Information across borders Indirect and Direct Taxation Ian Young 15 April 2010

ICAEW Tax and Society Taxes are what we pay for civilised society Olive Wendell Holmes – 1927 case Judge in US Supreme Court

ICAEW Tax and society authority, effectiveness, accountability and responsiveness is closely related to the ways in which governments are financed; and Taxation stimulates demands for representation, and an effective revenue authority is the central pillar of state capacity. Taxation and State Building in Developing Countries IMF has suggested that tax needs to represent at least 15% to achieve the above

ICAEW Taxation and borders Tax is levied at the country level Business and individuals operate internationally

ICAEW Recent developments Exchange of information across borders Greater transparency within borders Pursuit of tax liabilities across borders

ICAEW Administering the tax system Self Assessment Broadening the tax base Policing the system Exchanging information across borders

ICAEW Tax, privacy and confidentiality Evasion and/or Avoidance Convention on Human Rights Confidentiality Powers and safeguards Taxpayers’ Charters Legal Professional Privilege

ICAEW Some international developments JITSIC – Joint International Tax Shelter Information Centre Seoul Declaration and Cape Town Communiqué HNWI and Bank follow-on studies OECD European Commission United Nations VAT Package Country by country reporting

ICAEW Transaction taxes VAT Transfer pricing OECD Business Restructuring

Information across borders Indirect and Direct Taxation Ian Young 15 April 2010