| Popis: |
In 2015 the unprecedented leak of 11,5 million files from Mossack Fonseka, one of the world’s biggest offshore law firms, echoed around the globe after demonstrating variety of sophisticated ways in which the wealthy can use offshore tax jurisdictions. It brought public concern about tax evasion to an exceptional level and put pressure on governments to make world financial system even more transparent. The Panama Gate became a strong trigger to start the last phase of new international tax control system formation. Six years before, in 2009, a meeting was held by The Organization for Economic Co-operation and Development (OECD) in Mexico City. Although the official agenda pointed at transparency and global economic growth as targets, some commentators described the goal of this gathering as “creating a global high-tax cartel”. The practical output of this meeting was establishment of the new global “tax standard” based on a wide information exchange between the tax authorities. The OECD negotiators persuaded eighty-seven states to join the standard. Since 2010, with the enactment of the Foreign Account Compliance Act, known as FATCA, by the United States, the free flow of money, which seemed to be an essential attribute of open market, doesn’t look that free any more. FATCA now requires non-US financial organizations – foreign financial institutions - to implement advanced compliance system and report directly to the US Internal Revenue Service (IRS). Due to the size of the US economy and globalized world economy the number of those affected directly or indirectly is overwhelming. The article is analyzing changes in international tax planning as a business process and a type of consulting service through research of regulatory changes and law enforcement practices worldwide. Particular focus will be made on several jurisdictions that used to provide or still offer now beneficial tax regimes. |
