I'm not convinced CRS means nothing in 1st col. Maybe for U.S. or European taxpayers, but e.g. around 1/2 of direct investment held via BVI co's is still in countries with no tax EOI with BVI at all: either bilat, MCAATM-on-request or CRS pairing. Maybe as CRS expands? [2 of 2]
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Replying to @Bakhunin @judith_odi and
Isn't the relevant set of agreements here between BVI & beneficial owners country(s) of tax residence? (i.e. not so much between BVI & host countries of FDI?) -- cf: Indonesia, Argentina above?
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Replying to @MForstater @judith_odi and
Both, surely? BO residence for income, host country for e.g. cap gains? (Also, we can't do the maths for the BOs' country of tax residence because we can't see them (natch!))
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Replying to @Bakhunin @judith_odi and
Maya Forstater Retweeted Maya Forstater
Based on what the Capital Economics Report says on where the BOs are from it looks like most main places covered by TIEAs (China, UK, US, Canada, several EU countries) .... the largest gap is Russiahttps://twitter.com/MForstater/status/992793417611710464 …
Maya Forstater added,
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Replying to @MForstater @judith_odi and
Interesting (assuming accurate -
@CapEconomics decline to release any of their data or calcs :-) (1) values/geography by location of underlying assets pretty close to that by location of UBO [1 of 2]1 reply 0 retweets 1 like -
Replying to @Bakhunin @MForstater and
[2 of 2] It's surely disingenuous to lump China/HK together, as here: if most of that (33%) slice is HK, then no tax EOI (no CRS pair and no TIEA). Add Russia and we could easily be approaching 40-50% of BVI-held assets?pic.twitter.com/OufYcHVrP5
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Replying to @Bakhunin @judith_odi and
I agree would have been more helpful to break them out (or to publish the disaggregated data)
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Replying to @MForstater @Bakhunin and
I want to try to put some rough perception data in that matrix..... will you help me ? Take the survey and share it . Ta! https://www.surveymonkey.co.uk/r/CCMMYX3
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Replying to @MForstater @judith_odi and
Great questionnaire. One addition to the intro blurb tho: AFAIK so far only one country can submit requests to the BVI's new BO database: the UK. This could change with additional bilateral agreements, but hasn't yet.pic.twitter.com/FQaqWo0mph
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The facts are unknown because the behaviours are hidden/depend on enforcement effort. Ppl's views imply an implicit risk assessment - what they think is going on. I want to see what this is
11:44 PM - 13 May 2018
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