02095cas a2200265 a 4500 AALejournalIMF016023 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513519975 1018-5941 BD-DhAAL BD-DhAAL Beer, Sebastian. Hidden Treasure : The Impact of Automatic Exchange of Information on Cross-Border Tax Evasion / Sebastian Beer, Maria Coelho, Sebastien Leduc. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We analyze the impact of exchange of information in tax matters in reducing international tax evasion between 1995 and 2018. Based on bilateral deposit data for 39 reporting countries and more than 200 counterparty jurisdictions, we find that recent automatic exchange of information frameworks reduced foreign-owned deposits in offshore jurisdictions by an average of 25 percent. This effect is statistically significant and, as expected, much larger than the effect of information exchange upon request, which is not significant. Furthermore, to test the sensitivity of our findings, we estimate countries' offshore status and the impact of information exchange simultaneously using a finite mixture model. The results confirm that automatic (and not upon request) exchange of information impacts cross-border deposits in offshore jurisdictions, which are characterized by low income tax rates and strong financial secrecy. Mode of access: Internet Coelho, Maria. Leduc, Sebastien. IMF Working Papers; Working Paper ; No. 2019/286 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/286/001.2019.issue-286-en.xml IMF e-Library