I am completely convinced that the phrase “international tax gap” is a marketing device coined by certain members of the Fedborg with specific intentions in mind.
But I digress.
The Treasury Inspector General for Tax Administration is an arm of the Treasury Department that investigates stuff and writes about it. Yesterday TIGTA released a report on the international tax gap. No surprise here. A regulatory and enforcement unit of the U.S. government suggests more legislation and enforcement.
For those of you doing international business transactions, here are the takeaways: