The Center for Freedom and Prosperity, in Bermuda for the Global Tax Forum, issued a warning today that the Paris-based Organization for Economic Cooperation and Development is pushing a scheme that effectively would result in the creation of something akin to a World Tax Organization designed to prop up European welfare states and persecute low-tax jurisdictions.

With the next meeting of the Global Tax Forum – part of the anti-tax competition program of the Organization for Economic Cooperation and Development (OECD) – scheduled to begin next week in Bermuda, the Center for Freedom and Prosperity Foundation (CF&P) has today released a Prosperitas paper calling on low-tax jurisdictions to stand up against the constantly growing demands of European tax collectors struggling to prop-up floundering welfare states.

The tide is now turning against high-tax nations – particularly as more people understand that ever-increasing fiscal burdens inevitably lead to Greek-style fiscal collapse. Political changes in the United States further complicate the OECD’s ability to impose bad policy. Because of these developments, low-tax jurisdictions should be especially resistant to new anti-tax competition initiatives at the Bermuda Global Forum.