Lost in Information: National Implementation of Global Tax Agreements

Annette Alstadsæter, Elisa Casi-Eberhard, Jakob Miethe and Barbara M. B. Stage (barbara.stage@whu.edu)
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Barbara M. B. Stage: WHU – Otto Beisheim School of Management, Postal: WHU – Otto Beisheim School of Management , Burgplatz 2, D-56179 Vallendar, Germany, https://www.whu.edu/en/faculty/barbara-stage/

No 2023/22, Discussion Papers from Norwegian School of Economics, Department of Business and Management Science

Abstract: In unparalleled international coordination, more than 100 countries adopted the Common Reporting Standard (CRS), committing to automatically exchange information on citizens’ foreign financial assets. We study how heterogeneity in national CRS implementation shapes its effectiveness. Using data on cross-border bank transfers to Norway with unparalleled detail on hidden ownership structures, we find that cash repatriation from tax havens increases significantly post-CRS, but only from countries with vigorous enforcement. Relying on global data on cross-border bank deposits, we show that highly digitized tax administrations trigger twice the drop in tax haven deposits in response to the CRS.

Keywords: Global Tax Agreements; Tax Evasion; Financial Flows; Tax Enforcement (search for similar items in EconPapers)
JEL-codes: F42 G21 H26 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2023-11-13, Revised 2024-09-27
New Economics Papers: this item is included in nep-acc, nep-ifn, nep-iue and nep-pbe
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:nhhfms:2023_022

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