Personal Finance

A Corporate Approach to Tax Collection


The release of the Panama papers is yet to reach its endgame, but there are some clear truths we can take from it. People or businesses that don’t pay their taxes – whether deliberately or through ignorance – undermine state revenues. They also distort competition by putting the non-compliant at an advantage, and they increase inequality, as it is the better off who more often tend to escape their obligations.

Filling the Tax Gap


The so-called Panama Papers span thousands of pages, revealing that many of the world’s elite have been hiding their money in offshore accounts in an attempt to shield their income from taxes.  Their release – the biggest data leak in history – depicts a world of rampant tax noncompliance. However, it also reveals just how vulnerable all electronic data in the 21st century are to discovery.

Tax Authorities Get it in Gear


The Australian Taxation Office is reported to be playing a “lead role” in sharing intelligence between tax officials from OECD countries, as part of the continuing fallout from the revelations of the Panama Papers. The Joint International Tax Shelter Information Collaboration, which is chaired by ATO head Chris Jordan, was being convened in Paris overnight, Australian time.