Sunday, December 25, 2016

The fight against tax fraud is bearing fruit – The Point

of course, there was the case Cahuzac, the Panama Papers or even the recent Football Leaks… However, the pressure of States on the tax evaders seems to work. According to the OECD data, as revealed by The Sunday Newspaper , the adjustment of tax evaders around the world has reported 70 billion euros. A half-million people are affected. France pulls its pin of the game with 48 000 taxpayers who have regularised their situation, 22 500 cases treated in 30 November and € 8.4 billion recovered.

In detail, it is Brazil that has recovered the most money, with 14.4 billion euros. Following the United States ($ 8.6 billion), France and Italy ($ 8 billion). South Africa and Sweden (700 million euros) and Norway ($ 300 million) will follow. If you don’t know the exact data of tax revenue is repatriated to the United Kingdom, Germany or Spain, the weekly says that this could amount to several billion.

READ also Those who are pinched in 2016

The progress of Switzerland

mechanisms of recovering money from the fraud have been put in place following the economic crisis of 2008. One of the features is the exchange of information on request, between countries. Then, as pointed out in JDD, the United States has adopted a new tax regulation that puts pressure on banking secrecy. On January 1, 2017, as a measure decided upon by the G20 will be implemented : for 50 countries, banks will have to give their tax authorities the information on the accounts abroad of their nationals.

Evidence that the armada set-up works, and that minds change, even in Switzerland, long considered a tax haven and a safe-deposit box, progresses. According to the JDD, which is based on data from the OECD, the country would be able “to regulate a lot of financial income”.


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