Voluntary Disclosure Programs — Design, Principles, and Implementation Considerations

Author: Ms. Dora Benedek, Martin Grote, Ms. Grace Jackson, Maksym Markevych, Mr. Christophe J Waerzeggers, and Ms. Lydia E Sofrona

This note explores considerations for a successful voluntary disclosure program (VDP), including issues around anti–money laundering/combating the financing of terrorism.

Volume/Issue: Volume 2022 Issue 002

Publication date: April 2022

ISBN: 9798400206184

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Topics covered in this book

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Exports and Imports , Public Finance , Taxation - General , International Taxation , Tax Evasion , Tax Policy Design , Tax Revenues , Illegal Behavior , anti–money laundering , combating the financing of terrorism , AML/CFT , tax policy Design , VDP adjudication unit , offshore Voluntary Disclosure Program , A , Elements of VDPS , IMF manaqement , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Flat tax , Tax administration core functions , Tax evasion , Foreign assets , Global

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Summary

This note explores the conditions, design elements, and implementation considerations of a successful voluntary disclosure program (VDP), including its compliance with anti–money laundering/combating the financing of terrorism (AML/CFT) international standards. The note emphasizes that such a program must be offered in the context of a considerably strengthened and credible enforcement capacity—one that is explicitly publicized to taxpayers—to avoid undermining tax morale.