GARCÍA ESTER MACHANCOSES

The article highlights the progress of international taxation in the fight against the concealment of income in offshore jurisdictions and exposes the lights and shadows of the current legal framework for the exchange of information on bank accounts. The author examines the major problems of international taxation and how corporations avoid paying taxes in their jurisdictions and how it affects the financial sphere. The article studies bank secrecy with its harmful aspects and develops the solution to resolve the current issues. As a conclusion, the author focuses on cooperation between tax administrations and the positive outcomes from transparency and information exchange measures on the international taxation.