Turning into Sterne

Finer, Emily

doi:10.4324/9781351193870

2017

DOI: 10.4324/9781351193870

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Turning into Sterne

Emily Finer¹

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2018

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“…70 Establishing this ambiguous category may create opportunities to offshore locations to set up additional categories of non-reportable financial intuitions and in this way hinder the efficiency of the CRS in fighting tax evasion based on bank secrecy. 71 However, the aim of the OECD model…”

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confidence: 99%

Cross-Border Tax Evasion after the Common Reporting Standard: Game Over?

2018

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. http://ftp.zew.de/pub/zew-docs/dp/dp18036.pdf Die Dis cus si on Pape rs die nen einer mög lichst schnel len Ver brei tung von neue ren For schungs arbei ten des ZEW. Die Bei trä ge lie gen in allei ni ger Ver ant wor tung der Auto ren und stel len nicht not wen di ger wei se die Mei nung des ZEW dar. Terms of use: Documents inDis cus si on Papers are inten ded to make results of ZEW research prompt ly avai la ble to other eco no mists in order to encou ra ge dis cus si on and sug gesti ons for revi si ons. The aut hors are sole ly respon si ble for the con tents which do not neces sa ri ly repre sent the opi ni on of the ZEW. Cross-Border Tax Evasion After the Common AbstractBack 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)(2015)(2016)(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.JEL Classification: F42, G21, H26, H31

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confidence: 99%

Cross-Border Tax Evasion after the Common Reporting Standard: Game Over?

2018

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Turning into Sterne

Cited by 1 publication

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Cross-Border Tax Evasion after the Common Reporting Standard: Game Over?

Cross-Border Tax Evasion after the Common Reporting Standard: Game Over?

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