Country-by-country reporting and other financial transparency measures affecting the European union
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F21%3A10430212" target="_blank" >RIV/00216208:11230/21:10430212 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1093/oso/9780198854722.003.0008" target="_blank" >https://doi.org/10.1093/oso/9780198854722.003.0008</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1093/oso/9780198854722.003.0008" target="_blank" >10.1093/oso/9780198854722.003.0008</a>
Alternative languages
Result language
angličtina
Original language name
Country-by-country reporting and other financial transparency measures affecting the European union
Original language description
The EU faces large amounts of financial secrecy supplied to it by secrecy jurisdictions. In this chapter, we use the Bilateral Financial Secrecy Index to quantify which jurisdictions supply most secrecy to EU Member States. The chapter assesses the progress of two recent EU policy efforts to tackle financial secrecy: automatic exchange of country-by-country reporting (CbCR) data and black and grey list of non-cooperative jurisdictions. It is found that 34 per cent of the financial secrecy faced by the EU is supplied by other Member States, whose a priori exclusion from the blacklisting exercise reveals its fundamental flaw. Further 13 per cent is supplied by the EU's dependencies, mainly the UK's Cayman Islands, Bermuda, and Guernsey. The jurisdictions that supply the most secrecy not covered by automatic information exchange of CbCR data are the British Virgin Islands, United States, and Curacao. Finally the chapter discusses policy recommendations that stem from our analysis.
Czech name
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Czech description
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Classification
Type
C - Chapter in a specialist book
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
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Continuities
R - Projekt Ramcoveho programu EK
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Book/collection name
Combating Fiscal Fraud and Empowering Regulators: Bringing tax money back into the COFFERS
ISBN
978-0-19-885472-2
Number of pages of the result
26
Pages from-to
132-157
Number of pages of the book
338
Publisher name
Oxford University Press.
Place of publication
Oxford
UT code for WoS chapter
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