Multilateral Information Sharing or Withholding; International Cooperation
The European Union Directive, which would require information reporting (or withholding), is
one example of a multilateral approach to information reporting. Avi-Yonah and Avi-Yonah and
Guttentag have suggested that current Treasury policy is to focus on bilateral agreements to achieve information exchange, but that the United States should also focus on cooperation with
the OECD and G-20 and other appropriate organizations to improve information and persuade tax
havens to enter into exchanges based on the OECD model. Shay suggests this approach as well
and particularly references electronic information exchange.
The Tax Justice Network has proposed that the United Nations develop a global tax cooperation
standard, set up a panel to determine compliant states, and deny recognition to non-compliant
jurisdictions. They have also suggested that the IMF and World Bank country assessments
address tax compliance.