Because it is hard to track. For example you have say Turkish made clothes being sold into the EU. It would be extremely easy to set up a company in say Switzerland, which owns the brand rights for those clothes and makes all the money. Turkey is not part of the EU and not a tax heaven. At the same time the product is made in it and they do not have to disclose any relations of their companies.
So to do it properly, you would have to get nearly all countries in the world involved in it.
These loopholes like moving IP somewhere else and licencing it back were specificially created to enable tax evasion. They can be closed again just as easily. The reason the governments aren’t doing it is because the ultra rich don’t want it to be done.
Banks already collect information on ownership structure and primary sources of revenue and expenses as part of KYC responsibility. This could be leveraged here I guess?
Because it is hard to track. For example you have say Turkish made clothes being sold into the EU. It would be extremely easy to set up a company in say Switzerland, which owns the brand rights for those clothes and makes all the money. Turkey is not part of the EU and not a tax heaven. At the same time the product is made in it and they do not have to disclose any relations of their companies.
So to do it properly, you would have to get nearly all countries in the world involved in it.
These loopholes like moving IP somewhere else and licencing it back were specificially created to enable tax evasion. They can be closed again just as easily. The reason the governments aren’t doing it is because the ultra rich don’t want it to be done.
Banks already collect information on ownership structure and primary sources of revenue and expenses as part of KYC responsibility. This could be leveraged here I guess?