Scandinavian Working Papers in Business Administration

Discussion Papers,
Norwegian School of Economics, Department of Business and Management Science

No 2023/22: Lost in Information: National Implementation of Global Tax Agreements

Annette Alstadsæter (), Elisa Casi (), Jakob Miethe () and Barbara M. B. Stage ()
Additional contact information
Annette Alstadsæter: School of Economics and Business, Norwegian University of Life Sciences, Postal: Norwegian University of Life Sciences , School of Economics and Business, Postboks 5003, 1433 Ås, Norway
Elisa Casi: Dept. of Business and Management Science, Norwegian School of Economics, Postal: NHH , Department of Business and Management Science, Helleveien 30, N-5045 Bergen, Norway
Jakob Miethe: Dept. of Economics, University of Munich, Postal: University of Munich , Department of Economics, Schackstr. 4 / I, 80539 Munich, Germany
Barbara M. B. Stage: WHU – Otto Beisheim School of Management, Postal: WHU – Otto Beisheim School of Management , Burgplatz 2, D-56179 Vallendar, Germany

Abstract: We study how national implementation of global tax agreements shape their effectiveness by focusing on the multilateral agreement on automatic information exchange on financial assets, the Common Reporting Standard (CRS). We create a new database on country-level enforcement which we combine with 1) micro-level data on cross-border bank transfers to Norway with unparalleled detail on hidden ownership structures and 2) macro-level data on cross-border bank deposits. Cash repatriation from tax havens increases significantly post-CRS implementation, but only from countries with high enforcement levels. A highly digitized tax administration triggers twice the drop in tax haven deposits compared to paper-based systems.

Keywords: Global Tax Agreements; Tax Evasion; Financial Flows; Tax Enforcement

JEL-codes: F42; G21; H26

Language: English

47 pages, First version: November 13, 2023. Revised: February 20, 2024.

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