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Author : Jane Gravelle
Publisher : DIANE Publishing
ISBN 13 : 1437941117
Total Pages : 52 pages
Book Rating : 4.4/5 (379 download)
Download or read book Tax Havens: International Tax Avoidance and Evasion written by Jane Gravelle and published by DIANE Publishing. This book was released on 2009 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Congressional Research Congressional Research Service
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781507734483
Total Pages : 0 pages
Book Rating : 4.7/5 (344 download)
Download or read book Tax Havens written by Congressional Research Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2015-01-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing tax evasion and avoidance through use of tax havens has been the subject of a number of proposals in Congress and by the President. Actions by the Organization for Economic Cooperation and Development (OECD) and the G-20 industrialized nations also have addressed this issue. In the 111th Congress, the HIRE Act (P.L. 111-147) included several anti-evasion provisions, and P.L. 111-226 included foreign tax credit provisions directed at perceived abuses by U.S. multinationals. Numerous legislative proposals to address both individual tax evasion and corporate tax avoidance have been advanced. Multinational firms can artificially shift profits from high-tax to low-tax jurisdictions using a variety of techniques, such as shifting debt to high-tax jurisdictions. Because tax on the income of foreign subsidiaries (except for certain passive income) is deferred until income is repatriated (paid to the U.S. parent as a dividend), this income can avoid current U.S. taxes, perhaps indefinitely. The taxation of passive income (called Subpart F income) has been reduced, perhaps significantly, through the use of hybrid entities that are treated differently in different jurisdictions. The use of hybrid entities was greatly expanded by a new regulation (termed check-the-box) introduced in the late 1990s that had unintended consequences for foreign firms. In addition, earnings from income that is taxed often can be shielded by foreign tax credits on other income. On average, very little tax is paid on the foreign source income of U.S. firms. Ample evidence of a significant amount of profit shifting exists, but the revenue cost estimates vary substantially. Evidence also indicates a significant increase in corporate profit shifting over the past several years. Recent estimates suggest losses that may approach, or even exceed, $100 billion per year. Individuals can evade taxes on passive income, such as interest, dividends, and capital gains, by not reporting income earned abroad. In addition, because interest paid to foreign recipients is not taxed, individuals can evade taxes on U.S. source income by setting up shell corporations and trusts in foreign haven countries to channel funds into foreign jurisdictions. There is no general third-party reporting of income as is the case for ordinary passive income earned domestically; the Internal Revenue Service (IRS) relies on qualified intermediaries (QIs). In the past, these institutions certified nationality without revealing the beneficial owners. Estimates of the cost of individual evasion have ranged from $40 billion to $70 billion. The Foreign Account Tax Compliance Act (FATCA; included in the HIRE Act, P.L. 111-147) introduced required information reporting by foreign financial intermediaries and withholding of tax if information is not provided. These provisions became effective only recently, and their consequences are not yet known. Most provisions to address profit shifting by multinational firms would involve changing the tax law: repealing or limiting deferral, limiting the ability of the foreign tax credit to offset income, addressing check-the-box, or even formula apportionment. President Obama's proposals include a proposal to disallow overall deductions and foreign tax credits for deferred income, along with a number of other restrictions. Changes in the law or anti-abuse provisions have also been introduced in broader tax reform proposals. Provisions to address individual evasion include increased information reporting and provisions to increase enforcement, such as shifting the burden of proof to the taxpayer, increased penalties, and increased resources. Individual tax evasion is the main target of the HIRE Act, the proposed Stop Tax Haven Abuse Act, and some other proposals.
Author : Jane Gravelle
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (15 download)
Download or read book Tax Havens written by Jane Gravelle and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first section of this report reviews what countries might be considered tax havens, including a discussion of the Organization for Economic Development and Cooperation (OECD) initiatives and lists. The next two sections discuss, in turn, the corporate profit-shifting mechanisms and evidence on the existence and magnitude of profit shifting activity. The following two sections provide the same analysis for individual tax evasion. The report concludes with overviews of alternative policy options and a summary of specific legislative proposals.
Author : Organisation for Economic Co-operation and Development. Committee on Fiscal Affairs
Publisher : Organization for Economic Co-operation and Development ; [Washington, D.C. : OECD Publications and Information Centre
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.:/5 (318 download)
Download or read book International Tax Avoidance and Evasion written by Organisation for Economic Co-operation and Development. Committee on Fiscal Affairs and published by Organization for Economic Co-operation and Development ; [Washington, D.C. : OECD Publications and Information Centre. This book was released on 1987 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compilation of four related studies.
Author : Jonathan K. Burkin
Publisher :
ISBN 13 : 9781611228922
Total Pages : 0 pages
Book Rating : 4.2/5 (289 download)
Download or read book Tax Havens written by Jonathan K. Burkin and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government loses both individual and corporate income tax revenue from the shifting of profits and income into low-tax countries, often referred to as tax havens. The revenue losses from this tax avoidance and evasion are difficult to estimate, but some have suggested that the annual cost of offshore tax abuses may be around $100 billion per year. International tax avoidance can arise from large multinational corporations who shift profits into low-tax foreign subsidiaries or wealthy individual investors who set up secret bank accounts in tax haven countries. This book explores tax havens, as well as the issues in international avoidance and evasion.
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 926460507X
Total Pages : 108 pages
Book Rating : 4.2/5 (646 download)
Download or read book Issues in International Taxation International Tax Avoidance and Evasion Four Related Studies written by OECD and published by OECD Publishing. This book was released on 1987-04-30 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first report outlines the reasons why international tax avoidance and evasion through the use of tax havens is a concern to the tax authorities of OECD Member countries and examines measures introduced to combat such use. The second report sets out the problems posed for tax administrations by the fact that their resident taxpayers make use of base companies (generally subsidiary companies) in tax havens to shelter there income derived from source countries (which may in some cases be the residence country itself) and in that way to escape tax normally payable to the country of residence. The third report deals with the problems created for tax authorities in source countries by the mechanism of "treaty shopping". The final report deals with taxation and the abuse of bank secrecy.
Author : Richard A. Gordon
Publisher : The Minerva Group, Inc.
ISBN 13 : 089499137X
Total Pages : 277 pages
Book Rating : 4.8/5 (949 download)
Download or read book Tax Havens and Their Use by United States Taxpayers - An Overview written by Richard A. Gordon and published by The Minerva Group, Inc.. This book was released on 2002-08 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was written at the request of the Commissioner of Internal Revenue, The Assistant Attorney General (Tax Division), and the Assistant Secretary of the Treasury (Tax Policy).The purpose of this book was to develop an overview of tax havens and the use of tax havens by United States taxpayers. The study sought to determine the frequency and nature of tax haven transactions, identify specific types of tax haven transactions, obtain a description of the United States and foreign legal and regulatory environment in which tax haven transactions are conducted, describe Internal Revenue Service and Justice Department efforts to deal with tax haven related transactions, and to identify interagency coordination problems.The findings are based on a review of judicial decisions and published literature in the field of international tax planning, research into internal IRS documents concerning taxpayer activities, interviews with IRS personnel, personnel who deal with tax haven issues for other Federal government agencies, and lawyers and certified public accountants who specialize in international taxation. The findings are also based on a statistical analysis of available data concerning international banking, United States direct investment abroad, and foreign investment in the United States. While the findings did not uncover all the methods employed to use tax havens, the belief is that the inquiry was extensive enough to give an understanding of the situation and to enable the IRS to develop options which might be useful in improving the administration of the tax laws as they apply to tax havens
Author : Ronen Palan
Publisher : Cornell University Press
ISBN 13 : 0801468566
Total Pages : 280 pages
Book Rating : 4.8/5 (14 download)
Download or read book Tax Havens written by Ronen Palan and published by Cornell University Press. This book was released on 2013-02-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Cayman Islands and the Isle of Man to the Principality of Liechtenstein and the state of Delaware, tax havens offer lower tax rates, less stringent regulations and enforcement, and promises of strict secrecy to individuals and corporations alike. In recent years government regulators, hoping to remedy economic crisis by diverting capital from hidden channels back into taxable view, have undertaken sustained and serious efforts to force tax havens into compliance. In Tax Havens, Ronen Palan, Richard Murphy, and Christian Chavagneux provide an up-to-date evaluation of the role and function of tax havens in the global financial system-their history, inner workings, impact, extent, and enforcement. They make clear that while, individually, tax havens may appear insignificant, together they have a major impact on the global economy. Holding up to $13 trillion of personal wealth-the equivalent of the annual U.S. Gross National Product-and serving as the legal home of two million corporate entities and half of all international lending banks, tax havens also skew the distribution of globalization's costs and benefits to the detriment of developing economies. The first comprehensive account of these entities, this book challenges much of the conventional wisdom about tax havens. The authors reveal that, rather than operating at the margins of the world economy, tax havens are integral to it. More than simple conduits for tax avoidance and evasion, tax havens actually belong to the broad world of finance, to the business of managing the monetary resources of individuals, organizations, and countries. They have become among the most powerful instruments of globalization, one of the principal causes of global financial instability, and one of the large political issues of our times.
Author : Richard A. Gordon
Publisher :
ISBN 13 :
Total Pages : 252 pages
Book Rating : 4.3/5 (121 download)
Download or read book Tax Havens and Their Use by United States Taxpayers written by Richard A. Gordon and published by . This book was released on 1981 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overview of tax havens and the use of tax havens by US taxpayers. The study sought to determine the frequency and nature of tax haven transactions, identify specific types of tax haven transactions, obtain a description of the US and foreign legal and regulatory environment in which tax haven transactions are conducted, describe the IRS and Justice Department efforts to deal with tax haven related transactions, and to identify interagency coordination problems.
Author : Gabriel Zucman
Publisher : University of Chicago Press
ISBN 13 : 022624556X
Total Pages : 142 pages
Book Rating : 4.2/5 (262 download)
Download or read book The Hidden Wealth of Nations written by Gabriel Zucman and published by University of Chicago Press. This book was released on 2015-09-22 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: We are well aware of the rise of the 1% as the rapid growth of economic inequality has put the majority of the world’s wealth in the pockets of fewer and fewer. One much-discussed solution to this imbalance is to significantly increase the rate at which we tax the wealthy. But with an enormous amount of the world’s wealth hidden in tax havens—in countries like Switzerland, Luxembourg, and the Cayman Islands—this wealth cannot be fully accounted for and taxed fairly. No one, from economists to bankers to politicians, has been able to quantify exactly how much of the world’s assets are currently hidden—until now. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world’s money held in tax havens. And it’s staggering. In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution. His research reveals that tax havens are a quickly growing danger to the world economy. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. Fighting the notion that any attempts to vanquish tax havens are futile, since some countries will always offer more advantageous tax rates than others, as well the counter-argument that since the financial crisis tax havens have disappeared, Zucman shows how both sides are actually very wrong. In The Hidden Wealth of Nations he offers an ambitious agenda for reform, focused on ways in which countries can change the incentives of tax havens. Only by first understanding the enormity of the secret wealth can we begin to estimate the kind of actions that would force tax havens to give up their practices. Zucman’s work has quickly become the gold standard for quantifying the amount of the world’s assets held in havens. In this concise book, he lays out in approachable language how the international banking system works and the dangerous extent to which the large-scale evasion of taxes is undermining the global market as a whole. If we are to find a way to solve the problem of increasing inequality, The Hidden Wealth of Nations is essential reading.
Author : Ronen Palan
Publisher : Cornell University Press
ISBN 13 : 0801468558
Total Pages : 281 pages
Book Rating : 4.8/5 (14 download)
Download or read book Tax Havens written by Ronen Palan and published by Cornell University Press. This book was released on 2013-04-15 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Cayman Islands and the Isle of Man to the Principality of Liechtenstein and the state of Delaware, tax havens offer lower tax rates, less stringent regulations and enforcement, and promises of strict secrecy to individuals and corporations alike. In recent years government regulators, hoping to remedy economic crisis by diverting capital from hidden channels back into taxable view, have undertaken sustained and serious efforts to force tax havens into compliance.In Tax Havens, Ronen Palan, Richard Murphy, and Christian Chavagneux provide an up-to-date evaluation of the role and function of tax havens in the global financial system—their history, inner workings, impact, extent, and enforcement. They make clear that while, individually, tax havens may appear insignificant, together they have a major impact on the global economy. Holding up to $13 trillion of personal wealth—the equivalent of the annual U.S. Gross National Product—and serving as the legal home of two million corporate entities and half of all international lending banks, tax havens also skew the distribution of globalization's costs and benefits to the detriment of developing economies.The first comprehensive account of these entities, this book challenges much of the conventional wisdom about tax havens. The authors reveal that, rather than operating at the margins of the world economy, tax havens are integral to it. More than simple conduits for tax avoidance and evasion, tax havens actually belong to the broad world of finance, to the business of managing the monetary resources of individuals, organizations, and countries. They have become among the most powerful instruments of globalization, one of the principal causes of global financial instability, and one of the large political issues of our times.
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264755020
Total Pages : 68 pages
Book Rating : 4.2/5 (647 download)
Download or read book Tax Morale What Drives People and Businesses to Pay Tax? written by OECD and published by OECD Publishing. This book was released on 2019-09-11 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unlocking what drives tax morale – the intrinsic willingness to pay tax – can greatly assist governments in the design of tax policies and their administration, particularly in developing countries where compliance rates are low. This report builds on previous OECD research to identify some of the key socio-economic and institutional drivers of tax morale across developing countries, and seeks to test for evidence of the social contract by examining the impact of public services on tax morale. It also uses new data on tax certainty as an entry point to explore tax morale in businesses, where existing research is very limited. Finally, the report identifies a range of factors related to the tax system that may affect business decision making, how they vary across regions, and suggests some areas for future research. Overall, the report provides a range of suggestions for further work, and how tax morale considerations can be integrated into holistic tax compliance strategies.
Author : John Francis Avery Jones
Publisher :
ISBN 13 :
Total Pages : 166 pages
Book Rating : 4.3/5 (512 download)
Download or read book Tax Havens and Measures Against Tax Evasion and Avoidance in the EEC written by John Francis Avery Jones and published by . This book was released on 1974 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains, in a slightly edited version, the papers given at a conference organized by Associated Business Programmes in Amsterdam in November 1973.
Author : Paul Beckett
Publisher : Routledge
ISBN 13 : 1317210921
Total Pages : 346 pages
Book Rating : 4.3/5 (172 download)
Download or read book Tax Havens and International Human Rights written by Paul Beckett and published by Routledge. This book was released on 2017-10-02 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sails in uncharted waters. It takes a human rights-based approach to tax havens, and is a detailed analysis of structures and the laws that generate and support these. It makes plain the unscrupulous or merely indifferent ways in which, using tax havens, businesses and individuals systematically undermine and for all practical purposes eliminate access to remedies under international human rights law. It exposes as abusive of human rights a complex structural web of trusts, companies, partnerships, foundations, nominees and fiduciaries; secrecy, immunity and smoke screens. It also lays bare the cynical manipulation by tax havens of traditional legal forms and conventions, and the creation of entities so bizarre and chimeric that they defy classification. Yet from the perspective of the tax havens themselves, these are entirely legitimate; the product of duly enacted domestic laws. This book is not a work of investigative journalism in the style of the Pulitzer Prize-winning authors of The Panama Papers, exposing political or financial corruption, money laundering or the financing of terrorism. All those elements are present of course, but the focus is on international human rights and how tax havens do not merely facilitate but actively connive at their breach. The tax havens are compromising the international human rights legal continuum.
Author : Gabriel Zucman
Publisher : University of Chicago Press
ISBN 13 : 022642264X
Total Pages : 142 pages
Book Rating : 4.2/5 (264 download)
Download or read book The Hidden Wealth of Nations written by Gabriel Zucman and published by University of Chicago Press. This book was released on 2016-07-22 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everyone knows the super rich are hiding tons of money and not paying near enough taxes. This common knowledge that the wealthy have found ways around taxation by moving their assets to countries that don t tax them raises the question of how much of the world s wealth is hidden and how. Gabriel Zucman, a prominent young French economist, has come up with novel yet effective ways of quantifying how big the problem is, how tax havens work and are organized, and how we can begin to tackle the problem. Digging deep into the global data and comparing it with that of individual and international institutions, "The Hidden Wealth of Nations" offers for the first time a full picture of how this sophisticated international system works and is organized in practice. It is an invaluable glimpse at one of the most powerful forces contributing to inequality across the globe."
Author : Korinna Schönhärl
Publisher : Taylor & Francis
ISBN 13 : 1000823903
Total Pages : 324 pages
Book Rating : 4.0/5 (8 download)
Download or read book Histories of Tax Evasion, Avoidance and Resistance written by Korinna Schönhärl and published by Taylor & Francis. This book was released on 2022-12-05 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax evasion, tax avoidance and tax resistance are widespread phenomena in political, economic, social and fiscal history from antiquity through medieval, early modern and modern times. Histories of Tax Evasion, Avoidance and Resistance shows how different groups and individuals around the globe have succeeded or failed in not paying their due taxes, whether in kind or in cash, on their properties or on their crops. It analyses how, throughout history, wealthy and poor taxpayers have tried to avoid or reduce their tax burden by negotiating with tax authorities, through practices of legal or illegal tax evasion, by filing lawsuits, seeking armed resistance or by migration, and how state authorities have dealt with such acts of claim making, defiance, open resistance or elusion. It fills an important research gap in tax history, addressing questions of tax morale and fairness, and how social and political inequality was negotiated through taxation. It gives rich insights into the development of citizen-state relationships throughout the course of history. The book comprises case studies from Ancient Athens, Roman Egypt, Medieval Europe, Early Modern Mexico, the Ottoman Empire, Nigeria under British colonial rule, the United Kingdom of the early 20th century, Greece during the Second World War, as well as West Germany, Switzerland, Sweden and the United States in the 20th century, including transnational entanglements in the world of late-modern offshore finance and taxation. The authors are experts in fiscal, economic, financial, legal, social and/or cultural history. The book is intended for students, researchers and scholars of economic and financial history, social and world history and political economy. The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Share Alike 4.0 license.
Author : Dhammika Dharmapala
Publisher : Edward Elgar Publishing
ISBN 13 : 9781785367441
Total Pages : pages
Book Rating : 4.3/5 (674 download)
Download or read book The Economics of Tax Avoidance and Evasion written by Dhammika Dharmapala and published by Edward Elgar Publishing. This book was released on 2017-04-28 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax compliance issues enjoy an unprecedented degree of public attention today and are of great importance to governments and policymaking. This single volume provides an overview of some of the most significant contributions to the economic analysis of tax avoidance and evasion and also sheds light on broader questions of social organization, behaviour, and compliance with the law. With an original introduction by the editor, this insightful book provides researchers and students with a guide to the fundamental intellectual developments that have shaped the economic understanding of tax avoidance and evasion, along with a framework for placing these contributions in their intellectual context.
