(September 18, 2015)

On September 17, 2015 on its website the OECD published a report titled: “Improving Co-operation Between Tax and Anti-Money Laundering Authorities - ACCESS BY TAX ADMINISTRATIONS TO INFORMATION HELD BY FINANCIAL INTELLIGENCE UNIT FOR CRIMINAL AND CIVIL PURPOSES”. The report was published in relation to the 4th OECD Forum on Tax and Crime which took place in Amsterdam on  September 16 & 17, 2015.

According to a press release issued by the OECD with respect to the release of the report, the report uses survey data to analyse the levels of co-operation between the authorities combatting serious financial crimes such as tax crimes, bribery corruption, money laundering and terrorism financing. More specifically, it assesses various models for the sharing of Suspicious Transaction Reports (STRs) by the Financial Intelligence Unit (FIU) with the tax administration, both for criminal and civil purposes. It finds that there are significant potential benefits from greater co-operation, with each authority pooling their knowledge and skills.

The report discussed a.o. the following subjects:

·        Work of the OECD Task Force on Tax Crimes and Other Crimes (TFTC)

·        Benefits of FIUs sharing STRs with tax administrations

·        Models of tax administration access to STRs

·        Uses of STRs

·        Protecting confidentiality and data security

·        Removing barriers to access

·        Maximising effectiveness in the use of STRs

·        Conclusions

·        Recommendations and possible future steps

·        Other related OECD resources and assistance

The report recommends that subject to the necessary safeguards, tax administrations should have the fullest possible access to the STRs received by the FIU in their jurisdiction.

Click here to be forwarded to the report as available on the website of the OECD.

Next to the report, the OECD also published a Closing Statement by the Netherlands, as host, and the OECD with respect to the 4th OECD Forum on Tax and Crime. Click here to be forwarded to this Closing Statement as available on the website of the OECD.

Copyright – internationaltaxplaza.info

Stay informed: Subscribe to International Tax Plaza’s Newsletter!

and

Follow International Tax Plaza on Twitter (@IntTaxPlaza)