On March 31, 2017 the OECD published a report titled: “Technology Tools to Tackle Tax Evasion and Tax Fraud”.
The report is divided into four key parts:
· Electronic sales suppression and counter-technology;
· False invoicing;
· The cash economy and the sharing economy; and
· Best practices.
According to the OECD the report draws on the experience of 21 countries in this area, including several developing countries, and highlights their key successes in using these technology tools. According to the OECD not only has substantial tax revenue been raised due to the reduction in tax evasion and tax fraud, but where these solutions have been implemented; a deterrent effect is shown, with overall increasing compliance by taxpayers. The OECD furthermore states that the report has been prepared with a view to encouraging other tax authorities to consider whether the same approach may be effective in their jurisdiction.
The report discusses a.o. the following topics:
· Electronic sales suppression and counter-technology
o What is the problem?
o What solutions can address electronic sales suppression?
o What are the results and benefits?
o What features do these solutions have?
o What are the costs?
o What other actions are needed to implement the solution?
· False invoicing
o What is the problem?
o What solutions can address false invoicing?
o What are the results and benefits?
o What features do these solutions have?
o What other actions are needed to implement the solution?
· The cash economy and the sharing economy: Complementary work to address the risks
o What are the challenges posed by the cash economy?
o What work is being undertaken to address the cash economy?
o What are the challenges posed by the sharing economy?
o What work is being undertaken the sharing economy?
· Introducing technology tools: Best practice approaches
Click here to be forwarded to the report as available on the website of the OECD, which will open in a new window.
Copyright – internationaltaxplaza.info
Stay informed: Subscribe to International Tax Plaza’s Newsletter! It’s completely FREE OF CHARGE!
and
Follow International Tax Plaza on Facebook
