OECD lists the top 10 toughest countries on tax evasion
With more moves to streamline international efforts to combat tax evasion by multinationals, a new tax information exchange agreement now includes 51 countries.
The Organisation for Economic Cooperation and Development (OECD) is behind the new measures to automatically exchange tax information between nations and manage the differences on how tax issues are dealt with.
Top ten countries
The contractor management specialist CXC Global has identified the ten countries with the most aggressive approach to dealing with tax evasion in a recent survey.
Based on information from offices across its global network, CXC Global found that Spain, Germany, Brazil, Russia and Argentina were the most pro-active when it comes to tackling the issue.
The UK came sixth in the list, followed by Australia, Canada, Indonesia and New Zealand.
High profile targets
Germany recently jailed high profile figure and World Cup-winning footballer Uli Hoeness for tax fraud with a sentence of three and a half years, whilst Brazil has accused footballer Neymar of evading around $16m in taxes from 2011 to 2013. Spain has also recently hit the headlines for taking action against top footballers Lionel Messi, Xabi Alonso, and Javier Mascherano.
As the impact of this cross-border co-operation comes into force, it must be expected that some big name companies will fall under the spotlight regarding international taxation issues.
According to a recent article by The Guardian earlier this month, the Association of Chartered Certified Accountants (ACCA) and the…