The New Global Attack on Personal Tax Evasion Using Foreign Investment and the Role of the United States

Policy development related to international tax evasion grew substantially in the first decade of this century and has exploded in the years since. A fear that the growing ease of global financial asset movements had increased the number of persons – particularly rich persons – evading home country tax obligations provided an important impetus in the first period, although the suppression of money laundering and terrorism were at least as significant. These concerns led to almost universal acceptance of the principle of the international exchange of tax- relevant information upon request by 2009.