Voluntary disclosure schemes for offshore tax evasion

Matthew Rablen and Matthew Gould
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Matthew Gould: Institute for Fiscal Studies

No W18/07, IFS Working Papers from Institute for Fiscal Studies

Abstract: Tax authorities worldwide are implementing voluntary disclosure schemes to recover tax on offshore investments. Such schemes are typically designed retrospectively following the bulk acquisition of information on offshore holdings, such as the recent ?Paradise? and ?Panama? papers. They offer an opportunity for affected taxpayers to make a voluntary disclosure, with reduced fine rates for truthful disclosure. We characterize the taxpayer/tax authority game with and without a scheme and show that a scheme increases net expected tax revenue, decreases illegal offshore investment, increases onshore investment, and could either increase or decrease total offshore investment (legal plus illegal).

Keywords: voluntary disclosure; offshore tax evasion; tax amnesty; third-party information (search for similar items in EconPapers)
JEL-codes: D85 H26 (search for similar items in EconPapers)
Date: 2018-03-05
New Economics Papers: this item is included in nep-acc, nep-iue, nep-law and nep-pbe
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Related works:
Journal Article: Voluntary disclosure schemes for offshore tax evasion (2020)
Working Paper: Voluntary Disclosure Schemes for Offshore Tax Evasion (2019)
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