scholarly journals Does Ecuador Comply with International Tax Information Exchange Standards Required to Apply the Multilateral Agreement on Mutual Administrative Assistance in Tax Matters?

2021 ◽  
Vol 4 (1) ◽  
pp. 57
Author(s):  
Gabriela Rivadeneira Chacón
Keyword(s):  
International Organizations ◽  
Tax Evasion ◽  
Information Exchange ◽  
Multilateral Agreement ◽  
Practical Information ◽  
International Tax ◽  
Almost All ◽  
International Conventions ◽  
Tax Information Exchange ◽  
Administrative Assistance

The exchange of tax information is essential to prevent fraud and tax evasion. Accordingly, states and international organizations have developed international conventions regarding the exchange of tax information. One example is the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Some States, including Ecuador, have signed and ratified this Convention. However, it is unclear whether Ecuador currently meets almost all Convention's requirements.In this article, I investigated the Ecuadorian regulations and showed that Ecuador complies with most of the Convention’s standards. However, Ecuador does not have a specific comprehensive law that regulates information exchange. Therefore, Ecuador should develop policies and norms that exclusively regulate tax information exchange to facilitate practical information exchanging with other tax authorities.

scholarly journals Tax Havens, Tax Evasion and Tax Information Exchange Agreements in the OECD

2017 ◽  
Vol 23 (3) ◽  
pp. 519-542 ◽  
Author(s):  
David M. Kemme ◽  
Bhavik Parikh ◽  
Tanja Steigner
Keyword(s):  
Tax Evasion ◽  
Information Exchange ◽  
Tax Havens ◽  
Tax Information Exchange

scholarly journals Responsibility for Committing Accounting Offenses in the Criminal Law with Finland and Russia as an Example

2017 ◽  
Vol 4 (3) ◽  
pp. 134-139
Author(s):  
V A Jilkin
Keyword(s):  
Financial Reporting ◽  
Criminal Law ◽  
Information Exchange ◽  
Competent Authority ◽  
Economic Security ◽  
Practical Implementation ◽  
Fraudulent Financial Reporting ◽  
Accounting Rules ◽  
International Tax ◽  
Tax Information Exchange

This article discusses the responsibility and punishment for violation of accounting rules in Finland and Russia. Multilateral Competent Authority Agreement, signed by 87 countries, will ensure consistent practical implementation of international tax information exchange on income and taxes paid. Modern audit has developed methods for detection of fraudulent financial reporting and provision of economic security.

NEW AND INNOVATIVE METHODS OF THE CONCEPT OF TAXATION OF SMALL BUSINESS

2018 ◽  
Author(s):  
Sergey Kaledin ◽  
Ekaterina Shestakova
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Information Exchange ◽  
Tax Policy ◽  
The State ◽  
Innovative Methods ◽  
International Tax ◽  
Tax Payments ◽  
Tax Information Exchange

At present, the concept of taxation has gone beyond the tax policy of the state and beyond the Tax Code, since there are non-tax payments. In addition, even small businesses may face the peculiarities of international tax information exchange, which will be automated from 2018, since 2017 the role of banks in the area of tax inspections has been strengthened, the concept of unreasonable tax benefit has been changed and the final beneficiary has been verified. Thus, the Russian concept of taxation of small business has recently undergone significant changes.

Global Banks on Trial

2020 ◽  
Author(s):  
Pierre-Hugues Verdier
Keyword(s):  
Tax Evasion ◽  
Information Exchange ◽  
Sovereign Debt ◽  
Criminal Cases ◽  
Financial Infrastructure ◽  
Compliance Officers ◽  
The 2008 Financial Crisis ◽  
Financial Indices ◽  
Fundamental Shift ◽  
Global Banks

In the years since the 2008 financial crisis, U.S. prosecutors have brought dozens of criminal cases against the world’s most powerful banks, charging them with manipulating financial indices, helping their customers evade taxes, evading sanctions, and laundering money. To settle these cases, global banks like UBS, Barclays, HSBC, and BNP Paribas paid tens of billions of dollars in fines. They also agreed to extensive internal reforms, hiring hundreds of compliance officers, spending billions on new systems, and installing independent corporate monitors. In effect, they agreed to become worldwide enforcers of U.S. law and policies. This book examines the U.S. enforcement campaign against global banks across four areas: benchmark manipulation, tax evasion, sanctions violations, and sovereign debt. It shows that U.S. prosecutors have unilaterally carved out a new role as global bank regulators, heralding a fundamental shift in how international finance is overseen. Their ability to do so stems from U.S. control over vital hubs of the international financial system, from which they can threaten global banks with exclusion. In some areas, these unilateral U.S. actions have ushered in important multilateral reforms, such as the rise of automatic tax information exchange and better-regulated financial indices. In other areas, such as financial sanctions, unilateralism has attracted protests from other states and attempts to bypass U.S.-based financial infrastructure, which could undermine the country’s power.

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