This content is from: Direct Tax

JITSIC to convene in response to 'Panama Papers'

The OECD will convene a meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) network on April 13 to "agree collaborative action" in light of the 'Panama Papers' revelations.

Senior tax officials from around the world will descend upon Paris on Wednesday 13 April to attend the JITSIC meeting.

Given that the 11.5 million documents that make up the 'Panama Papers' reveal transactions involving multiple entities in multiple jurisdictions, tax administration officials are keen to explore ways in which their response to the revelations can be coordinated. 

The OECD describes the JITSIC convention as a special project meeting "to explore possibilities of cooperation and information-sharing, identify tax compliance risks and agree collaborative action".

More to follow...

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