Law Commons^™

International Finance And State Sovereignty: Global Governance In The International Tax Regime, Insop Pak

Annual Survey of International & Comparative Law

This paper begins with a description of globalization and analyzes its nature and effects on the financial environment. Implications of globalization for state sovereignty are also addressed. In particular, global challenges to national fiscal sovereignty are discussed. In this context, this writing clarifies the concept of tax jurisdiction and reviews problems with the national tax systems such as double taxation, and taxpayers' cross-border arbitrage which results from the increased mobility of capital associated with financial globalization. Furthermore, an emphasis has been given to discuss the pros and cons of tax competition and harmonization. More importantly, this article attempts to search …