The OECD has published a statement by Bob Hamilton, chair of the Forum on Tax Administration (FTA) and Chris Jordan, chair of the FTA’s Joint International Task Force on Shared Intelligence and Co-operation (JITSIC), on the recent leaking of the Pandora Papers. According to the statement, the FTA, given its relationships established through the JITSIC, is able to establish a collaborative approach to ‘identifying and addressing aggressive tax avoidance and tax evasion involving multiple jurisdictions once the data becomes available’.
The OECD states that its FTA has access to ‘a range of tools and platforms’ to help it combat offshore tax evasion and avoidance, including:
the FTA's JITSIC network, which enables its 42 members to co-operate directly on individual cases, as well as sharing their experience, resources and expertise;
the OECD standard on the exchange of information on request, which provides a framework for tax administrations to receive detailed information on taxpayers' offshore affairs from 163 jurisdictions; and
the OECD common reporting standard, which provides automatic reporting of information between more than 100 jurisdictions on the offshore financial accounts of non-residents to their jurisdiction of residence.
The OECD has published a statement by Bob Hamilton, chair of the Forum on Tax Administration (FTA) and Chris Jordan, chair of the FTA’s Joint International Task Force on Shared Intelligence and Co-operation (JITSIC), on the recent leaking of the Pandora Papers. According to the statement, the FTA, given its relationships established through the JITSIC, is able to establish a collaborative approach to ‘identifying and addressing aggressive tax avoidance and tax evasion involving multiple jurisdictions once the data becomes available’.
The OECD states that its FTA has access to ‘a range of tools and platforms’ to help it combat offshore tax evasion and avoidance, including:
the FTA's JITSIC network, which enables its 42 members to co-operate directly on individual cases, as well as sharing their experience, resources and expertise;
the OECD standard on the exchange of information on request, which provides a framework for tax administrations to receive detailed information on taxpayers' offshore affairs from 163 jurisdictions; and
the OECD common reporting standard, which provides automatic reporting of information between more than 100 jurisdictions on the offshore financial accounts of non-residents to their jurisdiction of residence.
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