Cross-border tax evasion after the common reporting standard : game over?


Casi, Elisa ; Spengel, Christoph ; Stage, Barbara



Document Type: Conference presentation
Year of publication: 2018
Conference title: 16th meeting of the Belgian Financial Research Forum
Location of the conference venue: Bruxelles, Belgium
Date of the conference: 01.06.2018
Publication language: English
Institution: Business School > ABWL u. Betriebswirtschaftliche Steuerlehre II (Spengel)
Subject: 330 Economics
Abstract: Back in 2013, the Automatic Exchange of Information (AEOI) was endorsed as the prevailing universal solution to fight cross-border tax evasion. In this regard, the OECD launched a global standard for the AEOI, the Common Reporting Standard (CRS). Currently, around 100 jurisdictions have committed to implement it into respective national laws by 2018. In this study, we analyze the impact of the CRS on cross-border tax evasion using a difference-in-difference research design. By considering a period of four years (2014-2017), results suggest that the CRS induced a reduction of 14% in cross-border deposits parked in offshore locations for tax evasion purposes. Moreover, such wealth and related income has not been repatriated but rather a new location to avoid domestic tax obligations has emerged. More specifically, upon the CRS implementation at domestic level, the United States (U.S.), i.e. the only major economy in the world, which so far did not commit to the CRS, seems to emerge as a potentially attractive location for cross-border tax evasion.




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Casi, Elisa ; Spengel, Christoph ; Stage, Barbara Cross-border tax evasion after the common reporting standard : game over? (2018) 16th meeting of the Belgian Financial Research Forum (Bruxelles, Belgium) [Conference presentation]


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