The Economist Quotes Mark Matthews on Campaign Against Tax Cheats
The Economist quoted Mark E. Matthews concerning the use of the Foreign Account Tax Compliance Act (FATCA) in the international fight against tax evasion. The article also highlights the law's controversial elements such as, its complexity, high cost of compliance, and the burden it places on the IRS. For the complete article, please visit The Economist's website (subscription required).
Excerpt taken from the article.
Mark Matthews, a former deputy commissioner of the IRS now with Caplin & Drysdale, another law firm, argues that the effort put into hunting offshore tax evaders is disproportionate: the sums they rob from the public purse "look like a pinprick" compared with other types of tax dodging, such as the under-declaration of income by small businesses.