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