Fiscally Responsible Businesses as a Result of COVID-19 Pandemic Shock

The COVID-19 pandemic and COVID-19 crisis represent impressive motivating forces for advancement, change, evolution, and improvement at a global level. The study focuses on the OECD latest developments in international tax reform work on base erosion and profit shifting (BEPS) in the courageous attempt to promote novel global initiatives for responsible tax and to support ambitious global actions for responsible tax principles. The results show the need to establish fiscally responsible businesses as a result of COVID-19 pandemic shock, thus taking back control of countries' tax systems by putting an end to corporate tax evasion and tax havens. The findings address the importance of being in line with tax principles, encouraging responsible financial transactions and behaviors.

The Double Irish and Dutch Sandwich tax strategies: Could a general anti-avoidance rule counteract the problems caused by the utilisation of these structures?

<p>This paper analyses the Double Irish and Dutch Sandwich tax structures used by large multinational enterprises. These structures enable companies to shift significant profits to offshore tax havens through the use of wholly owned subsidiaries in Ireland and the Netherlands. Application of the New Zealand General Anti-Avoidance rule in s BG 1 of the Income Tax Act 2007 reveals that any attempt to counteract these structures would be highly fact dependent. The paper concludes that it would be possible to apply the rule, but that there would be practical difficulties in relation to enforceability of the Commissioner’s ruling. A similar result was reached when applying the United States General Anti-Avoidance rule. The attempted application of the General Anti-Avoidance rules reveals a fundamental flaw in the income tax system. That is, the inability of the current system to regulate and control intangible resources and technology based transactions.</p>

The Double Irish and Dutch Sandwich tax strategies: Could a general anti-avoidance rule counteract the problems caused by the utilisation of these structures?

<p>This paper analyses the Double Irish and Dutch Sandwich tax structures used by large multinational enterprises. These structures enable companies to shift significant profits to offshore tax havens through the use of wholly owned subsidiaries in Ireland and the Netherlands. Application of the New Zealand General Anti-Avoidance rule in s BG 1 of the Income Tax Act 2007 reveals that any attempt to counteract these structures would be highly fact dependent. The paper concludes that it would be possible to apply the rule, but that there would be practical difficulties in relation to enforceability of the Commissioner’s ruling. A similar result was reached when applying the United States General Anti-Avoidance rule. The attempted application of the General Anti-Avoidance rules reveals a fundamental flaw in the income tax system. That is, the inability of the current system to regulate and control intangible resources and technology based transactions.</p>

Logic of Appropriateness or Logic of Consequence? Competing Explanations for the OECD Campaign against Tax Havens

<p>This thesis provides an alternative explanation to existing constructivist accounts of the OECD campaign against tax havens. It reinterprets the OECD project through a neoliberal institutionalist lens and offers a different take on each major historical development. It brings the narrative up to date, describing the events of the past two years and explaining the underlying causes in a manner consistent with the neoliberal reinterpretation. It finishes by considering what this account might predict for the future of tax information exchange. The thesis finds that transformative change happens in accordance with state interests rather than with identities and norms. International institutions fundamentally exist to advance the interests of their memberstates and will adapt their goals to reflect changing collective interests. States that are coerced to change their behaviour can be expected to comply only to the extent required to avoid sanctions.</p>

Logic of Appropriateness or Logic of Consequence? Competing Explanations for the OECD Campaign against Tax Havens

<p>This thesis provides an alternative explanation to existing constructivist accounts of the OECD campaign against tax havens. It reinterprets the OECD project through a neoliberal institutionalist lens and offers a different take on each major historical development. It brings the narrative up to date, describing the events of the past two years and explaining the underlying causes in a manner consistent with the neoliberal reinterpretation. It finishes by considering what this account might predict for the future of tax information exchange. The thesis finds that transformative change happens in accordance with state interests rather than with identities and norms. International institutions fundamentally exist to advance the interests of their memberstates and will adapt their goals to reflect changing collective interests. States that are coerced to change their behaviour can be expected to comply only to the extent required to avoid sanctions.</p>

"The Phenomenon of Trade-Based Money Laundering in Bangladesh" - A Critical Review

Bangladesh is one of the victims of financial crime like money laundering. Bangladesh's gross domestic product (GDP) has risen to 329.12 billion dollars in recent years and is steadily expanding. According to BASEL AML Index data (2020), Bangladesh's current AML score is 5.88. It stands in 38 rankings among 141 countries where Afghanistan ranks in the number one position, scoring 8.16, and Estonia ranks in 141 places with a score of 2.36. To fight financial crime like money laundering, The Central Bank of Bangladesh has taken necessary steps to be in line with FATF Status. In this connection, Trade-Based Money Laundering is a type of money laundering that shall closely monitor. Under-invoicing and over-invoicing are regularly practiced by the importers and exporters while declaring false prices of the goods. The remaining capital flies through "Hundi" and other media like Bitcoin or cryptocurrency platforms and uses offshore tax havens to hide the money. Though ML / TBML is a common problem over the entire world, in comparison to others, Bangladesh's progress is not significant, and not enough academic research is being published, which creates a considerable gap between the Government agencies and academia. This study attempts to break the ice between government agencies and academia. Still, more in-depth research shall be needed to combat Money Laundering (ML) or Trade-Based Money Laundering (TBML).