How much global offshore tax evasion exists? It’s a difficult number to pin down.
One thing some parties can agree on — from academics to civil society — is that the OECD’s exchange of information frameworks, especially its automatic exchange of information (AEOI) standard, has reduced banking secrecy over the past several years. Recently, the EU Tax Observatory calculated that offshore tax evasion has decreased by a factor of nearly three in less than a decade because of AEOI. Now, only a quarter of offshore household wealth evades taxation, the report says.
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