Tax Evasion and Incomplete Tax Transparency

Noked, Noam

doi:10.3390/laws7030031

Cited by 17 publications

(11 citation statements)

References 17 publications

(21 reference statements)

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“…A special burden falls on financial institutions with a wide international network of entities, since the implementation of new international rules by each state has its own peculiarities (Casi et al, 2019). The introduction of national registries of beneficial owners can partly reduce the burden on financial institutions (Noked, 2018).…”

Section: Resultsmentioning

confidence: 99%

Financial Organizations As Subjects Of Relations Arising From The Automatic Exchange Information

Bakaeva¹

2022

European Proceedings of Social and Behavioural Sciences

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The article examines the issue of the appearance in the national tax law of the new subjects of tax legal relations -financial market organizations. The authors highlight the similar features of the tax and legal status of financial market organizations with the rights and obligations of both banks and other tax law subjects, involved in organizing taxpayers' registration and tax control. The main difference between financial market organizations, performing duties according to the standard of international exchange of taxrelevant information and the persons, obliged to provide information about taxpayers is that the former have to carry out the necessary and sufficient set of measures aimed at gathering reliable data about their clients. The incorporation of regulations on financial market organizations in domestic tax law is due to the fulfillment by the Russian Federation of its obligations to implement international standards of automatic information exchange for tax control purposes. The analysis of comments to international reporting standards presented in the article, made it possible to add the thesis that financial market organizations are entrusted with an active function of participating in tax control. The authors also point out that the additional function assigned to financial market organizations requires the involvement of significant material and professional resources, as stated by numerous foreign sources.

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Section: Resultsmentioning

confidence: 99%

Financial Organizations As Subjects Of Relations Arising From The Automatic Exchange Information

Bakaeva¹

2022

European Proceedings of Social and Behavioural Sciences

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“…However, such opportunities in practice depend on perfecting the legal framework and effectiveness of administering information transmitted via the international exchange (Pross, 2015). Besides, despite all the measures taken, there are certain gaps in the financial control mechanism based on application of automatic exchange of information in accordance with the CRS; therefore, at present, international tax transparency can be called partial or emerging (Morris, 2017;Noked, 2018a) 22 . These gaps reduce the effectiveness of measures aimed at preventing crime in the financial sector, since there is an inverse relationship between tax risks and propensity of taxpayers to commit offenses (Drake, Lusch & Stekelberg, 2019).…”

Section: Discussionmentioning

confidence: 99%

“…It is of interest to study global practices of applying legal mechanisms aimed at preventing tax evasion by transferring income from the country of tax residence to countries with a lower tax burden, in particular, CFC rules. It is also important to consider the impact of international tax transparency on financial relations between a state and its tax residents who own assets abroad (Meyer, 2013;Morris, 2017;Noked, 2018a). The study of Russian legislation on controlled foreign companies in the context of global trends will expand the existing scientific views on the norms of anti-offshore regulation; it will also contribute to the improvement of legal mechanisms in this area.…”

Section: Introductionmentioning

confidence: 99%

Controlled foreign companies of Russian residents in the context of world trends

Frolova

Tsepova

2021

Vestn. Ross. univ. družby nar., Ser. Ûrid. nauki

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The subject of this article is financial relations of the state and its tax residents with foreign assets (stock), as well as control over such companies through various legal mechanisms. The authors examined the main global trends in the development of legislation on controlled foreign corporations, as well as characteristics of tax systems that may contribute to such norms introduction. It was found that implementation of international multilateral agreements such as CRS MCAA and CBC MCAA in the field of tax control enhances development of anti-offshore regulation, including legislation on controlled foreign corporations. Particular attention is paid to the comparative legal analysis of the controlled foreign companies (CFC) rules in 15 jurisdictions, including the Russian Federation and identification of similar and specific rules. As a result of the research, the authors came to the conclusion that Russia is following the world trends, although at this stage it is not the country that forms them. In the future, to successfully apply the CFC legislation in the Russian Federation, it will be necessary to improve the existing norms , increase the efficiency of tax administration and improve the legal status of taxpayers.

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“…Prior assessment of the important needs for AEOI standard [17,18,19] Challenges and benefits of AEOI standard [20,21,22,23,24] Evaluation of the Common Reporting Standard (CRS) [5,25,26,27,28,29,30] Evaluation of the AEOI standard and its implications [31,32,33,34] Implementation of AEOI standard within National Laws [12,13,14,15,16] AEOI standard and privacy issues [5,35,36] From the technological point of view, the CRS from AEOI standard can be seen as a standardization effort taking place on the data level, including the use of XML schema and the use of generic data definition [11,26,37]. Developing the Information sharing infrastructure that enabling the CRS reporting is still challenging [5] due to, for example, different IT maturity, inexperience dealing with the standard, unawareness about required reporting processes as well as the ambiguity of risks, costs, and benefits.…”

Section: Topic Addressed Sourcementioning

confidence: 99%

A Comparative Study of Business-to-Government Information Sharing Arrangements for Tax Reporting

Kurnia

Praditya

Janssen

2019

IFIP Advances in Information and Communication Technology

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Having tax transparency is getting more important and enforced by more and more countries around the world. To deal with tax evasion, OECD has developed an Automatic Exchange of Information (AEOI) standard. The implementation of this standard differs among countries. In this study, we explore factors explaining the differences between two information sharing arrangements implementing the AEOI standard. In both cases the information sharing architecture and the accompanying governance arrangement are investigated. The findings of the exploratory study show that the differences are influenced by avaiable IT capabilities, interoperability, trust among informaiton sharing partners, power difference, interorganizational relationship, and perceived benefits of implementing such arrangement. Ten propositions are derive explaining the differences which can be tested in further research.

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Tax Evasion and Incomplete Tax Transparency

Cited by 17 publications

References 17 publications

Financial Organizations As Subjects Of Relations Arising From The Automatic Exchange Information

Financial Organizations As Subjects Of Relations Arising From The Automatic Exchange Information

Controlled foreign companies of Russian residents in the context of world trends

A Comparative Study of Business-to-Government Information Sharing Arrangements for Tax Reporting

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