Building Transparent Tax Compliance by Banks

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This book analyses the role banks play in the provision of aggressive tax planning arrangements. It examines the nature of banking, the complex structured financing transactions developed by banks and how they are then used by both banks and their clients. It also explores the internal governance processes that banks use to manage tax risk and the prevention, detection and response strategies applied by different revenue bodies in responding to the challenges that banks pose. The book makes a number of recommendations for revenue bodies and identifies best practices for consideration by banks.




The 2006 ‘Seoul Declaration’ set out the OECD Forum on Tax Administration’s concerns about the significant and growing problem of international non-compliance and the role played by tax advisors, financial and other institutions particularly in relation to the promotion of unacceptable tax minimisation arrangements. The FTA’s subsequent Study into the Role of Tax Intermediaries (Intermediaries Study) concluded that some banks play a significant role in developing and implementing aggressive tax planning, both for their clients and on their own account.

Building Transparent Tax Compliance by Banks was commissioned at the fourth meeting of the FTA in Cape Town, South Africa, in January 2008 as a follow up to the Intermediaries Study and examines the role of banks in aggressive tax planning, the relationships between banks and revenue bodies, and whether there are benefits in engaging in an enhanced relationship.


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