In my January 2015 column, I said that 2014 was the year of the “tipping point” for transparency, which I expected to continue into 2015. I was right. In 2015, we saw transparency spread everywhere. Clients who want to hide money have a dwindling number of jurisdictions that are willing to help out.
The United States pushed transparency over the tipping point in 2014. With a combination of the surprising success of the Foreign Account Tax Compliance Act (FATCA) and the e