Center for Freedom and Prosperity
For Immediate Release
Tuesday, July 22, 2014
Statement from CF&P President on OECD’s Global Standard for Automatic Exchange of Tax Information
(Washington, D.C., Tuesday, July 22, 2014) In response to the OECD’s release of its new Standard for Automatic Exchange of Financial Information in Tax Matters, Center for Freedom and Prosperity President Andrew Quinlan offers the following statement:
“This is just more of the same from the unelected bureaucrats at the OECD. International tax collectors are determined to abolish tax competition by any means possible.
We’ve already seen the disastrous consequences of attempting to globally implement the Foreign Account Tax Compliance Act (FATCA). The OECD’s latest effort will only compound the problem and pile even more burdens on the global economy. It will also subject taxpayers everywhere to unacceptable violations of basic privacy and human rights, allowing bad state actors to more easily harass and intimidate minority groups and political opponents.
The simple and common sense alternative to the OECD’s expensive and convoluted new international tax regime is residence based taxation. There’s no moral or legal justification for any nation to tax beyond its borders.”
The Center for Freedom & Prosperity is a Washington, DC based think-tank dedicated to promotion of tax competition, financial privacy and fiscal sovereignty.
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Andrew Quinlan can be reached at 202-285-0244, email@example.com