The ATO has announced that the leaders of tax enforcement authorities from Australia, Canada, the Netherlands, the United Kingdom and the United States have established a joint operational alliance, the Joint Chiefs of Global Tax Enforcement (J5), to increase collaboration in the fight against international and transnational tax crime and money laundering. The focus areas of the J5 will be cybercrime and virtual currencies, enablers of offshore tax crime, and data platforms.
This is yet another example of the ATO’s commitment over the past few years to combat global tax avoidance.
Updates on J5 initiatives are expected in late 2018. More information on the J5 is available on the IRS website.