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Closing The International Tax Gap Via Cooperations, Not Competition, Reuven S. Avi-Yonah
Closing The International Tax Gap Via Cooperations, Not Competition, Reuven S. Avi-Yonah
Book Chapters
All three major goals of the Volcker task force — reducing tax evasion and loopholes, simplifying the code, and reducing corporate welfare — can be advanced by focusing on the international aspects of the tax gap. These aspects include both enforcement of existing U.S. law on U.S. residents earning income overseas (the evasion issue) and reforming deferral for U.S.-based multinational enterprises (the avoidance issue). To best advance the task force’s three goals, I would propose a change in each of these two major international areas.
Closing The International Tax Gap, Joseph Guttentag, Reuven S. Avi-Yonah
Closing The International Tax Gap, Joseph Guttentag, Reuven S. Avi-Yonah
Book Chapters
In July of 1999, the Justice Department entered into a plea bargain with one John M. Mathewson of San Antonio, Texas. Mr. Mathewson was accused of money laundering through the Guardian Bank and Trust Co. Ltd., a Cayman Islands bank. Mr. Mathewson was chairman and controlling shareholder of Guardian, and in that capacity had access to information on its depositors. In return for a reduced sentence, Mr. Mathewson turned over the names of the persons who had accounts at Guardian. The result was an eye-opener: The majority of the accounts were beneficially owned by U.S. citizens, and the reason they …