Prosperity Institute to Form Task Force on Information Exchange and Financial Privacy
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Alexandria, VA: The Prosperity Institute today announced the formation of a Task Force on Information Exchange and Financial Privacy. "This task force is being formed to develop workable, balanced solutions that respect financial privacy rights and meet the legitimate needs of tax administration and law enforcement," said former U.S. Senator Mack Mattingly, Chairman of the Task Force.
"Governments throughout the world are becoming more intrusive and according less respect to the financial privacy rights of individuals. The anti-tax competition initiative of the Organization for Economic Cooperation and Development and the recent United Nations proposal for an International Tax Organization are two examples of this kind of overreaching. The recent IRS regulations on qualified intermediaries and interest reporting regulations raise similar concerns," said David Burton, CEO of the Prosperity Institute and Executive Director of the Task Force.
The Chairman of the Task Force is former U.S. Senator Mack Mattingly. Jack Kemp and Edwin Meese are Senior Advisors to the Task Force. The Task Force will be composed of economists, attorneys and policy analysts from a wide variety of backgrounds, including those with law enforcement and tax expertise.
The Task Force will develop detailed policy recommendations. The Task Force anticipates that the first of its recommendations should be available by the end of the summer.
"The Task Force will look for ways to ensure cooperation in the international fight against crime while remaining respectful of due process legal protections and recognizing that nations generally should be able to determine their own tax and privacy laws," said former U.S. Attorney General Edwin Meese, a senior advisor to the Task Force.
The Prosperity Institute is an Alexandria, Virginia based not-for-profit public policy research institution.
Task Force on Information Exchange and Financial Privacy Membership
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