The Belt and Road Initiative and the Ticking Time Bomb of Offshore Tax Evasion and Avoidance

Michael Tyrala ()
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Michael Tyrala: Postdoctoral Fellow, Institute of Emerging Market Studies

No 2020-39, HKUST IEMS Thought Leadership Brief Series from HKUST Institute for Emerging Market Studies

Abstract: Offshore tax evasion and avoidance represent a serious threat to the financial and reputational integrity of the BRI. Most BRI countries are not party to either of the two global standards for financial and tax transparency, which leaves them particularly vulnerable to the threat. China's single-minded focus on reducing tax frictions for BRI cross-border investment has led it to emphasize other tax priorities rather than financial and tax transparency, further exacerbating the threat. China should give high priority to financial and tax transparency in BRI countries, and lead the way by going beyond the two global standards wherever appropriate, such as through public disclosures and extensive non-reciprocal sharing of information.

Keywords: Belt and Road; China; Financial Development; Global Economy (search for similar items in EconPapers)
Date: 2020-07, Revised 2020-07
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