cryptohunter
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- PPF Points
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Governments and international organizations are taking several steps to combat offshore tax evasion and illegal tax avoidance practices. Some of the key measures include:
- Increased regulation and enforcement: Governments are increasing their regulation and enforcement of offshore tax planning, including implementing new laws and regulations, conducting audits and investigations, and imposing penalties for non-compliance.
- Information exchange: Governments are increasing their efforts to share information about individuals and companies who engage in offshore tax evasion and avoidance. This includes initiatives such as the Common Reporting Standard (CRS), which promotes greater transparency and information exchange between countries.
- International cooperation: Governments are working together through international organizations, such as the Organization for Economic Cooperation and Development (OECD) and the European Union, to combat offshore tax evasion and avoidance. This includes initiatives such as the Base Erosion and Profit Shifting (BEPS) project, which seeks to prevent companies from using offshore tax havens to artificially reduce their tax liabilities.
- Public shaming: Governments and international organizations are using public shaming as a tool to deter companies and individuals from engaging in offshore tax evasion and avoidance. This includes publishing lists of tax havens and companies that use these jurisdictions to reduce their tax liabilities.