MANILA, Philippines -- Speaker Prospero Nograles hit back at the Organization of Economic Cooperation and Development for blacklisting the Philippines as a non-cooperative tax haven, saying its member countries do not have unblemished records and have caused the global financial crisis.

Nograles lamented that the Philippines was being made a "punching bag, as if we are not doing any correct things here."

According to him, the country played no part in triggering the worldwide economic crunch that has left many nations in turmoil.

Nevertheless, he said the House of Representatives will reexamine the country's tax laws to determine how these could be improved.

"Yes, Congress will certainly look into our tax laws and try to conform to their standards. But instead of finger-pointing they should examine themselves first and answer why they caused this economic meltdown which has affected the entire world," he said.