Tax Information Exchange and Offshore Entities: Evidence from the Panama Papers
Tax Information Exchange and Offshore Entities: Evidence from the Panama Papers
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税务信息交换和离岸实体：来自巴拿马文件的证据
DOI：
10.2139/ssrn.2836635
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发表时间：
2016
影响因子：
9.8
通讯作者：
James D. Omartian
中科院分区：
文献类型：
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作者：
James D. Omartian
我利用巴拿马文件中的新数据，测试了投资者对提高外国资产透明度的监管改革的反应。我发现，在该指令推出之前，受影响的投资者大约将离岸实体注册数量增加了一倍，以规避欧盟储蓄指令。然而，税务信息交换协议、外国账户税务合规法和信息交换通用报告标准导致离岸实体的使用量下降。我的研究罕见地直接观察了投资者采取行动增加不透明度的情况，并为有关利用信息交换作为打击离岸逃税工具的辩论提供了信息。
Using new data from the Panama Papers, I test for an investor response to regulatory reforms that improve foreign asset transparency. I find that immediately prior to its roll-out, affected investors roughly double offshore entity incorporations to circumvent the EU Savings Directive. However, Tax Information Exchange Agreements, the Foreign Account Tax Compliance Act, and the Common Reporting Standard for information exchange result in declines in offshore entity usage. My study provides a rare direct look at investors taking action to increase opacity and informs debate on the use of information exchange as a tool to combat offshore tax evasion.