The Role of the U.S. As a Tax Haven – Implications for Europe

23 Pages Posted: 1 Apr 2017

Date Written: May 11, 2016

Abstract

Two global transparency initiatives are underway that could help tackle financial crimes including tax evasion, money laundering and corruption: registration of beneficial ownership for companies (to identify the real persons owning or controlling such companies) and automatic exchange of bank account information between tax administrations. The European Union has made progress in both respects, with the adoption of a 4th anti-money laundering Directive (in May 2015) and by committing to implement the OECD’s common reporting standard for automatic exchange of financial account information. The United States (U.S.), in contrast, has done neither so far.

Keywords: tax haven, beneficial ownership, FATCA, CRS, automatic exchange of information

Suggested Citation

Knobel, Andres, The Role of the U.S. As a Tax Haven – Implications for Europe (May 11, 2016). Available at SSRN: https://ssrn.com/abstract=2943976 or http://dx.doi.org/10.2139/ssrn.2943976

Andres Knobel (Contact Author)

Tax Justice Network ( email )

Argentina

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