AUTOMATIC EXCHANGE OF INFORMATION IN THE TAX LAW SYSTEM
DOI:
https://doi.org/10.32689/2523-4536/63-4Keywords:
information exchange, information, taxes, financial and economic information, automatic information exchangeAbstract
It is considered that the automatic exchange of financial account information presented in FATCA, the General Reporting Standard, is also regulated at the level of Model Rules (Model Rules are mandatory disclosure to counteract agreements to circumvent the General Reporting Standard and transparent offshore structures). It is noted that the directive provides for objective criteria according to which there is no automatic exchange of decisions of tax authorities. All types of automatic information exchange are represented in the European Union, while so far only two types of automatic information exchange have become widespread in the world: automatic exchange of information on financial accounts and automatic exchange of interstate reporting. The author analyzes the financial relations, which are organizational, so the automatic exchange of information is qualified as an institution of both branches of law. A feature of financial relations is the property nature, which has a relationship regarding the automatic exchange of information: its subject is information of a financial and economic nature, and he himself is a measure of tax administration or tax control. Automatic exchange of information is an institution of financial law and meets the organizational and property criteria. In summary, the automatic exchange of information is part of the system of measures of international cooperation of tax authorities, along with the provision of legal assistance in tax matters and the implementation of foreign tax requirements for tax collection, it is also an institution of international tax law. Its allocation as an institution of tax law follows from the very content of the automatic exchange of information: it is a measure of tax administration or tax control, which is the subject of information of a financial and economic nature. The automatic exchange of information between the member states of the European Union and the United States of America is currently aimed at providing participants with all the necessary conditions for work and development not only in the legal field, but also in the economic, namely tax.
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