Hidden Treasure: The Impact of Automatic Exchange of Information on Cross-Border Tax Evasion

Hidden Treasure: The Impact of Automatic Exchange of Information on Cross-Border Tax Evasion

Author: Sebastian Beer

Publisher: International Monetary Fund

Published: 2019-12-20

Total Pages: 32

ISBN-13: 1513525042

DOWNLOAD EBOOK

We analyze the impact of exchange of information in tax matters in reducing international tax evasion between 1995 and 2018. Based on bilateral deposit data for 39 reporting countries and more than 200 counterparty jurisdictions, we find that recent automatic exchange of information frameworks reduced foreign-owned deposits in offshore jurisdictions by an average of 25 percent. This effect is statistically significant and, as expected, much larger than the effect of information exchange upon request, which is not significant. Furthermore, to test the sensitivity of our findings, we estimate countries’ offshore status and the impact of information exchange simultaneously using a finite mixture model. The results confirm that automatic (and not upon request) exchange of information impacts cross-border deposits in offshore jurisdictions, which are characterized by low income tax rates and strong financial secrecy.


Hidden Treasures, the Impact of Automatic Exchange of Information on Cross-border Tax Evasion

Hidden Treasures, the Impact of Automatic Exchange of Information on Cross-border Tax Evasion

Author: Sebastian Beer

Publisher:

Published: 2019

Total Pages: 32

ISBN-13:

DOWNLOAD EBOOK

We analyze the impact of exchange of information in tax matters in reducing international tax evasion between 1995 and 2018. Based on bilateral deposit data for 39 reporting countries and more than 200 counterparty jurisdictions, we find that recent automatic exchange of information frameworks reduced foreign-owned deposits in offshore jurisdictions by an average of 25 percent. This effect is statistically significant and, as expected, much larger than the effect of information exchange upon request, which is not significant. Furthermore, to test the sensitivity of our findings, we estimate countries' offshore status and the impact of information exchange simultaneously using a finite mixture model. The results confirm that automatic (and not upon request) exchange of information impacts cross-border deposits in offshore jurisdictions, which are characterized by low income tax rates and strong financial secrecy.


The Revolution in Automatic Exchange of Information : how is the Information Used and what are the Effects?.

The Revolution in Automatic Exchange of Information : how is the Information Used and what are the Effects?.

Author: L. Finér

Publisher:

Published: 2017

Total Pages:

ISBN-13:

DOWNLOAD EBOOK

The effect of automatic exchange of information standards on cross-border tax evasion has attracted only limited attention from academics. This article responds to this by analysing how the OECD Common Reporting Standard (CRS) and the US Foreign Account Tax Compliance Act (FATCA) affect tax evasion and, therefore, states and taxpayers.


Handbook on the Politics of Taxation

Handbook on the Politics of Taxation

Author: Hakelberg, Lukas 

Publisher: Edward Elgar Publishing

Published: 2021-09-14

Total Pages: 432

ISBN-13: 1788979427

DOWNLOAD EBOOK

This comprehensive Handbook provides an insight into the main concepts and academic debates on taxation from a political science perspective. Providing a background to current debates on green taxation, taxation and inequality, taxation and gender, tax evasion and avoidance, and tax compliance, it offers potential avenues for future research.


The Organisation for Economic Co-operation and Development (OECD)

The Organisation for Economic Co-operation and Development (OECD)

Author: Richard Woodward

Publisher: Routledge

Published: 2022-03-30

Total Pages: 165

ISBN-13: 1351025848

DOWNLOAD EBOOK

Celebrating its 60th anniversary in 2021, the Organisation for Economic Cooperation and Development (OECD) is routinely heralded as one of the leading organs of global governance, yet it remains one of the least written about and least well understood of our major global institutions. This fully revised and updated second edition builds a well-rounded understanding of this crucial, though often neglected, institution. A range of clearly written chapters chart the origins and evolution of the organization, comprehend its influence, examine its current agenda, and evaluate its future prospects. Rather than the simplified characterizations of the OECD as a “rich-country’s club” or “think tank,” this book suggests that truly understanding the OECD and its significance to global governance requires it to be conceived as the entity it truly is: an international organization. New to this edition: Outlines the OECD’s origins and evolution, bringing its story fully up to date Considers the ‘OECD way’ of working, including the peer review process Examines competing views of the OECD’s influence over global governance Evaluates the OECD reform and the organization’s future prospects This concise introduction continues to be vital reading for all students of international relations, politics and world history and affairs.


2023 Review of The Fund's Anti-Money Laundering and Combating The Financing of Terrorism Strategy—Background Papers

2023 Review of The Fund's Anti-Money Laundering and Combating The Financing of Terrorism Strategy—Background Papers

Author: International Monetary Fund. Legal Dept.

Publisher: International Monetary Fund

Published: 2023-12-05

Total Pages: 88

ISBN-13:

DOWNLOAD EBOOK

The background papers support the stocktaking analysis and the proposed way forward for the 2023 review of the IMF's AML/CFT Strategy. The five background papers provide in-depth discussions on the following key topics: (i) illicit financial flows; (ii) the impact of money laundering in financial stability; (iii) synergies between financial integrity issues and other Fund policies and work; (iv) the Fund’s collaboration with key partners in the AML/CFT global policy architecture; and (v) stakeholders’ views of the effectiveness of the Fund’s AML/CFT engagement.


Voluntary Disclosure Programs — Design, Principles, and Implementation Considerations

Voluntary Disclosure Programs — Design, Principles, and Implementation Considerations

Author: Ms. Dora Benedek

Publisher: International Monetary Fund

Published: 2022-04-06

Total Pages: 39

ISBN-13:

DOWNLOAD EBOOK

This note explores the conditions, design elements, and implementation considerations of a successful voluntary disclosure program (VDP), including its compliance with anti–money laundering/combating the financing of terrorism (AML/CFT) international standards. The note emphasizes that such a program must be offered in the context of a considerably strengthened and credible enforcement capacity—one that is explicitly publicized to taxpayers—to avoid undermining tax morale.


Corporate Taxation in the Global Economy

Corporate Taxation in the Global Economy

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2019-03-10

Total Pages: 91

ISBN-13: 149830219X

DOWNLOAD EBOOK

The policy paper Corporate Taxation in the Global Economy stresses the need to maintain and build on the progress in international cooperation on tax matters that has been achieved in recent years, and in some respects now appears under stress. With special attention to the circumstances of developing countries, the paper identifies and discusses various options currently under discussion for the international tax system to ensure that countries, and in particular low-income countries, can continue to collect corporate tax revenues from multinational activities.