Information Exchange and Tax Transparency-Tackling Global Tax Evasion and Avoidance

Information Exchange and Tax Transparency-Tackling Global Tax Evasion and Avoidance
In recent years, tackling global tax evasion and avoidance, facilitated through off shore legal entities and structures, has become a priority for governments around the globe. The political support for addressing this menace has resulted in development of standards on transparency and exchange of information and almost every jurisdiction in the world has now committed to implement these standards. This book provides guidance to tax authorities, taxpayers, tax professionals and public at large in understanding how global transparency and the commitment of jurisdictions to exchange information would facilitate investigation of cross-border transactions for effective protection of domestic tax revenue. Key Highlights:- • Explains the role of tax havens and off shore financial centres in global tax evasion and avoidance • Discusses how tax havens and off shore financial centres have been “identified” and listed over the years • Discusses off shore leaks in brief like “Panama Papers” and their role in creating deterrence against off shore tax evasion and avoidance • Discusses the development of global standards on transparency and exchange of information and the role of OECD, G20 and Global Forum in developing these standards • Provides the details of assessments undertaken by the Global Forum regarding actual implementation of exchange of information and results of these assessments along with “Ratings” • Discusses the legal provisions and relevant case law around the world for exchange of information including Article 26 of the OECD and UN Model DTAAs, TIEAs and Multi lateral Convention on Mutual Administrative Assistance in Tax Matters, including their historical development over the years
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