Innovations in the War on Tax Evasion. Kaye, T. A. Brigham Young University Law Review, 2014(2):363--413, 2014. ![Innovations in the War on Tax Evasion [link]](https://bibbase.org/img/filetypes/link.svg "link")
Paper abstract bibtex The US unilaterally responded to the offshore tax evasion problem by enacting the Foreign Account Tax Compliance Act. FATCA requires foreign banks to report information about financial accounts held by US taxpayers directly to the Internal Revenue Service and imposes a thirty percent withholding tax on certain US payments to any bank that will not cooperate. The European Union expressed its concerns to the US Treasury about the compliance burden on the financial industry and the conflict with EU Member States' laws on privacy and data protection. Treasury is resolving these issues by negotiating bilateral agreements known as Intergovernmental Agreements that will require reciprocity on the part of the US in the exchange of information. This article urges the US to adopt the regulations and legislation that are necessary before the US can provide its FATCA partners with the same information that they have been asked to give the US government.
@article{kaye_innovations_2014,
title = {Innovations in the {War} on {Tax} {Evasion}},
volume = {2014},
issn = {0360151X},
shorttitle = {Innovations in the {War} on {Tax} {Evasion}},
url = {http://search.proquest.com/docview/1567673619?accountid=10382 http://link.library.curtin.edu.au/openurl??url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&genre=article&sid=ProQ:ProQ%3Aabiglobal&atitle=Innovations+in+the+War+on+Tax+Evasion&title=Brigham+Young+University+Law+Review&issn=0360151X&date=2014-03-01&volume=2014&issue=2&spage=363&au=Kaye%2C+Tracy+A&isbn=&jtitle=Brigham+Young+University+Law+Review&btitle=&rft_id=info:eric/&rft_id=info:doi/},
abstract = {The US unilaterally responded to the offshore tax evasion problem by enacting the Foreign Account Tax Compliance Act. FATCA requires foreign banks to report information about financial accounts held by US taxpayers directly to the Internal Revenue Service and imposes a thirty percent withholding tax on certain US payments to any bank that will not cooperate. The European Union expressed its concerns to the US Treasury about the compliance burden on the financial industry and the conflict with EU Member States' laws on privacy and data protection. Treasury is resolving these issues by negotiating bilateral agreements known as Intergovernmental Agreements that will require reciprocity on the part of the US in the exchange of information. This article urges the US to adopt the regulations and legislation that are necessary before the US can provide its FATCA partners with the same information that they have been asked to give the US government.},
language = {English},
number = {2},
journal = {Brigham Young University Law Review},
author = {Kaye, Tracy A.},
year = {2014},
keywords = {4210:Institutional taxation, 4320:Legislation, 8100:Financial services industry, 9175:Western Europe, 9190:United States, Agreements, Europe, Foreign Account Tax Compliance Act 2010-US, Law, Offshore banking, Reciprocity, Tax evasion, United States--US},
pages = {363--413}
}
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