Mandatory disclosure regime in relation to cross-border arrangements

Abstract

Mandatory disclosure regime about cross-border arrangements has been recently the subject of legislative activity that influence the activities of intermediaries and taxpayers. Exchange of information is of accelerating importance in the tax area, resulting in significant and demanding activities of organizations such as OECD or European Union. The aim of such arrangements is to reduce tax evasion and to provide sufficient information for tax administration purposes. However, the question arises as to whether reporting such information is sufficiently evaluated and effective. The subject of this article is to review recent legislative activities in this area and to quantify its impact on taxpayers.