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Abstract

Central to the question of legitimacy in the difficult issues of international taxation and confidentiality is the comity principle, which is an extension of the principle of territorial sovereignty. The real concern of onshore countries such as Australia in relation to offshore activity is often actual financial loss, rather than high or moral principles. The argument thus follows that, in response to the international pressures exerted through directives and sanctions of supranational bodies such as the OECD, all things being equal, offshore states have a similar right to safeguard their economic and political interest by upholding them.

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