OECD has emphasized the benefits to tax administrations of the automatic reporting of information by financial institutions for both (a) domestic tax compliance and tax administration and (b) the automatic exchange of information with tax treaty partners

(16) As regards payable taxes, it is required to list item by item tax amount due and not paid at the end of the reporting period according to tax categories.

In addition, automatic reporting enables tax administrations to implement programmes that may benefit taxpayers by reducing their compliance burden.

On the tax side, there has clearly been progress. France imposed on its banks strong transparency and reporting requirements for banking activities in tax havens, in addition to the international standard for information exchange.

Automatic reporting of information by financial institutions can be very useful to tax administrations for the verification of information reported by taxpayers.

Such automatic reporting by payors of income could be considered the most effective procedure for enabling a Government to acquire relevant tax information.

During the reporting period, the Bosnia and Herzegovina authorities made significant strides towards implementing a single set of tax rules, applicable throughout the country.

Many tax administrations also receive certain types of information from banks (e.g., amount of interest payments) on an automatic basis, which greatly facilitates domestic tax administration and potentially expands the types of information that may be exchanged with treaty partners on an automatic basis Tax administrations and taxpayers can benefit from automatic reporting of information by financial institutions.

As indicated above, OECD has in effect indicated that such automatic reporting is the most effective method of enabling a Government to obtain the relevant tax related information.

In 2003 2004 the Unit contributed to 1,743 investigations, with one revenue authority reporting that intelligence from the Unit assisted investigations that recovered an additional 75 million in tax.

If the transmitting State does not generally receive that information from payors of income by a method of automatic reporting, the transmitting State generally cannot exchange information automatically with tax treaty partners.

If the transmitting State does not impose any tax on such income, it may exempt from the automatic reporting requirement those payments from payors of income in the transmitting State to foreign persons.

Previous positions include Director, International Tax Relations, Tax Policy Department Director, Tax Department, Italian Banking Association and Economic Adviser to the Minister of Finance for international tax policy and financial tax issues.

When tax evasion is extremely common, taxpayers are likely to experience high transaction and psychological costs in resorting to tax auditors to enforce the issuing of receipts. But if consumers bear the brunt of costs for reporting violations to the authorities, subsidies may induce them to seek out vendors willing to offer legal transactions.

Capital tax differences among countries would induce capital to flow from the high tax to the low tax economies.

a Airstrip includes use tax, landing fee and passenger tax.

Director, International Tax Policy Division, Tax Bureau, Ministry of Finance.

Previous positions include Deputy Director General, Foreign Investment Taxation Department Chief, Income Tax Division, Foreign Investment Taxation Department and Chief, Tax Policy and Tax Administration Divisions, Offshore Oil Tax Administration.

Previous positions include Director, Income Tax Division Director, Korean National Tax Tribunal Vice Director, Individual Income Tax Division and Principal Administrator of the Financial Transaction Unit, Tax Treaty, Transfer Pricing and Financial Transaction Division, Centre for Tax Policy and Administration, OECD.

GRI (2002) Sustainability Reporting Guidelines. Global Reporting Initiative.

This tax credit replaces the family benefits program, the non refundable tax credit for dependent children and the tax reduction for families.

Tax revenue

Deputy International Tax Counsel, Office of International Tax Counsel, Department of the Treasury.

Shanghai tax departments have carried out a series of comprehensive activities of tax propaganda since the announcement of the new personal income tax law.

(b) The Committee of Experts on International Cooperation in Tax Matters designate a subcommittee to liaise during 2006 with the OECD Fiscal Committee on (i) the issue of automatic reporting of income within the transmitting State (discussed in paras.

High unemployment countries include high tax Germany, France, and Italy, but also low tax Japan and Spain. Low unemployment nations include low tax Britain and the US, but also very high tax Denmark and Sweden.

(31) As regards income tax expenses, it is required to make disclosure of the composition of income tax expenses (proceeds), including current income tax and deferred income tax it is also required to make disclosure of the relations between income tax expenses (proceeds) and accounting profits.

After launching the pilots to replace the business tax with a value added tax,

Reporting

Reporting

Reporting

Reporting

Reporting

Reporting

Reporting

An Inequality Tax

Evading Tax Evasion

New tax system

2220 Stamp tax

2250 Statistical tax

Previous positions include head of the committee reviewing tax law Assistant to the Director, Income Tax Department and head of Income Tax Section, Financial Affairs Department.

Previous positions include associate, International Tax Counsel, Office of International Tax Counsel Attorney advisor, Office of International Tax Counsel and associate, Cleary, Gottlieb, Steen and Hamilton.

On July 1, tax reductions were imposed on 218 tax items of cars and parts.

On July 1, tax reductions were imposed on 1449 tax items of daily consumer goods.

They put 180 percent tax on gasoline cars and zero tax on zero emission cars.