FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W251942171> ?p ?o ?g. }

• W251942171 startingPage "251" @default.
• W251942171 abstract "I. INTRODUCTION The increased mobility of capital facilitates investments in foreign capital markets and the movement of income from such investments across national borders.1 While capital mobility has many benefits, it also presents pitfalls in the areas of tax enforcement and tax policy. Individual and corporate taxpayers evade taxation of interest income by holding investments abroad while hiding interest income from their country of residence.2 In the area of tax policy, global capital markets link the fates of countries' tax policies: Countries devise tax regimes to retain or attract new mobile capital investment, in many cases exploiting the difficulty of tracking income flows across national borders. This behavior causes countries to bid down tax rates. Developed nations, aware of these pitfalls, are trying to address the twin threats of tax evasion and harmful tax competition presented by capital mobility.3 Multilateral coordination of tax policy and tax enforcement has proven to be a contentious and difficult goal: Developing nations object to wealthier countries' attempts to dictate multilateral tax practices, arguing that this effort impinges on their sovereign right to structure their tax regimes in ways that attract capital investment.4 Wealthier, industrialized countries want to protect their tax bases and yet hesitate to abandon advantageous tax practices, particularly bank secrecy, that protect their capital markets and financial sectors.5 One attempt at multilateral coordination is the European Union's proposed tax agreement. This agreement attempts to capture interest income from the foreign investments of individual taxpayers.6 Such income is generated, for example, when the citizen of a country invests in the capital markets of another country, the country, often holding the proceeds in a bank account in the host country.7 Such income remains largely untaxed, in part because of low tax rates among countries competing for capital investment, and also in part because investors do not report to their home country income earned abroad.8 The latest version of the E.U. savings tax agreement would ensure taxation of such income in part by coordinating the tax rates of certain countries and in part by ensuring that the banks of host countries report the foreign investors' bank account information to tax authorities.9 The E.U. savings tax agreement is critical in two respects. First, it would help reverse the trend of a worldwide tax exemption for interest income that crosses national borders and ameliorate resulting distortions in national tax policies.10 Second, as the first multilateral tax agreement subject to a pluralistic negotiation and ratification process among countries with relatively equal bargaining power, it serves as a bellwether for broader multilateral tax enforcement and tax policy efforts. The controversies swirling around the E.U. savings tax agreement, both in Europe and in the United States, reveal many of the biggest obstacles to coordinating tax enforcement and tax policies. Austria, Belgium, Luxembourg, and Switzerland have been reluctant to participate in any agreement that could impinge upon their bank secrecy regimes.11 In the United States, many conservative groups argue that any U.S. policy that facilitates the taxation of cross-border interest income could cause loss of capital investment in the United States, impose administrative burdens on the U.S. financial sector, and impinge upon individual privacy.12 Such concerns are advanced even as international efforts to combat terrorism and money laundering impose greater responsibilities on banks and erode bank secrecy policies that facilitate not only tax evasion, but also laundering funds obtained through crime. This Note first explains the development and effect of the current global exemption for cross-border interest income, how this exemption distorts national tax policies, and the European Union's effort to reach a multilateral agreement to capture cross-border interest income for taxation. …" @default.
• W251942171 created "2016-06-24" @default.
• W251942171 creator A5079807430 @default.
• W251942171 date "2005-01-01" @default.
• W251942171 modified "2023-09-24" @default.
• W251942171 title "Taxation of Cross-Border Interest Flows: The Promises and Failures of the European Union Approach" @default.
• W251942171 hasPublicationYear "2005" @default.
• W251942171 type Work @default.
• W251942171 sameAs 251942171 @default.
• W251942171 citedByCount "0" @default.
• W251942171 crossrefType "journal-article" @default.
• W251942171 hasAuthorship W251942171A5079807430 @default.
• W251942171 hasConcept C100001284 @default.
• W251942171 hasConcept C10138342 @default.
• W251942171 hasConcept C105639569 @default.
• W251942171 hasConcept C111326686 @default.
• W251942171 hasConcept C113216237 @default.
• W251942171 hasConcept C144133560 @default.
• W251942171 hasConcept C162324750 @default.
• W251942171 hasConcept C18547055 @default.
• W251942171 hasConcept C193681711 @default.
• W251942171 hasConcept C2776462828 @default.
• W251942171 hasConcept C2780313560 @default.
• W251942171 hasConcept C51303962 @default.
• W251942171 hasConcept C514942387 @default.
• W251942171 hasConcept C551662922 @default.
• W251942171 hasConcept C55214782 @default.
• W251942171 hasConcept C557009689 @default.
• W251942171 hasConcept C74939039 @default.
• W251942171 hasConceptScore W251942171C100001284 @default.
• W251942171 hasConceptScore W251942171C10138342 @default.
• W251942171 hasConceptScore W251942171C105639569 @default.
• W251942171 hasConceptScore W251942171C111326686 @default.
• W251942171 hasConceptScore W251942171C113216237 @default.
• W251942171 hasConceptScore W251942171C144133560 @default.
• W251942171 hasConceptScore W251942171C162324750 @default.
• W251942171 hasConceptScore W251942171C18547055 @default.
• W251942171 hasConceptScore W251942171C193681711 @default.
• W251942171 hasConceptScore W251942171C2776462828 @default.
• W251942171 hasConceptScore W251942171C2780313560 @default.
• W251942171 hasConceptScore W251942171C51303962 @default.
• W251942171 hasConceptScore W251942171C514942387 @default.
• W251942171 hasConceptScore W251942171C551662922 @default.
• W251942171 hasConceptScore W251942171C55214782 @default.
• W251942171 hasConceptScore W251942171C557009689 @default.
• W251942171 hasConceptScore W251942171C74939039 @default.
• W251942171 hasIssue "1" @default.
• W251942171 hasLocation W2519421711 @default.
• W251942171 hasOpenAccess W251942171 @default.
• W251942171 hasPrimaryLocation W2519421711 @default.
• W251942171 hasRelatedWork W1539333344 @default.
• W251942171 hasRelatedWork W1599349843 @default.
• W251942171 hasRelatedWork W1672103928 @default.
• W251942171 hasRelatedWork W1803937684 @default.
• W251942171 hasRelatedWork W1976772187 @default.
• W251942171 hasRelatedWork W2004100476 @default.
• W251942171 hasRelatedWork W2056059070 @default.
• W251942171 hasRelatedWork W2098852554 @default.
• W251942171 hasRelatedWork W2148718473 @default.
• W251942171 hasRelatedWork W2169440690 @default.
• W251942171 hasRelatedWork W2235957138 @default.
• W251942171 hasRelatedWork W239675740 @default.
• W251942171 hasRelatedWork W2485516970 @default.
• W251942171 hasRelatedWork W2753256302 @default.
• W251942171 hasRelatedWork W3121973865 @default.
• W251942171 hasRelatedWork W3122048546 @default.
• W251942171 hasRelatedWork W3123504449 @default.
• W251942171 hasRelatedWork W3123556958 @default.
• W251942171 hasRelatedWork W3124217588 @default.
• W251942171 hasRelatedWork W608774777 @default.
• W251942171 hasVolume "37" @default.
• W251942171 isParatext "false" @default.
• W251942171 isRetracted "false" @default.
• W251942171 magId "251942171" @default.
• W251942171 workType "article" @default.