Voluntary disclosure schemes for offshore tax evasion

Document type
Working Paper
Author(s)
Rablen, Matthew D; Gould, Matthew
Publisher
Institute for Fiscal Studies
Date of publication
5 March 2018
Series
IFS Working Paper; WP18/07
Subject(s)
Social Policy, Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

Download (1MB )

IFS paper on offshore tax evasion.

Tax authorities worldwide are implementing voluntary disclosure schemes to recover tax on offshore investments. Such schemes are typically designed retrospectively following the bulk acquisition of information on offshore holdings, such as the recent Paradise and Panama papers. They offer an opportunity for affected taxpayers to make a voluntary disclosure, with reduced fine rates for truthful disclosure.

More from Social welfare collection

Related to Social Policy

With which countries do tax havens share information?

In recent years tax havens and offshore financial centres have come under increasing political pressure to cooperate with other countries in matters of taxation and efforts to crowd back tax evasion

Income taxation and business incorporation: evidence from the early twentieth century

If the corporate income tax is set at a different rate from non-corporate income tax, it can play an important role in a firm's choice of organizational form. The impact and interdependency of income

Can more revenue be raised by increasing income tax rates for the very rich?

This briefing note explores how much scope there is to raise revenue from the very rich by increasing income tax rates and assesses in detail the amount of revenue that is likely to be raised by the

State income tax reciprocity agreements and small businesses

Purpose - Small businesses play a vital role in job creation and economic growth, and previous studies have noted that higher state tax rates may reduce entrepreneurial activity, growth, and hiring.

More items related to this subject