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The CRA has joined tax enforcement authorities from the U.S., U.K., Australia and the Netherlands to fight international and transnational tax crime and money laundering, the tax agency said Tuesday.

The Joint Chiefs of Global Tax Enforcement (J5), which met for the first time in late June, will improve international enforcement by sharing information and intelligence, piloting new approaches and conducting joint operations against offshore tax crime, a CRA release says.

Read: Canada missing up to $3 billion in individual offshore income: CRA

“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,” says Johanne Charbonneau, director general at the CRA, in a release.

Experts in tax investigations, financial crime, cybercrime and big data from the member countries met to develop tactical plans as a way “to pursue cyber criminals and enablers of transnational tax crime,” the release says. The members will share data and technology, and dedicate one full-time resource to the group, it adds.

The member countries will communicate through quarterly conference calls.

Read: Your client’s tax return is being reviewed—now what?

Originally published on Advisor.ca
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