Automatic Exchange of Information as the New Global Standard: The End of (Offshore Tax Evasion) History?

Automatic Exchange of Information and Prospects of Turkish-German Cooperation, Istanbul (ed. Leyla ATEŞ & Joachim ENGLISCH) (Forthcoming)

Presented at the 2nd Turkish-German Biennial on International Tax Law in Istanbul Conference, 3 March 2016

33 Pages Posted: 2 Mar 2017

Date Written: February 27, 2017

Abstract

Automatic exchange of information (AEoI) for tax purposes has become the global standard for international tax cooperation in 2013. As a tool for containing offshore tax evasion, it has encountered opposition in the past and continues to be fraught with challenges. This paper recapitulates the rationale for AEoI, including estimates on the magnitudes of assets held offshore, with a specific focus on Turkish assets held in Germany (chapter 1). Subsequently, chapter 2 summarises the recent history and describes the processes and milestones until breakthrough for global AEoI in 2013. Chapter 3 then discusses three current challenges, including the de facto exclusion of developing countries; how to incentivise recalcitrant jurisdictions to participate, such as the USA; and issues around the implementation of the CRS, including OECD’s Global Forum of Transparency and Exchange of Information, the peer reviews and public statistics. Chapter 4 concludes.

Keywords: Offshore Finance, International Cooperation, Money Laundering, Economic Development, Developing Countries, Tax Havens, Secrecy Jurisdictions

JEL Classification: F38, H26, K34, O19, O23, F63, F53, F55, H77

Suggested Citation

Meinzer, Markus, Automatic Exchange of Information as the New Global Standard: The End of (Offshore Tax Evasion) History? (February 27, 2017). Automatic Exchange of Information and Prospects of Turkish-German Cooperation, Istanbul (ed. Leyla ATEŞ & Joachim ENGLISCH) (Forthcoming) ; Presented at the 2nd Turkish-German Biennial on International Tax Law in Istanbul Conference, 3 March 2016. Available at SSRN: https://ssrn.com/abstract=2924650 or http://dx.doi.org/10.2139/ssrn.2924650

Markus Meinzer (Contact Author)

Tax Justice Network ( email )

38, Stanley Avenue
Chesham, HP5 2JG
United Kingdom

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