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Automatic Exchange of Information as the new global standard: the end of (offshore tax evasion) history?

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  • Meinzer, Markus

Abstract

Automatic exchange of information (AEoI) for tax purposes has become the global standard for international tax cooperation in 2013. As a tool for containing offshore tax evasion, it has encountered opposition in the past and continues to be fraught with challenges. This paper recapitulates the rationale for AEoI, including estimates on the magnitudes of assets held offshore, with a specific focus on Turkish assets held in Germany (chapter 1). Subsequently, chapter 2 summarises the recent history and describes the processes and milestones until breakthrough for global AEoI in 2013. Chapter 3 then discusses three current challenges, including the de facto exclusion of developing countries; how to incentivise recalcitrant jurisdictions to participate, such as the USA; and issues around the implementation of the CRS, including OECD’s Global Forum of Transparency and Exchange of Information, the peer reviews and public statistics. Chapter 4 concludes.

Suggested Citation

  • Meinzer, Markus, 2017. "Automatic Exchange of Information as the new global standard: the end of (offshore tax evasion) history?," MPRA Paper 77576, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:77576
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    File URL: https://mpra.ub.uni-muenchen.de/77576/1/MPRA_paper_77576.pdf
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    References listed on IDEAS

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    1. Frey, Bruno S. & Torgler, Benno, 2007. "Tax morale and conditional cooperation," Journal of Comparative Economics, Elsevier, vol. 35(1), pages 136-159, March.
    2. Palan, Ronen, 2002. "Tax Havens and the Commercialization of State Sovereignty," International Organization, Cambridge University Press, vol. 56(1), pages 151-176, January.
    3. Gabriel Zucman, 2014. "Taxing across Borders: Tracking Personal Wealth and Corporate Profits," Journal of Economic Perspectives, American Economic Association, vol. 28(4), pages 121-148, Fall.
    4. Alex Cobham & Petr Janský & Markus Meinzer, 2015. "The Financial Secrecy Index: Shedding New Light on the Geography of Secrecy," Economic Geography, Taylor & Francis Journals, vol. 91(3), pages 281-303, July.
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    Cited by:

    1. Matti Ylönen, 2017. "Policy diffusion within international organizations: A bottom-up analysis of International Monetary Fund tax work in Panama, Seychelles, and the Netherlands," WIDER Working Paper Series 157, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    Offshore Finance; International Cooperation; Money Laundering; Economic Development; Developing Countries; Tax Havens; Secrecy Jurisdictions;

    JEL classification:

    • F3 - International Economics - - International Finance
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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