Countries worldwide have lost billions of dollars in tax revenue due to tax evasion on income from offshore bank accounts. This has become an increasing challenge in a rising digital economy, necessitating advanced measures to combat offshore tax evasion. Hence, this paper aims to provide an overview and critical analysis of the approaches taken by the United States, the United Kingdom, and Malaysia to curb offshore tax evasion strategies used by multinational corporations and individual taxpayers. This paper employs library-based doctrinal study and comparative legal analysis in a descriptive, analytic provision, and prescriptive manner.
Keywords: Offshore Tax Evasion, Tax Loopholes, Law Reform
eISSN: 2398-4287© 2021. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians/Africans/Arabians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.
DOI: https://doi.org/10.21834/ebpj.v6i18.3019