Exchange of information and bank deposits in international financial centres:
This paper assesses the impact of exchange of information on foreign-owned bank deposits in international financial centres (IFCs). Based on a dataset with extended jurisdiction coverage and sample length, foreign-owned IFC deposits declined globally by 24% or USD 410 billion during the period from...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2019
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| Schriftenreihe: | OECD Taxation Working Papers
no.46 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper assesses the impact of exchange of information on foreign-owned bank deposits in international financial centres (IFCs). Based on a dataset with extended jurisdiction coverage and sample length, foreign-owned IFC deposits declined globally by 24% or USD 410 billion during the period from 2008 to 2019. The commencement of automatic exchange of information is associated on average with a statistically significant 22% reduction in IFC bank deposits held by non-IFC counterparty jurisdictions. The results show that exchange of information on request was associated with a reduction of around 10% during the early years of implementation. Robustness checks show that voluntary disclosure programmes do not drive the results. These findings highlight the effectiveness of the expansion of automatic exchange of informationand provide further evidence of the success of a comprehensive multilateral approach towards international tax transparency. |
| Beschreibung: | 1 Online-Ressource (50 p.) |
| DOI: | 10.1787/025bfebe-en |
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| 520 | |a This paper assesses the impact of exchange of information on foreign-owned bank deposits in international financial centres (IFCs). Based on a dataset with extended jurisdiction coverage and sample length, foreign-owned IFC deposits declined globally by 24% or USD 410 billion during the period from 2008 to 2019. The commencement of automatic exchange of information is associated on average with a statistically significant 22% reduction in IFC bank deposits held by non-IFC counterparty jurisdictions. The results show that exchange of information on request was associated with a reduction of around 10% during the early years of implementation. Robustness checks show that voluntary disclosure programmes do not drive the results. These findings highlight the effectiveness of the expansion of automatic exchange of informationand provide further evidence of the success of a comprehensive multilateral approach towards international tax transparency. | ||
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| spelling | O'Reilly, Pierce VerfasserIn aut Exchange of information and bank deposits in international financial centres Pierce, O'Reilly, Kevin, Parra Ramirez and Michael A., Stemmer Paris OECD Publishing 2019 1 Online-Ressource (50 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Taxation Working Papers no.46 This paper assesses the impact of exchange of information on foreign-owned bank deposits in international financial centres (IFCs). Based on a dataset with extended jurisdiction coverage and sample length, foreign-owned IFC deposits declined globally by 24% or USD 410 billion during the period from 2008 to 2019. The commencement of automatic exchange of information is associated on average with a statistically significant 22% reduction in IFC bank deposits held by non-IFC counterparty jurisdictions. The results show that exchange of information on request was associated with a reduction of around 10% during the early years of implementation. Robustness checks show that voluntary disclosure programmes do not drive the results. These findings highlight the effectiveness of the expansion of automatic exchange of informationand provide further evidence of the success of a comprehensive multilateral approach towards international tax transparency. Taxation Parra Ramirez, Kevin MitwirkendeR ctb Stemmer, Michael A... MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/025bfebe-en Volltext |
| spellingShingle | O'Reilly, Pierce Exchange of information and bank deposits in international financial centres Taxation |
| title | Exchange of information and bank deposits in international financial centres |
| title_auth | Exchange of information and bank deposits in international financial centres |
| title_exact_search | Exchange of information and bank deposits in international financial centres |
| title_full | Exchange of information and bank deposits in international financial centres Pierce, O'Reilly, Kevin, Parra Ramirez and Michael A., Stemmer |
| title_fullStr | Exchange of information and bank deposits in international financial centres Pierce, O'Reilly, Kevin, Parra Ramirez and Michael A., Stemmer |
| title_full_unstemmed | Exchange of information and bank deposits in international financial centres Pierce, O'Reilly, Kevin, Parra Ramirez and Michael A., Stemmer |
| title_short | Exchange of information and bank deposits in international financial centres |
| title_sort | exchange of information and bank deposits in international financial centres |
| topic | Taxation |
| topic_facet | Taxation |
| url | https://doi.org/10.1787/025bfebe-en |
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