thesis_automatic_exchange_of_information.pdf
(5.41 MB, PDF)
… 2016 Automatic Exchange of Information: A Caribbean Perspective Name: Johnathan F. Montesant Student ID: i6045260 Faculty: School of Business and Economics University: Maastricht University Study: Fiscal Economics Thesis Supervisors: Prof Dr (Hans) J.G.A. van Mierlo … and more efficient, it has also made it easier for taxpayers to avoid and evade taxes. In order to combat this, the OECD has proposed a Model, which allows for automatic exchange of information. The OECD Model is also heavily based on the U.S. Foreign Account Tax Compliance Act. The U.S. FATCA has had many implications for banks around the globe. One example of this is the banking sector in Switzerland, where FATCA has fundamentally shifted Switzerland’s policies on tax evasion and bank … tax fraud refers to tax avoidance of a significant amount when the taxpayer uses forged or fortified documents or adopts fraudulent conduct to deceive the tax administration. 4. The Impact of FATCA on Switzerland 29 led to co-operation on insider trading investigations, and made Switzerland pledge assistance by marking specific procedures for collecting and reporting information to the U.S. (Song, 2015). The 1951 tax treaty was continuously updated and got replaced in 1996. The new, and now …