Recent reports have suggested that the governments of the United States, United Kingdom, Canada and Australia are close to setting up a new international task force designed to facilitate cooperation in the fight against tax evasion.
According to Reuters, officials from the tax departments of the four nations held meetings in the state of Virginia last week, and have provisionally agreed to establish the new body in New York as early as the summer of 2004.
It is anticipated that government ministers will formally announce the decision sometime this week.
The taskforce will employ officials from all four countries, and will create an internet-based information portal designed to keep track of the latest avoidance schemes and shell companies.
The new institution’s top priorities will be to identify users and firms behind tax schemes; to assist in the sharing of international expertise and cross border enforcement; and to monitor industry developments.
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