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 banking environment and the financial crisis

• Banks play a significant role in the global economy.

• Banks engage with revenue bodies both in relation to their own tax affairs and in their capacity as intermediaries.

• The complexity and lack of transparency of many innovative financial products developed in the course of investment banking is a key concern of banking regulators and revenue bodies.

• The financial crisis is having a major impact on the banking environment and as a consequence revenue bodies will need to consider a number of important regulatory and tax compliance issues. 


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