OECD Member Countries will Discuss ‘Joint Action’ Over Panama Papers Leaks

OECD Member Countries will Discuss ‘Joint Action’ Over Panama Papers Leaks

On Wednesday, Australian officials said, tax officials from Organization for Economic Co-operation and Development (OECD) countries will discuss different ways in which governments can analyze the data that were leaked through the Panama Papers.

The Panamanian tax shelters were born a long time ago and have provided many rich and famous to stack their money illegally to avoid taxes and also hide capital that came from illicit sources. Governments globally have launched probes into likely financial misconduct after details surfaced about hundreds of thousands of documents regarding clients' tax affair that were leaked from Mossack Fonseca, the Panama based law firm.

On Wednesday, lead by Chris Jordan, Australian Tax Office Commissioner, the Organization for Economic Co-operation and Development's Joint International Tax Shelter Information and Collaboration (JITSIC) network will bring senior tax administration officials from forty six countries together at the Paris meeting.
A spokesman of ATO said, "The meeting will consider how member jurisdictions can share information on leaked documents, and collaborate on analyzing the data and opportunities for joint action. A key outcome of Wednesday's meeting will be to develop a joint and coordinated response, including a commitment to collaborate and share data, analytical methodologies and future joint compliance action."


Popular Stories

Dr. Mark Wainberg dies after struggling in waters off Bal Harbour, Fla.

Famed microbiologist Dr. Mark Wainberg, who played... Read More

Microsoft patches NSA’s leaked Windows hacks

Microsoft Corp. has claimed that it has already... Read More

Las Vegas to offer clean needles through vending machines

Struggling to fight back soaring heroin and HIV... Read More

Nintendo announces new games for Switch

During the most recent Nintendo Direct, the mobile... Read More

Decomposed bat found inside package of salad: officials confirm

Fresh Express is recalling a limited number of... Read More

Future Google Pixel phones may feature curved screens

Tech giant Google Inc. has plans to introduce a... Read More