Global alliance forms to stamp out tax crime and money laundering

3 Jul 18

Tax enforcement bodies from five countries across the world have joined forces to battle against international tax crime and money laundering.

The UK, Canada, the Netherlands, the US and Australia have launched the Joint Chiefs of Global Tax Enforcement (J5), which will be used as a platform to share intelligence and expertise and work together to crackdown on tax crime.

This follows the OECD’s call for stronger action to tackle tax crime and money laundering, last year.

Margaret Hodge, chair of the UK All-Parliamentary Party Group on Responsible Tax, told PF International that she welcomed the initiative.

“Any cooperation between countries to tackle tax crime and end the flow of dirty money around the world is a good thing,” she said.

Simon York, director at the HMRC Fraud Investigation Service, said: “Tax crime and money laundering are becoming increasingly global and sophisticated, so it’s crucial we continue to work with international partners to tackle these threats.

“Working together, we are broadening the horizon of tax crime enforcement, making the world smaller for those seeking to exploit our systems and ensuring no one is beyond our reach.”

Since 2010, the HMRC has secured more than £2.8bn from offshore tax evaders.

Johanne Charbonneau, director general of the Canada Revenue Agency, said: “The formation of the J5 demonstrates the serious commitment of governments around the globe in enhancing international cooperation in fighting serious international tax and financial crimes, money laundering, and cybercrime through the use of cryptocurrencies.”

Any positive outcomes and new approaches carried out by the operation will be shared with other international partners to develop a global understanding of offshore crime.

Membership of the J5 includes the heads of tax crime and senior officials from the Australian Criminal Intelligence Commission and Australian Taxation Office, Canada Revenue Agency, Dutch Fiscal Information and Investigation Service, HMRC, and US’s Internal Revenue Service Criminal Investigation.

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