Looking forward to participating in a program organized by Jeff Owens in Vienna, late February 2018. A conference entitled “High Net-Worth Individuals: The Challenge They Pose for Tax Administrations, FIUs and Law Enforcement Agencies” is hosted by the Institute for Austrian and International Tax Law (at the Vienna University of Economics and Business) and is organized in cooperation with the United Nations Office on Drugs and Crime with the support of the World Bank.
As a speaker and participant, I am hoping to share ideas I have on why developing countries, in Africa and elsewhere, are losing out on revenues given tax transparency. The Common Reporting Standard and other initiatives might well work for developed countries, but where tax systems are not ready for transparency, my fear is that wealth and business owners flee – resulting in lower, not higher tax revenues. I have some solutions to propose, and look forward to sharing these with the many government officials and representatives from regional and international organizations who will be there.
I am also looking forward to catching up with Andy Cole, formerly of HMRC in the UK, who is there as a speaker, and who was my counterpart from the UK tax administration in our development of the Liechtenstein Disclosure Facility. Co-incidentally, this was an intiative strongly supported by Jeff Owens who was then at the OECD, and who now is the Co-Director of the Tax and Good Governance Project for the WU Institute for Austrian and International Tax Law, the organizers of the event.
Here are some articles featuring my thinking on the subject: