International Tax Co-Operation via Exchange of Information – The Transatlantic Point of View

Slovenská ekonomika mýty a fakty o realite 2007, Ekonomika firiem 2007, Zborník z medzinárodnej vedeckej konferencie, (Slovak Economy - Myths and Facts about Reality 2007, Economic of firms 2007, Conference proceedings), ISBN 978-80-225-2482-7

11 Pages Posted: 23 Oct 2012

See all articles by Jana Kubicova

Jana Kubicova

University of Economics in Bratislava

Date Written: 2007

Abstract

There are two main ways of international tax cooperation: unification of tax provisions and exchange of information for tax purposes. Even if the last one is hardly acceptable, still it seems to be more tolerable than the former one. Exchange of information can help combating international tax avoidance and competition. This paper focuses on the exchange of information for interest incomes tax purposes; in particular it focuses on the comparison of the OECD, the EU and the USA positions in this matter. The first part reviews internationally adopted measures on exchange of information, mainly those adopted by the OECD and the European Commission. Here the main principles and advantages of the EU Savings Directive are analysed. In the second part we move to the description of the US rules used in taxation of non-business interest incomes of non-residents. Attention is paid to two issues: position of the USA to exchange of information for tax purposes and US measures to tax interest incomes. Finally, in the third part, we draw several reasons that possibly lie behind the US position.

Keywords: interest, savings, exchange of information, banking secrecy, European Union, USA, non-cooperation

JEL Classification: H29, K34, L51, Z00

Suggested Citation

Kubicova, Jana, International Tax Co-Operation via Exchange of Information – The Transatlantic Point of View (2007). Slovenská ekonomika mýty a fakty o realite 2007, Ekonomika firiem 2007, Zborník z medzinárodnej vedeckej konferencie, (Slovak Economy - Myths and Facts about Reality 2007, Economic of firms 2007, Conference proceedings), ISBN 978-80-225-2482-7, Available at SSRN: https://ssrn.com/abstract=2165924

Jana Kubicova (Contact Author)

University of Economics in Bratislava ( email )

Dolnozemská cesta 1
Bratislava, 852 35
Slovakia

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