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

Markus Meinzer

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Offshore Finance; International Cooperation; Money Laundering; Economic Development; Developing Countries; Tax Havens; Secrecy Jurisdictions (search for similar items in EconPapers)
JEL-codes: F3 F5 F53 (search for similar items in EconPapers)
Date: 2017-02-27
New Economics Papers: this item is included in nep-iue
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