Due Diligence in International Tax Law

Authors

Reuven S. Avi-Yonah, University of Michigan Law SchoolFollow
Gianluca MazzoniFollow

Document Type

Book Chapter

Publication Date

2021

Abstract

This chapter describes how the due diligence standard was developed in international tax law before 2008, and then how the standard was greatly modified after the financial crisis, the enactment of the Foreign Account Tax Compliance Act of 2010 (FATCA), and the subsequent development of the Common Reporting Standards (CRS). The chapter outlines how the due diligence concept is applied to private actors, especially financial institutions, to prevent tax evasion. It ends with some conclusions including that while due diligence in international tax law is currently embodied in a specific set of rules, there remains an absence of an overarching standard of due diligence, so that the overall efficiency of the rules requiring due diligence is weakened.

Comments

Reproduced by permission of Oxford University Press.

Publication Information & Recommended Citation

Avi-Yonah, Reuven S. and Gianluca Mazzoni. "Due Diligence in International Tax Law." In Due Diligence in International Tax Legal Order, edited by Heike Krieger, Anne Peters, and Leonhard Kreuzer. Oxford: Oxford University Press, 2021.