Professional Documents
Culture Documents
1 ACCESS TO BANK
INFORMATION FOR EOI
PURPOSES
EOI SeminarJakarta November 2012
1
Bank secrecy
Legitimate for ordinary third parties
2
Adverse implications of bank secrecy
3
Conditions for access to bank information by tax administrators
4
Exchange of bank information under Tax Treaties
5
Exchange of bank information under
Tax Treaties
Article 26(5) overrides paragraph 3 of the same
article to the extent that paragraph 3 would
otherwise permit a requested Party to decline to
supply information on the grounds of bank
secrecy.
Article 26(5) also provides that an information
request cannot be declined solely because the
information is held by persons acting in an
agency or fiduciary capacity.
6
Exchange of bank information
under Tax Treaties
The international standard for exchange of information
requires the requested country to provide bank
information as provided in Article 26(5) of the OECD
Model
Global Forum Peer Reviews
A.3 Banking information should be available for all
accountholders
B.1.1 Competent authorities should have the power to
obtain and provide information held by banks
C.1.2 Exchange of information mechanisms should
provide for effective exchange of information and
should not permit the requested jurisdiction to
decline to supply information solely because the
information is held by a financial institution 7
Exchange of bank information under
Mutual Legal Assistance Treaties
9
Country practices: Summons
procedures in the United States
10
Summons procedures in the
United States
11
John Doe Summons
12
John Doe summons
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Some countries have a data base of bank
accounts
France FICOBA (Fichier Informatis des
Comptes Bancaires):
Data base of all bank accounts opened and closed in
France
Access granted to tax authorities, judicial authorities
Information only on opening and closing of accounts
FICOBA does not include information on the
transactions that take place on the accounts
The tax auditors have to request information on
transactions to the banks
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Some countries have a data base of
bank accounts
Spain
Tax authority receives information returns yearly
from banks that reports for all account holders
Information returns contain the name of
accountholder, account number, tax identification
number, and account balance
The tax auditors have to request information on
transactions and any other information to the
banks
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