Combatting Tax Evasion - Possible Solutions and Conclusions

Following the consequences of the international financial crisis and the subsequent economic downturn in 2007/08, current news has been determined by discussions and revealing of incentives about exploiting existing regulations and codes because this is subject to evade taxes. During the last years, several secrecy jurisdictions in Europe with a high Financial Secrecy Index (FSI) have announced to loosen their banking secrecy for preventing tax evasion and cooperating with EU and US tax authorities.