Business IFC reports that Dave Hartnett has aspirations for powers for national tax authorities to access data directly on their taxpayers' assets in other jurisdictions.
"I see automatic exchange of information as the benchmark. That is the position which I would like to reach as standard."
Doubtless the "if you are innocent, you have nothing to hide" retort will be used by some.
However, granting governments and their bureaucrats the right to such unlimited access to people's private lives gives these governments (and their bureaucrats) quite some considerable power over the individual.
Are we really able to trust these governments and their bureaucrats not to misuse this power?
Tax does have to be taxing.
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RE "Are we really able to trust these governments and their bureaucrats not to misuse this power?"
ReplyDeleteNo.
Whereas those rich enough to make use significant of offshore-tax havens, of course, can ALWAYS be trusted to do the best thing for society!
ReplyDeletePrivacy and secrecy are not the same.