Towards Global Transparency
Following the financial crisis of 2008 and various scandals around the world there has been a global movement towards the international exchange of information and greater transparency. This book provides a comprehensive overview of the main developments, the structure and content of the various existing instruments and models (such as double taxation treaties, TIEA, the multinational convention from the OECD, the European Directives, FATCA and the Swiss Rubik model), and also the new standard toward automatic exchange of information. Xavier Oberson's analysis highlights their interactions and complexities. He concludes by discussing the position and the rights of taxpayers.
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Chapter 11: Towards automatic exchange of information
Chapter 11 shows the path towards automatic exchange of information. After an historical perspective, it then concentrates on the various existing models which, in a form or another, provide for the automatic exchange of information, such as the EU Directives, the FATCA rules, the OECD system, and, as an alternative, the Swiss Rubik approach. These various systems are compared and the impact of anti-money laundering (AML) legislations is also taken into account.
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