Shifting Paradigms

New Approaches to Global Tax

There has been a discernible shift in attitudes to global tax.

Transparency has become a buzzword among tax professionals since the ‘Panama Papers’ leak rocked the world in 2016. Ongoing initiatives concerning transfer pricing, offshore entities and common reporting standards, among others, all now seek to increase the transparency around where profit is earned and wealth accumulated.

International bodies such as the OECD and European Union have sponsored these extensive initiatives, as have countries keen to receive a greater share of tax on profits and wealth derived within their jurisdictions or compiled by their citizens.

Aggressive tax planning and avoidance has become a dirty word and, as a result, the expertise of respectable tax lawyers and accountants is directed towards legal tax management and compliance with these new and complex codes.

For businesses and individuals with an international perspective, the task of complying with multi-jurisdictional tax regulations has become extremely complex. There is an increasing need for clear, appropriate and efficient tax advice across multiple jurisdictions.

With this in mind, IR Global brought twelve members of its Tax Group together to discuss the shifting paradigms of international tax. The aim of this feature is to give members and their clients an insight into innovative approaches to tax management across a range of jurisdictions. We also assess how new tax regulations and initiatives, such as BEPS, CRS, FATCA and CBCR are being negotiated and implemented.

The following discussion involves IR Global members from the United States, Denmark, Japan, Mauritius, Lebanon, Cyprus, Malta, The Netherlands, France, Uruguay, New Zealand and Luxembourg.