lotnictwo: Tax haven

Evidence: 47 • authority: 72

The Panama Papers (Spanish: Papeles de Panamá) are 11.5 million leaked documents (2.6 terabytes of data) published from April 3, 2016. The papers detail financial and attorney–client information for more than 214,488 offshore entities. These documents, some dating back to the 1970s, were created by, and taken from, the former Panamanian offshore law firm and corporate service provider Mossack Fonseca, and compiled with similar leaks into a searchable database. The documents contain personal financial information about wealthy individuals and public officials previously private. Their publication made it possible to prosecute Jan Marsalek, a person of interest to a number of European governm…

Evidence: 42 • authority: 88

THE USE OF CONCENTRATION INDICES BY NATIONAL BUSINESS ENTITIES TO IDENTIFY ULTIMATE BENEFICIAL OWNERS. Introduction. The economic security of the state cannot be ensured without a financial monitoring system, an important element of which is the identification of the ultimate beneficial owners. Purpose. The article proposes primary financial monitoring entities use concentration indices when identifying actual owners. Methods. The following methods were used: analysis and synthesis, grouping, comparison, generalization. Results. When determining the ultimate beneficial owner, financial monitoring institutions can rely on data found in the ownership structure. The algorithms of concentration…

Evidence: 42 • authority: 92

When Data Comes Home: Next Steps in International Taxation's Information Revolution. Over the last decade, there has been a revolution in cross-border tax information exchange and reporting. While this dramatic shift was the product of multiple forces and events, a fundamental reality is that politics, technology, and law intersected to drive the shift to the point where nation-states will now transmit and receive from each other significant ongoing flows of taxpayer information. States can now expect to accumulate large stashes of data on cross-border income, assets, and activities on a scale and level of comprehensiveness unmatched by previous information exchange regimes. This article ex…

Evidence: 42 • authority: 72

A tax haven is a term, often used pejoratively, to describe a place with very low tax rates for non-domiciled investors, even if the official rates may be higher. In some older definitions, a tax haven also offers financial secrecy. However, while countries with high levels of secrecy but also high rates of taxation, most notably the United States and Germany in the Financial Secrecy Index (FSI) rankings, can be featured in some tax haven lists, they are often omitted from lists for political reasons or through lack of subject matter knowledge. In contrast, countries with lower levels of secrecy but also low "effective" rates of taxation, most notably Ireland in the FSI rankings, appear in…

Evidence: 37 • authority: 80

The Walker Review of Corporate Governance in UK Banks and other Financial Industry Entities

Evidence: 37 • authority: 80

The Walker Review of Corporate Governance in UK Banks and other Financial Industry Entities

Evidence: 32 • authority: 80

Figure 1.18. Current account balances of Emerging Asian countries

Evidence: — • authority: 88

The Evolution of a Corporate Tax Haven. The central question of my dissertation is under which conditions a tax haven emerges, persists, and disappears again. To assess this, I have examined Dutch corporate tax policy and, to a lesser extent, Danish corporate tax policy. Empirically, I conclude that a tax haven emerges when four sequential conditions are met. A country must i) have the right structural determinants, ii) be presented with an opportunity to become a tax haven, iii) respond quickly to this opportunity by leveraging favourable institutional legacies, and iv) have policymakers who recognise and exploit both the institutional advantages and the open window of opportunity. In prop…

Evidence: — • authority: 80

Chapter 3b: Corporate Tax Residence and Mobility in the European Union

Evidence: — • authority: 80

Chapter 8: Corporate Tax Residence in the Czech Republic

Evidence: — • authority: 88

Firm Valuation Effects of the Expatriation of U.S. Corporations to Tax Haven Countries. As a direct response to the recent trend in corporate expatriations, politicians have questioned the patriotism of firms that reorganize outside the U.S. and introduced numerous legislative proposals designed to prevent corporate expatriations. The implicit assumption made in proposing this legislation is that the expatriation trend is just beginning and that many more firms will follow suit to reduce their U.S. tax burdens. In this study, we investigate whether the share prices of expatriating firms react positively to initial announcements of intentions to expatriate to tax haven countries. Overall, we…

Evidence: — • authority: 72

A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate economic activity through measures designed to mitigate negative externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. In economic terms (circular flow of income), taxation transfers wealth from households or businesses to the government. This affects economic growth and welfare, which can be increased (known as fiscal multiplier…