International Tax Evasion in the Global Information Age
International Tax Evasion in the Global Information Age
This book provides a comprehensive analysis of the Organisation for Economic Cooperation and Developments (OECD) war on offshore tax evasion. The authors explain the new emerging regulatory regimes on the global exchange of information to combat offshore tax evasion and analyse why Automatic Exchange of Information (AEOI) is not a magic bullet solution. Chapters include coverage of the Foreign Account Tax Compliance Act (FATCA), AEOI and the Common Reporting Standards (CRS), and the unprecedented extra-territorial enforcement by the United States of its tax and reporting laws, including the FBAR provisions of the Bank Secrecy Act. These new legal regimes directly impact nearly all financial institutions and financial service providers in the U.S., U.K., EU, Canada, and each of the 132 member jurisdictions of the OECDs Global Forum, as well as 8 million U.S. expats. In light of The Panama Papers, this book offers a timely and valuable contribution on the prevalence andcosts of international tax evasion for the global financial community, policy-makers, and practitioners alike. ... Show More Show Less