[ap-intact] PAPER AVAILABLE: Exchanging Information to Combat Tax Evasion (Asian Dev’t Bank)

Tax evasion is a global concern that reduces government revenue and undermines trust in the tax system. International cooperation among national tax authorities, through the exchange of information (EOI) on taxpayer-related information including cross-border transactions and taxpayers’ foreign assets, is an important tool for combatting the problem. Many Asian countries are upgrading their capacity to handle EOI by meeting the international standards set by the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Key points:

• Globalization has increased cross-border transactions and created opportunities for tax evasion.
• Exchange of information (EOI) is paramount to countering tax evasion.
• Asian countries need to upgrade the capacity of the tax authority and strengthen cooperation arrangements.
• The Global Forum provides international standards for EOI between tax authorities.
• The peer review process and automatic EOI will greatly enhance efforts to combat tax evasion.

Download the paper by Paul Vandenberg and Alan Myrold, in the Asian Development Bank website. http://www.adb.org/publications/exchanging-information-combat-tax-evasion?utm_source=daily&utm_medium=email&utm_campaign=alerts