Do Illicit Financial Flows Hurt Tax Revenues? PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Do Illicit Financial Flows Hurt Tax Revenues? PDF full book. Access full book title Do Illicit Financial Flows Hurt Tax Revenues? by Jean-Louis Combes. Download full books in PDF and EPUB format.
Author: Jean-Louis Combes
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
Get Book Here
Book Description
Recent work draws attention to the fragility of domestic tax revenues - a vital resource for the developing world - to illicit financial flows. To cope with two major challenges in the illicit financial flows-tax revenues relationship - related to the mere illicit financial flows measurement and reverse causality - this paper exploits the Financial Action Task Force data using an impact assessment analysis. Estimations reveal a significant tax revenue loss in countries associated with important illicit financial flows with respect to comparable countries without important illicit financial flows. Moreover, this causal effect - estimated as being economically meaningful--is supported by a large robustness section, and in particular remains unchanged when using several "doubly robust” estimators. Lastly, it unveils heterogeneities in the impact of illicit financial flows on tax revenues, related to the type of tax - a significant loss for indirect but not for direct taxes - and the considered environment. Therefore, policies combating illicit financial flows - for example, by developing institutions or a sound financial system, as shown by the estimations - may provide additional tax revenues for the developing world.
Author: Jean-Louis Combes
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
Get Book Here
Book Description
Recent work draws attention to the fragility of domestic tax revenues - a vital resource for the developing world - to illicit financial flows. To cope with two major challenges in the illicit financial flows-tax revenues relationship - related to the mere illicit financial flows measurement and reverse causality - this paper exploits the Financial Action Task Force data using an impact assessment analysis. Estimations reveal a significant tax revenue loss in countries associated with important illicit financial flows with respect to comparable countries without important illicit financial flows. Moreover, this causal effect - estimated as being economically meaningful--is supported by a large robustness section, and in particular remains unchanged when using several "doubly robust” estimators. Lastly, it unveils heterogeneities in the impact of illicit financial flows on tax revenues, related to the type of tax - a significant loss for indirect but not for direct taxes - and the considered environment. Therefore, policies combating illicit financial flows - for example, by developing institutions or a sound financial system, as shown by the estimations - may provide additional tax revenues for the developing world.
Author: Alex Cobham
Publisher: Oxford University Press
ISBN: 0198854412
Category : Commercial crimes
Languages : en
Pages : 224
Get Book Here
Book Description
Illicit financial flows constitute a global phenomenon of massive but uncertain scale, which erodes government revenues and drives corruption in countries rich and poor. This book offers a critical examination of existing data and methodologies, identifying the most promising avenues for future improvement.
Author: Johnny Flentø
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
The discourse about illicit financial flows (IFFs) repeatedly stresses promoting development and equality in the world, but the links between them are much more difficult to ascertain. As defined in relation to Sustainable Development Goal (SDG) 16, the concept of what is illicit rests on definitions of terror and crime, on which there is no universal agreement, and it contains too many and too different types of flows to be of operational use in policy formulation. Combined with the difficulties and weaknesses in estimating the aggregate volume of illicit flows, this broad umbrella definition of the term lends itself to the harbouring of various political agendas and instrumentalizations of the concept for other political ends. The discourse that illicit flows undermine development seems widely accepted, as long as one does not have to be specific. However, to address questions about the effects of anti-IFF initiatives and which anti-IFF initiatives actually work, we need much more sector-specific and granular analysis, as some researchers are already pursuing. In this paper we argue that there is large potential for stemming illicit flows if some drugs are legalized and the fencing of stolen money in tax havens and secrecy jurisdictions is effectively outlawed. Important and potentially strong initiatives which could change the tax landscape are under way. However, they are geared more towards corporations and less towards trusts and individuals, and they stop short of criminalizing the fencers of illicit money. In relation to inequality, the reforms will mainly assist governments in the rich countries, primarily OECD countries, to tax and redistribute income from very large and wealthy corporations. Taxation tools that could effectively redistribute income from the large tech giants and other multinational enterprises to the world's poor are not really on the table. At the same time, the rich countries insist on globally outlawing many drugs that would make excellent cash crops for farmers in poor countries, primarily because they anticipate a public health problem at home. In curbing illicit flows with a development effect, legalizing cannabis should be high on the agenda.
Author: Petr Janský
Publisher:
ISBN: 9780191888717
Category : Commercial crimes
Languages : en
Pages : 224
Get Book Here
Book Description
Illicit financial flows constitute a global phenomenon of massive but uncertain scale, which erodes government revenues and drives corruption in countries rich and poor. This book offers a critical examination of existing data and methodologies, identifying the most promising avenues for future improvement.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264203508
Category :
Languages : en
Pages : 128
Get Book Here
Book Description
This publication identifies the main areas of weakness and potential areas for action to combat money-laundering, tax evasion, foreign bribery, and to identify, freeze and return stolen assets.
Author: Brigitte Alepin
Publisher: Kluwer Law International B.V.
ISBN: 9041194614
Category : Law
Languages : en
Pages : 208
Get Book Here
Book Description
Over the past few decades, the concentration of wealth and property in the hands of a few has been facilitated by tax evasion, tax avoidance, and above all by tax competition. Fortunately, a determined move toward international cooperation among tax authorities is gathering its forces to do battle. This invaluable book shows how the globalization of trade, the digitization of the economy, tax competition between sovereign states, the erosion of the tax base, and the transfer of pro ts have all revealed the weaknesses of a traditional tax system that has reached its limits, and how numerous states and groups of states have joined efforts in creating a new international tax system designed to restore fairness and stability in the levying of taxes worldwide. Stemming from a 2016 conference initiated by the Canadian non-pro t organization TaxCOOP, convened by the World Bank and bringing together well-known taxation experts from prominent international organizations, the book presents outstanding contributions highlighting the impacts of tax competition and viable solutions. Among the issues and topics covered are the following: – electronic commerce and electronic money; – transfer pricing; – derivatives and hedge funds; – protecting tax whistle-blowers; – offshore tax investigations; – possibility of an international tax court; – impact of tax competition on developing countries; – carbon pricing; – tobacco taxation; and – effective taxation of the ultra-wealthy and their nancial capital. The chapters include details of country experiences and results, in some cases analyzed by key protagonists themselves. Collectively, the contributions take a giant step toward reinforcing the power of sovereign states in sectors such as the environment, education, and health. As an authoritative guide to increasing the level of transparency and accountability of private and public economic actors and restoring citizens’ trust in the fairness of our global governance systems, this peerless volume will be warmly welcomed by tax lawyers, taxation authorities, and interested academics worldwide.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344895
Category : Business & Economics
Languages : en
Pages : 81
Get Book Here
Book Description
This paper addresses core challenges that all tax administrations face in dealing with noncompliance—which are now receiving renewed attention. Long a priority in developing countries, assuring strong compliance has acquired greater priority in countries facing intensified revenue needs, and is critical for fairness and statebuilding. Series: Policy Papers
Author: Raymond W. Baker
Publisher: John Wiley & Sons
ISBN: 0471748587
Category : Business & Economics
Languages : en
Pages : 288
Get Book Here
Book Description
For over forty years in more than sixty countries, Raymond Baker has witnessed the free-market system operating illicitly and corruptly, with devastating consequences. In Capitalism’s Achilles Heel, Baker takes readers on a fascinating journey through the global free-market system and reveals how dirty money, poverty, and inequality are inextricably intertwined. Readers will discover how small illicit transactions lead to massive illegalities and how staggering global income disparities are worsened by the illegalities that permeate international capitalism. Drawing on his experiences, Baker shows how Western banks and businesses use secret transactions and ignore laws while handling some $1 trillion in illicit proceeds each year. He also illustrates how businesspeople, criminals, and kleptocrats perfect the same techniques to shift funds and how these tactics negatively affect individuals, institutions, and countries.
Author: Friedrich Schneider
Publisher: Cambridge University Press
ISBN: 1107034841
Category : Business & Economics
Languages : en
Pages : 225
Get Book Here
Book Description
This book presents new data to give an overview of shadow economies from OECD countries and propose solutions to prevent illicit work.
Author: Todd Moss
Publisher: CGD Books
ISBN: 1933286695
Category : Business & Economics
Languages : en
Pages : 190
Get Book Here
Book Description
Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.
