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Taxation of Foreign-Source Income of Resident Individuals : A Structural Enforcement Through Automatic Exchange of Tax Information.

By: Material type: TextTextSeries: IBFD Doctoral SeriesPublisher: Amsterdam : IBFD Publications USA, Incorporated, 2019Copyright date: ©2019Edition: 1st edDescription: 1 online resource (365 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9789087225766
Subject(s): Genre/Form: Additional physical formats: Print version:: Taxation of Foreign-Source Income of Resident IndividualsDDC classification:
  • 371.26
LOC classification:
  • K4466 .U756 2019
Online resources:
Contents:
Cover -- IBFD Doctoral Series -- Title -- Copyright -- Acknowledgement -- Preface -- Abbreviations -- Chapter 1: Concept and Sources of Tax Information -- 1.1. Income tax systems and the concept of tax information -- 1.1.1. Income tax systems in the world -- 1.1.1.1. Citizenship as a benchmark for income taxation -- 1.1.1.2. Source of income as a benchmark for income taxation -- 1.1.1.3. Residence as a benchmark for income taxation -- 1.1.1.4. Income tax systems and international double taxation -- 1.1.1.5. Predominance of the residence-based income tax system -- 1.1.2. Concept and types of tax information -- 1.1.2.1. Information on the taxpayer's identity -- 1.1.2.2. Information on the taxpayer's residence -- 1.1.2.3. Information on income, ownership and beneficial ownership -- 1.1.2.4. Information on transfer prices -- 1.1.2.5. Information on the taxpayer's foreign tax status -- 1.2. Sources of tax information -- 1.2.1. Sources of tax information on domestic income -- 1.2.1.1. Self-assessment reports or tax returns -- 1.2.1.2. Third-party tax reporting and tax withholding -- 1.2.1.2.1. Third-party reporting -- 1.2.1.2.2. Third-party tax withholding -- 1.2.2. Sources of tax information on foreign income -- 1.2.2.1. Self-assessment reports -- 1.2.2.2. Third-party tax reporting and withholding (or absence thereof) -- 1.2.2.3. Tax whistle-blower reporting -- 1.2.2.4. Voluntary disclosure or tax amnesty programmes -- 1.2.3. Theoretical support for structural tax enforcement for foreign income -- 1.2.3.1. Implications of the existing regime -- 1.2.3.1.1. Revenue -- 1.2.3.1.2. Tax equity -- 1.2.3.1.3. Tax neutrality -- 1.2.3.2. Third-party tax reporting as a cornerstone of structural tax enforcement -- 1.2.4. Concluding remarks -- Chapter 2: Exchange of Tax Information under Double Taxation Treaties and Tax Information Exchange Agreements.
2.1. Exchange of tax information under DTCs -- 2.1.1. Evolution of the tax information exchange frameworks under DTCs -- 2.1.1.1. The League of Nations' work on tax treaties and exchange of tax information -- 2.1.1.1.1. The League of Nations Model Bilateral Convention for the Establishment of Reciprocal Administrative Assistance for the Assessment and Collection of Taxes (1943 and 1946) -- 2.1.1.2. The OECD's work on tax treaties and exchange of tax information -- 2.1.1.2.1. The OECD Draft Double Taxation Convention on Income and Capital of 1963 -- 2.1.1.2.2. The OECD Model Double Taxation Convention on Income and Capital of 1977 -- 2.1.1.2.3. The UN Model Double Tax Convention of 1980 -- 2.1.1.2.4. The OECD Model Double Tax Convention of 2000 -- 2.1.1.2.5. The OECD Model Tax Convention of 2005 -- 2.1.1.2.6. The OECD Model Tax Convention of 2014 -- 2.1.2. Principles of tax information exchange under DTCs -- 2.1.2.1. Mandatory nature of information exchange -- 2.1.2.2. Foreseeable relevance of information -- 2.1.2.3. Reciprocity in information exchange -- 2.1.2.4. Subsidiarity of information requests -- 2.1.2.5. Confidentiality of exchanged information -- 2.1.3. Methods of tax information exchange under DTCs -- 2.1.3.1. Exchange of information on request -- 2.1.3.2. Automatic exchange of tax information -- 2.1.3.3. Spontaneous exchange of information -- 2.1.4. Refusing to provide information under DTCs -- 2.1.5. The time and cost considerations of information exchange under DTCs -- 2.1.5.1. Time of exchange of tax information -- 2.1.5.2. Cost of exchange of information -- 2.1.6. Concluding remarks -- 2.2. Evolution of the standards of exchange of tax information under TIEAs -- 2.2.1. Scope of exchange of tax information under TIEAs -- 2.2.1.1. Taxes covered -- 2.2.1.2. Persons covered -- 2.2.2. Principles of exchange of tax information under TIEAs.
2.2.3. Methods of exchange of tax information under TIEAs -- 2.2.4. Refusing to provide information under TIEAs -- 2.2.5. Time and cost of exchange of tax information under TIEAs -- 2.3. Implementation of the information exchange provisions under DTC and TIEAs -- 2.3.1. Global Forum on Transparency and Exchange of Information for Tax Purposes -- 2.3.2. Global Forum peer reviews on transparency and exchange of information -- 2.3.3. Concluding remarks -- 2.4. Beneficial ownership and exchange of information under DTCs and TIEAs -- 2.4.1. Beneficial ownership information under the FATF framework -- 2.4.2. Beneficial ownership and exchange of information under DTCs and TIEAs -- 2.4.3. Concluding remarks -- 2.5. Limitations of tax information exchange provisions under DTCs and TIEAs -- 2.5.1. Limitations of tax information exchange under DTCs -- 2.5.2. Limitations of tax information exchange under TIEAs -- 2.5.3. Concluding remarks -- Chapter 3: Automatic Exchange of Tax Information -- 3.1. Introduction -- 3.2. Concept, purpose and history of AEOI -- 3.2.1. Concept of AEOI -- 3.2.2. Purpose of AEOI -- 3.2.3. Historical development of AEOI standards -- 3.3. Evolution of AEOI regimes -- 3.3.1. Nordic Convention -- 3.3.1.1. Introduction -- 3.3.1.2. Historical background -- 3.3.1.3. Scope of the Nordic Convention -- 3.3.1.4. Principles of mutual assistance under the Nordic Convention -- 3.3.1.5. Methods of exchange of information under the Nordic Convention -- 3.3.1.5.1. Tax information upon request -- 3.3.1.5.2. Spontaneous exchange of tax information -- 3.3.1.5.3. Automatic exchange of tax information -- 3.3.1.6. Limitations to mutual assistance under the Nordic Convention -- 3.3.1.7. Cost and timing of the mutual assistance under the Nordic Convention -- 3.3.1.8. Concluding remarks -- 3.3.2. Multilateral Convention -- 3.3.2.1. Historical background.
3.3.2.2. Scope of the exchange of tax information under the Multilateral Convention -- 3.3.2.2.1. Taxes covered -- 3.3.2.2.2. Persons covered -- 3.3.2.2.3. Cases covered -- 3.3.2.3. Methods of exchange of tax information under the Multilateral Convention -- 3.3.2.3.1. Exchange of information upon request -- 3.3.2.3.2. AEOI -- 3.3.2.3.3. Spontaneous exchange of information -- 3.3.2.3.4. Simultaneous tax examinations -- 3.3.2.3.5. Tax examinations abroad -- 3.3.2.4. Principles of exchange of tax information under the Multilateral Convention -- 3.3.2.4.1. Reciprocity -- 3.3.2.4.2. Proportionality -- 3.3.2.4.3. Confidentiality -- 3.3.2.5. Limitations to the exchange of tax information under the Multilateral Convention -- 3.3.2.6. Cost and timing of mutual assistance under the Multilateral Convention -- 3.3.2.6.1. Cost -- 3.3.2.6.2. Timing -- 3.3.2.7. Issues with the Multilateral Convention -- 3.3.2.8. Concluding remarks -- 3.3.3. EU Savings Directive -- 3.3.3.1. Historical background -- 3.3.3.2. Scope and mechanics of information exchange under the Savings Directive -- 3.3.3.2.1. Reportable items covered -- 3.3.3.2.2. Reportable persons covered -- 3.3.3.2.3. Reporting persons -- 3.3.3.3. Issues with exchange of tax information under the Savings Directive -- 3.3.3.3.1. Beneficial ownership -- 3.3.3.3.2. Paying agent -- 3.3.3.3.3. Reportable income items -- 3.3.3.4. Proposed solutions -- 3.3.3.4.1. Beneficial ownership -- 3.3.3.4.2. Paying agent -- 3.3.3.4.3. Reportable income items -- 3.3.3.5. Concluding remarks -- 3.3.4. DAC -- 3.3.4.1. Historical background -- 3.3.4.2. The Directive 2011/16/EU as amended in 2014 -- 3.3.4.3. Scope of information exchange under the DAC -- 3.3.4.3.1. Taxes covered -- 3.3.4.3.2. Persons covered -- 3.3.4.3.3. Information covered -- 3.3.4.3.4. Most-favoured-nation clause.
3.3.4.4. Confidentiality and data safeguards under the DAC -- 3.3.4.5. Timing and cost of information exchange under the DAC -- 3.3.4.6. Implementation of the DAC -- 3.3.4.7. Concluding remarks -- 3.3.5. FATCA IGAs (2012) -- 3.3.5.1. Historical background -- 3.3.5.2. Substance of IGAs -- 3.3.5.3. Scope of tax information exchange under IGAs -- 3.3.5.4. Exemptions under IGAs -- 3.3.5.5. Timing of information exchange under IGAs -- 3.3.5.6. Legal basis for IGAs -- 3.3.5.7. Issues with IGAs -- 3.3.5.8. Concluding remarks -- 3.3.6. Concluding remarks -- 3.3.6.1. Geographical scope -- 3.3.6.2. Material scope -- Chapter 4: Global Standard on Automatic Exchange of Financial Account Information -- 4.1. Historical background -- 4.2. CRS (2014) -- 4.2.1. RFIs -- 4.2.2. Financial accounts -- 4.2.3. Reportable persons -- 4.2.4. Reportable accounts and due diligence procedures -- 4.2.4.1. Due diligence for pre-existing individual accounts -- 4.2.4.1.1. Definition of "pre-existing individual account" -- 4.2.4.1.2. Due diligence for pre-existing low-value individual accounts -- 4.2.4.1.3. Due diligence for pre-existing high-value individual accounts -- 4.2.4.2. Due diligence for new individual accounts -- 4.2.4.3. Due diligence for pre-existing entity accounts -- 4.2.4.3.1. Pre-existing reportable entity accounts -- 4.2.4.3.2. Pre-existing passive NFE accounts and controlling persons -- 4.2.4.4. Due diligence for new entity accounts -- 4.2.4.5. Other due diligence rules -- 4.2.5. Reportable information -- 4.2.6. Compliance with the CRS -- 4.3. Model CAA (2014) -- 4.3.1. Activation of exchange under the MCAA -- 4.3.2. Information to be exchanged under the Model CAA -- 4.3.3. Timing and enforcement of exchange under the Model CAA -- 4.3.4. Confidentiality and data safeguards under the Model CAA -- 4.3.5. Consultation, suspension or termination of the Model CAA.
4.4. Implementation of the global standard on AEOI.
Summary: This book explores some key issues around the enforcement of taxes on foreign-source income of resident individuals in the light of the emerging automatic exchange of information (AEOI) system.
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Cover -- IBFD Doctoral Series -- Title -- Copyright -- Acknowledgement -- Preface -- Abbreviations -- Chapter 1: Concept and Sources of Tax Information -- 1.1. Income tax systems and the concept of tax information -- 1.1.1. Income tax systems in the world -- 1.1.1.1. Citizenship as a benchmark for income taxation -- 1.1.1.2. Source of income as a benchmark for income taxation -- 1.1.1.3. Residence as a benchmark for income taxation -- 1.1.1.4. Income tax systems and international double taxation -- 1.1.1.5. Predominance of the residence-based income tax system -- 1.1.2. Concept and types of tax information -- 1.1.2.1. Information on the taxpayer's identity -- 1.1.2.2. Information on the taxpayer's residence -- 1.1.2.3. Information on income, ownership and beneficial ownership -- 1.1.2.4. Information on transfer prices -- 1.1.2.5. Information on the taxpayer's foreign tax status -- 1.2. Sources of tax information -- 1.2.1. Sources of tax information on domestic income -- 1.2.1.1. Self-assessment reports or tax returns -- 1.2.1.2. Third-party tax reporting and tax withholding -- 1.2.1.2.1. Third-party reporting -- 1.2.1.2.2. Third-party tax withholding -- 1.2.2. Sources of tax information on foreign income -- 1.2.2.1. Self-assessment reports -- 1.2.2.2. Third-party tax reporting and withholding (or absence thereof) -- 1.2.2.3. Tax whistle-blower reporting -- 1.2.2.4. Voluntary disclosure or tax amnesty programmes -- 1.2.3. Theoretical support for structural tax enforcement for foreign income -- 1.2.3.1. Implications of the existing regime -- 1.2.3.1.1. Revenue -- 1.2.3.1.2. Tax equity -- 1.2.3.1.3. Tax neutrality -- 1.2.3.2. Third-party tax reporting as a cornerstone of structural tax enforcement -- 1.2.4. Concluding remarks -- Chapter 2: Exchange of Tax Information under Double Taxation Treaties and Tax Information Exchange Agreements.

2.1. Exchange of tax information under DTCs -- 2.1.1. Evolution of the tax information exchange frameworks under DTCs -- 2.1.1.1. The League of Nations' work on tax treaties and exchange of tax information -- 2.1.1.1.1. The League of Nations Model Bilateral Convention for the Establishment of Reciprocal Administrative Assistance for the Assessment and Collection of Taxes (1943 and 1946) -- 2.1.1.2. The OECD's work on tax treaties and exchange of tax information -- 2.1.1.2.1. The OECD Draft Double Taxation Convention on Income and Capital of 1963 -- 2.1.1.2.2. The OECD Model Double Taxation Convention on Income and Capital of 1977 -- 2.1.1.2.3. The UN Model Double Tax Convention of 1980 -- 2.1.1.2.4. The OECD Model Double Tax Convention of 2000 -- 2.1.1.2.5. The OECD Model Tax Convention of 2005 -- 2.1.1.2.6. The OECD Model Tax Convention of 2014 -- 2.1.2. Principles of tax information exchange under DTCs -- 2.1.2.1. Mandatory nature of information exchange -- 2.1.2.2. Foreseeable relevance of information -- 2.1.2.3. Reciprocity in information exchange -- 2.1.2.4. Subsidiarity of information requests -- 2.1.2.5. Confidentiality of exchanged information -- 2.1.3. Methods of tax information exchange under DTCs -- 2.1.3.1. Exchange of information on request -- 2.1.3.2. Automatic exchange of tax information -- 2.1.3.3. Spontaneous exchange of information -- 2.1.4. Refusing to provide information under DTCs -- 2.1.5. The time and cost considerations of information exchange under DTCs -- 2.1.5.1. Time of exchange of tax information -- 2.1.5.2. Cost of exchange of information -- 2.1.6. Concluding remarks -- 2.2. Evolution of the standards of exchange of tax information under TIEAs -- 2.2.1. Scope of exchange of tax information under TIEAs -- 2.2.1.1. Taxes covered -- 2.2.1.2. Persons covered -- 2.2.2. Principles of exchange of tax information under TIEAs.

2.2.3. Methods of exchange of tax information under TIEAs -- 2.2.4. Refusing to provide information under TIEAs -- 2.2.5. Time and cost of exchange of tax information under TIEAs -- 2.3. Implementation of the information exchange provisions under DTC and TIEAs -- 2.3.1. Global Forum on Transparency and Exchange of Information for Tax Purposes -- 2.3.2. Global Forum peer reviews on transparency and exchange of information -- 2.3.3. Concluding remarks -- 2.4. Beneficial ownership and exchange of information under DTCs and TIEAs -- 2.4.1. Beneficial ownership information under the FATF framework -- 2.4.2. Beneficial ownership and exchange of information under DTCs and TIEAs -- 2.4.3. Concluding remarks -- 2.5. Limitations of tax information exchange provisions under DTCs and TIEAs -- 2.5.1. Limitations of tax information exchange under DTCs -- 2.5.2. Limitations of tax information exchange under TIEAs -- 2.5.3. Concluding remarks -- Chapter 3: Automatic Exchange of Tax Information -- 3.1. Introduction -- 3.2. Concept, purpose and history of AEOI -- 3.2.1. Concept of AEOI -- 3.2.2. Purpose of AEOI -- 3.2.3. Historical development of AEOI standards -- 3.3. Evolution of AEOI regimes -- 3.3.1. Nordic Convention -- 3.3.1.1. Introduction -- 3.3.1.2. Historical background -- 3.3.1.3. Scope of the Nordic Convention -- 3.3.1.4. Principles of mutual assistance under the Nordic Convention -- 3.3.1.5. Methods of exchange of information under the Nordic Convention -- 3.3.1.5.1. Tax information upon request -- 3.3.1.5.2. Spontaneous exchange of tax information -- 3.3.1.5.3. Automatic exchange of tax information -- 3.3.1.6. Limitations to mutual assistance under the Nordic Convention -- 3.3.1.7. Cost and timing of the mutual assistance under the Nordic Convention -- 3.3.1.8. Concluding remarks -- 3.3.2. Multilateral Convention -- 3.3.2.1. Historical background.

3.3.2.2. Scope of the exchange of tax information under the Multilateral Convention -- 3.3.2.2.1. Taxes covered -- 3.3.2.2.2. Persons covered -- 3.3.2.2.3. Cases covered -- 3.3.2.3. Methods of exchange of tax information under the Multilateral Convention -- 3.3.2.3.1. Exchange of information upon request -- 3.3.2.3.2. AEOI -- 3.3.2.3.3. Spontaneous exchange of information -- 3.3.2.3.4. Simultaneous tax examinations -- 3.3.2.3.5. Tax examinations abroad -- 3.3.2.4. Principles of exchange of tax information under the Multilateral Convention -- 3.3.2.4.1. Reciprocity -- 3.3.2.4.2. Proportionality -- 3.3.2.4.3. Confidentiality -- 3.3.2.5. Limitations to the exchange of tax information under the Multilateral Convention -- 3.3.2.6. Cost and timing of mutual assistance under the Multilateral Convention -- 3.3.2.6.1. Cost -- 3.3.2.6.2. Timing -- 3.3.2.7. Issues with the Multilateral Convention -- 3.3.2.8. Concluding remarks -- 3.3.3. EU Savings Directive -- 3.3.3.1. Historical background -- 3.3.3.2. Scope and mechanics of information exchange under the Savings Directive -- 3.3.3.2.1. Reportable items covered -- 3.3.3.2.2. Reportable persons covered -- 3.3.3.2.3. Reporting persons -- 3.3.3.3. Issues with exchange of tax information under the Savings Directive -- 3.3.3.3.1. Beneficial ownership -- 3.3.3.3.2. Paying agent -- 3.3.3.3.3. Reportable income items -- 3.3.3.4. Proposed solutions -- 3.3.3.4.1. Beneficial ownership -- 3.3.3.4.2. Paying agent -- 3.3.3.4.3. Reportable income items -- 3.3.3.5. Concluding remarks -- 3.3.4. DAC -- 3.3.4.1. Historical background -- 3.3.4.2. The Directive 2011/16/EU as amended in 2014 -- 3.3.4.3. Scope of information exchange under the DAC -- 3.3.4.3.1. Taxes covered -- 3.3.4.3.2. Persons covered -- 3.3.4.3.3. Information covered -- 3.3.4.3.4. Most-favoured-nation clause.

3.3.4.4. Confidentiality and data safeguards under the DAC -- 3.3.4.5. Timing and cost of information exchange under the DAC -- 3.3.4.6. Implementation of the DAC -- 3.3.4.7. Concluding remarks -- 3.3.5. FATCA IGAs (2012) -- 3.3.5.1. Historical background -- 3.3.5.2. Substance of IGAs -- 3.3.5.3. Scope of tax information exchange under IGAs -- 3.3.5.4. Exemptions under IGAs -- 3.3.5.5. Timing of information exchange under IGAs -- 3.3.5.6. Legal basis for IGAs -- 3.3.5.7. Issues with IGAs -- 3.3.5.8. Concluding remarks -- 3.3.6. Concluding remarks -- 3.3.6.1. Geographical scope -- 3.3.6.2. Material scope -- Chapter 4: Global Standard on Automatic Exchange of Financial Account Information -- 4.1. Historical background -- 4.2. CRS (2014) -- 4.2.1. RFIs -- 4.2.2. Financial accounts -- 4.2.3. Reportable persons -- 4.2.4. Reportable accounts and due diligence procedures -- 4.2.4.1. Due diligence for pre-existing individual accounts -- 4.2.4.1.1. Definition of "pre-existing individual account" -- 4.2.4.1.2. Due diligence for pre-existing low-value individual accounts -- 4.2.4.1.3. Due diligence for pre-existing high-value individual accounts -- 4.2.4.2. Due diligence for new individual accounts -- 4.2.4.3. Due diligence for pre-existing entity accounts -- 4.2.4.3.1. Pre-existing reportable entity accounts -- 4.2.4.3.2. Pre-existing passive NFE accounts and controlling persons -- 4.2.4.4. Due diligence for new entity accounts -- 4.2.4.5. Other due diligence rules -- 4.2.5. Reportable information -- 4.2.6. Compliance with the CRS -- 4.3. Model CAA (2014) -- 4.3.1. Activation of exchange under the MCAA -- 4.3.2. Information to be exchanged under the Model CAA -- 4.3.3. Timing and enforcement of exchange under the Model CAA -- 4.3.4. Confidentiality and data safeguards under the Model CAA -- 4.3.5. Consultation, suspension or termination of the Model CAA.

4.4. Implementation of the global standard on AEOI.

This book explores some key issues around the enforcement of taxes on foreign-source income of resident individuals in the light of the emerging automatic exchange of information (AEOI) system.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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