Tax authorities in the UK, the USA, Canada, Australia and the Netherlands have joined forces to launch the Joint Chiefs of Global Tax Enforcement, or “J5” alliance against transnational tax crime and money laundering.
The coalition, formed in response to a call to action from the Organisation for Economic Cooperation and Development (OECD) for countries to do more to tackle the enablers of tax crime, will pool intelligence, expertise and resources, as well as conducting joint investigations and programmes.
The J5 has stated its initial priorities as tackling professional enablers facilitating offshore tax crime, cybercrime and the threat of cryptocurrencies to tax administrations. It has also identified offshore structures and financial instruments as potential tools of tax crime and money laundering, and therefore as topics of particular interest for the alliance.
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