A call to action : from evolution to revolution on the common reporting standard


Casi, Elisa ; Nenadic, Sara ; Dinko Orlic, Mark ; Spengel, Christoph


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URL: https://madoc.bib.uni-mannheim.de/46607
URN: urn:nbn:de:bsz:180-madoc-466079
Document Type: Working paper
Year of publication: 2018
The title of a journal, publication series: ZEW Discussion Papers
Volume: 18-035
Place of publication: Mannheim
Publication language: English
Institution: Business School > ABWL u. Betriebswirtschaftliche Steuerlehre II (Spengel)
Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: F42 , G21 , H26 , H31,
Keywords (English): automatic exchange of information , tax evasion , offshore locations , common reporting standard
Abstract: As a result of technical development and globalization, investing abroad has become much more accessible, and thus, an important channel for transferring wealth and income to offshore locations with the aim to avoid tax obligations at home. In this regard, the automatic exchange of information (AEOI) across countries is a strong weapon to stop cross-border tax evasion. This is why, in 2014, the Organization for Economic Cooperation and Development (OECD) launched its proposal for a global AEOI standard, the so-called Common Reporting Standard (CRS). This article provides a cross-country analysis of the national CRS laws for a sample of 41 countries with the aim to determine whether significant deviations from the original OECD model may hinder the effectiveness of the AEOI. Our key recommendation to the OECD and all participating jurisdictions is to achieve a higher level of standardization when designing CRS locally. Furthermore, international pressure on the U.S. to join the CRS is needed. A global AEOI system having the potential to put an end to cross-border tax evasion can be achieved only with the elimination of all attractive locations for illicit financial flows.
Additional information: Erschienen im British Tax Review (BTR), 2019, 2, S. 166-204 --> https://ub-madoc.bib.uni-mannheim.de/50146/

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Casi, Elisa ; Nenadic, Sara ; Dinko Orlic, Mark ; Spengel, Christoph (2018) A call to action : from evolution to revolution on the common reporting standard. Open Access ZEW Discussion Papers Mannheim 18-035 [Working paper]
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