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  1. Country-by-country reporting and other financial transparency measures affecting the European Union
    Autor*in: Janský, Petr; Knobel, Andres; Meinzer, Markus; Palanská, Tereza
    Erschienen: [2020]
    Verlag:  Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Prague

    In this paper we use the recently developed Bilateral Financial Secrecy Index to evaluate which countries supply most secrecy to EU Member States. Then, we assess how well-aimed are two of the EU's recent policy efforts to increase financial... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 167
    Fernleihe:
    keine Fernleihe

     

    In this paper we use the recently developed Bilateral Financial Secrecy Index to evaluate which countries supply most secrecy to EU Member States. Then, we assess how well-aimed are two of the EU's recent policy efforts to increase financial transparency: automatic Country-by-Country Reporting information exchange (CbCRIE) and the blacklist and the greylist of non-cooperative jurisdictions. We find that more than one-third of the financial secrecy that the EU faces comes from within the EU itself, and that the United States, Switzerland, and the Cayman Islands are the largest non-EU suppliers of secrecy to EU Member States. We report that active CbCRIE relationships now cover 79 per cent of the secrecy faced by the EU, but there is considerable heterogeneity in the share of secrecy that is covered by CbCRIE across the individual EU Member States, pointing to the potential to better aim the efforts of policymakers in identifying the most critical secrecy jurisdictions for individual countries. We further find that the blacklist and the greylist of noncooperative jurisdictions published by the European Commission overlap with our results for most of the critical jurisdictions, with the significant exception of the United States.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/228103
    Schriftenreihe: IES working paper ; 2020, 21
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  2. Hide-seek-hide?
    the effects of financial secrecy on cross-border financial assets
    Autor*in: Janský, Petr; Palanská, Tereza; Palanský, Miroslav
    Erschienen: January 2022
    Verlag:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    Excessive financial secrecy facilitates illicit financial flows, which constitute a major developmental challenge for low-income economies and cause significant tax revenue losses for governments around the world. In this paper we estimate the... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 248
    Fernleihe:
    keine Fernleihe

     

    Excessive financial secrecy facilitates illicit financial flows, which constitute a major developmental challenge for low-income economies and cause significant tax revenue losses for governments around the world. In this paper we estimate the semi-elasticity of cross-border financial assets to changes in financial secrecy and how it differs for countries at various income levels. We develop a new financial secrecy dataset for the 2011-20 period, which covers many specific policies in addition to the previously studied automatic information exchange. We then combine this with data on cross-border financial assets and find that investors do indeed react to changes in financial transparency by relocating their assets to offshore financial centres, which remain, or have recently become, more financially secretive than other countries (here, secrecy jurisdictions). In agreement with our theoretical predictions, we document that this effect is highly non-linear and stronger for portfolio investment than for bank deposits. Overall, we find a much stronger relocation effect for assets originating from lower-income countries.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789292671402
    Weitere Identifier:
    hdl: 10419/259365
    Schriftenreihe: WIDER working paper ; 2022, 9
    Schlagworte: financial secrecy; financial transparency; secrecy jurisdictions; tax havens; offshore financial centres
    Umfang: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  3. Did Uganda's corporate tax incentives benefit the Ugandan economy or only the firms?
    Autor*in: Musoke, Nicholas; Palanská, Tereza; Schimanski, Caroline
    Erschienen: November 2023
    Verlag:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    Uganda has one of the lowest corporate income tax collection rates in sub-Saharan Africa, while offering generous corporate tax incentives. It is unclear whether tax incentives achieve their objectives without primarily benefiting firms, potentially... mehr

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    Verlag (kostenfrei)
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    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 248
    Fernleihe:
    keine Fernleihe

     

    Uganda has one of the lowest corporate income tax collection rates in sub-Saharan Africa, while offering generous corporate tax incentives. It is unclear whether tax incentives achieve their objectives without primarily benefiting firms, potentially undermining domestic revenue mobilization and encouraging tax avoidance. Using Uganda's administrative tax data for 2014-21 and a new tax incentive dataset, this study shows that tax holidays and the reintroduction of investment allowances are associated with a significant increase in investment and mostly with higher workforce-related expenses. However, there is no clear evidence of a causal link with these incentives, while tax holidays can cost Uganda over UGX160 billion annually, corresponding to 0.12 per cent of GDP, thus demanding further research. In addition to guidance for Ugandan policy-makers on the effect of particular tax incentives, the results also highlight the importance of assessing impacts and systematic use of administrative tax data for evidence-based policymaking in developing countries.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789292674410
    Weitere Identifier:
    hdl: 10419/283829
    Schriftenreihe: WIDER working paper ; 2023, 133
    Schlagworte: corporate tax incentives; domestic revenue mobilization; administrative tax data; developing countries; tax avoidance
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen