(January 29, 2015) 

On January 29, 2015 the Inland Revenue Service issued a press release announcing that from January 27 through January 29, 2015 the Internal Revenue Service Criminal Investigation Division (IRS-CI) and Her Majesty’s Revenue & Customs (HMRC) co-hosted a three-day International Criminal Tax Symposium in Washington, D.C. According to the press release, the symposium focused on combating offshore tax evasion and international financial crimes — including cyber-crime — and brought together delegates from criminal tax and enforcement programs from Australia, Canada, The Netherlands, Norway, New Zealand, the United Kingdom and the United States.

Recognizing the increasing trends in sophisticated tax evasion and other financial crimes crossing international borders, the symposium participants discussed best practices and methods of effective investigations as well as other strategies to combat emerging issues. The delegates focused on four key areas, including combating beneficial ownerships and the use of shell companies, transnational organized crime, combating offshore tax evasion and refund crimes and repayment fraud.

Combating international financial crimes is a top priority for all of the participating countries and each actively pursues offshore tax evaders, promoters and financial institutions involved in hiding income and assets offshore. Currently, many countries coordinate through international and interagency task forces, exchange of information methods, joint investigations and other formal and informal methods of international cooperation. The symposium delegates discussed further enhancements to this international collaboration moving forward.

For further information click here to be forwarded to the press release as published on the website of the Inland Revenue Service, which will open in a new window.

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