New Group Formed to Fight Modern Tax Dodging

July 5, 2018 International Tax Cooperation

J5 tax evasionWASHINGTON D.C. – The IRS, along with 6 other tax agencies, are forming a new multinational investigative group aimed at fighting modern international tax evasion.

Earlier this week the US Internal Revenue Service announced the formation of a new collaborative international team aimed at stamping out tax evasion, money laundering and tax crime.

The new group, called the J5, will be made up of the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Fiscale Inlichtingen- en Opsporingsdienst (FIOD), HM Revenue & Customs (HMRC), and Internal Revenue Service Criminal Investigation (IRS-CI).

The J5 will aim to conduct investigations on the methodologies and perpetrators of on transnational tax offenses around the world.

In particular, the IRS statement noted the prevalence of cybercrime and cryptocurrencies, and stated that the group will aim to “…make the most of data and technology”.

The J5 is expected to work collaboratively on the investigation and prevention of tax crimes, and it is expected to be a thought leader on the development and implementation of new strategies to fight tax crime.