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Tax Administrations Discuss Panama Papers Response

by Mike Godfrey, Tax-News.com, Washington

15 April 2016


Tax administration officials from countries worldwide discussed co-operation, information-sharing, and opportunities for obtaining data at a meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) Network on April 13, 2016.

The meeting, which took place at the headquarters of the Organisation for Cooperation and Development (OECD) in Paris, was held in response to the "Panama Papers" revelations, according to an OECD statement.

Participants from a number of countries – including members of the OECD and the G20 – exchanged views on the Panama Papers and explored mechanisms for co-operation.

Representatives from tax administrations committed to follow up on the meeting and consider changes within their own domestic laws and regulations, and also to existing information-sharing agreements with other countries, the OECD said.

The JITSIC is a group of tax officials who exchange views, information, and practices at an operational level. It is a network of the OECD Forum on Tax Administration.

TAGS: individuals | compliance | tax | tax compliance | tax avoidance | law | international financial centres (IFC) | Organisation for Economic Co-operation and Development (OECD) | offshore | agreements | G20 | Panama | Tax | Tax Evasion

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