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IMF Guides On Taxing Wealthy Taxpayers

by Ulrika Lomas, Tax-News.com, Brussels

09 May 2017


The International Monetary Fund has published guidance on how tax authorities can implement effective programs to ensure tax compliance by high-wealth individuals.

The technical note addresses: the characteristics of HWIs; why they are of interest to tax administrations; and how to establish a High-Wealth Individual Compliance Program (HWICP). It also considers whether the Compliance Risk Management (CRM) model can be used as a basis for a HWICP.

The report points out that in 2015 an estimated 34 million HWIs worldwide had accumulated wealth of at least USD1m each. These individuals comprise just 0.7 percent of the world's population but control 45 percent of the world's wealth.

TAGS: individuals | compliance | Wealth | tax | interest | International Monetary Fund (IMF) | Compliance

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