By Richard Eccleston
The monetary hindrance that engulfed international markets in 2008 created an acute want for better overseas financial cooperation. regardless of the G20 s trendy coordination function, the regulatory reaction to the difficulty has diversified significantly throughout governance arenas. This booklet makes a speciality of overseas taxation and examines how the monetary difficulty caused renewed makes an attempt to reinforce overseas tax transparency and confront tax havens. It highlights the complexity of foreign regime switch and the importance of nationwide and monetary pursuits, foreign agencies, family politics and the rising G20 leaders discussion board during this process.
This well timed publication highlights the demanding situations in post-financial obstacle international fiscal governance, info that would strongly entice students and graduate scholars within the fields of political technology, foreign political economic system, worldwide governance, overseas taxation and legislations. Stakeholders within the foreign tax regime together with diplomats and tax directors, overseas firms, NGO and enterprise representatives also will locate lots of enriching details during this learn.
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Extra resources for The Dynamics of Global Economic Governance: The Financial Crisis, the OECD, and the Politics of International Tax Cooperation
Example text
Indd 28 23/11/2012 13:04 Governing international taxation: problems and challenges 29 corporate subsidiaries designed to obscure and reallocate income, assets and debt (Desai 2005, 188; Sharman 2010, 7). As noted above, the British Virgin Islands and its population of 22 000 is home to 800 000 registered companies (Sharman 2010, 6; Palan et al. 2010, 57), while a detailed 2008 US Government Accountability Office study found banking giant Citigroup operating no fewer than 427 subsidiaries in secrecy jurisdictions (GAO 2008, 25).
First, effective leadership is critical to the creation and efficacy of international regimes. Regimes capable of addressing collaboration problems with significant distributional consequences require a serious commitment of resources which will only be forthcoming if powerful states have an enduring interest in the regime’s existence. Reflecting this, hegemonic stability theory of the 1970s, argued that the supply of regimes would be closely related to the capacity of a hegemonic power to promote and enforce international agreements (Gilpin 1981; Krasner 1983).
Indeed eminent scholars such as Robert Keohane (2005) have lamented that ‘social science is not yet at the point where a theory about such a multifaceted phenomenon as cooperation in world politics can be devised and tested’. While Keohane is correct to suggest that formal testing is problematic, it is possible, and indeed desirable, to use the existing literature on global governance to establish a coherent analytical framework to help establish the causal inferences that influence international cooperation in relation to taxation issues.