GLOBAL DEOFFSHORIZATION: BASIC APPROACHES AND OBSTACLES TO THEIR IMPLEMENTATION
The rapid growth of offshore economy in the recent decade is a sign of insufficiency of international measures aimed at fighting capital drain to offshore jurisdictions. It is quite necessary to find relevant contemporary approach to deoffshorization of the global economy. The article provides an overview of the projects of global deoffshorization that are currently implemented (automatic tax information exchange, the global register of legal entities, OECD country-bycountry reporting requirements), as well as the prospective projects (the global financial register, a unitary approach to TNC taxation). Positive and negative sides of each project together with their implementation prospects are estimated.
Authors: I. V. Tsvigun, D. S. Kostyuchenko, M. V. Chigir
Direction: Economics and National Economy Management
Keywords: Deoffshorization, offshore economy, the Common Reporting Standard, the Automatic Exchange of Information, the Foreign Account Tax Compliance Act, global register of legal entities, global financial register, unitary taxation
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