Panama Papers : A Celebral Global Madness and What Options to Mitigate this Scourge in the Realm for Prudent Financial Accountability Through Taxation
This paper is a qualitative research dictated by the current unfortunate global financial sham. The paper has many dimensions but is limited within the parameters of taxation. Although, some generic discussions from the discourse of financial management are also discussed to theoretically enrich the paper as it deals with fictitious financial transactions through the establishment of offshore companies within the shores of established tax haven jurisdictions. Tax governance, accountability and transparency are the precepts for ethical financial obligations. They are the central components required in jealously guiding and preserving the wealth of a nation in the course for maintaining healthy and balanced financial transactions that is not devoid of any unethical considerations. This paper is a "post-mortem‟ empirical discussion on the “Panama Papers”. In this paper, the author discusses on the exposition of fraudulent financial transactions by offshore companies in tax haven jurisdictions. The paper also examines the effects of ineffective tax handles in the collections and enforcement of taxes from wealthy individuals and businesses. Findings from this paper suggest that there need to have a more robust tax administration in the drive for responsive compliance risk management strategies that are practicably proactive and responsive in nature. The findings provide a platform for global tax administrations from the developed, developing and transitional economies to work closely and share information in order to better mitigate the scourge of aggressive tax avoidance schemes and tax evasion practices. The paper recommend the need for undeterred financial inclusion, transparent disclosures and that tax administrations to evaluate their existing compliance and risk management tools, strategies and policies in order to conform to international best practices, so as to ameliorate the dangers of fiscal corruption in the form of non or fictitious (under-declarations) and understand how responsive regulation concept can be applied to improve the concept of self-regulated voluntary compliance culture in their administrations. In conclusion, this paper seeks to proffer solutions as to how best to address this global financial leak through the act of taxation by strengthening existing tax handles towards efficiency and effectiveness
Year of publication: |
2016
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Authors: | Jallow, Dr. Assan |
Publisher: |
[2016]: [S.l.] : SSRN |
Saved in:
freely available
Extent: | 1 Online-Ressource (18 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 12, 2016 erstellt |
Other identifiers: | 10.2139/ssrn.2766712 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012994300
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