International Task Force to Fight Applying Cryptocurrencies in Tax Crimes
July 5, 2018
On July 2 the US the Internal Revenue Service declared forming a joint task group to include representatives of tax agencies from five countries. The group is to fight international tax crimes including those involving cryptocurrencies.
The group was named Joint Chiefs of Global Tax Enforcement (J5) and joined efforts of tax authority representatives from the UK, the US, Canada, Australia and the Netherlands. It was established by request of the Organization for Economic Co-operation and Development (OECD) which claimed the necessity in more decisive actions against tax crimes. Cryptocurrencies won’t be left unnoticed by the group as well.
“The unique thing about the J5 is the operational collaboration between five countries on tackling professional enablers that facilitate offshore tax crime, cybercrime and the threat of cryptocurrencies to tax administrations, as well as making best use of internationally available data and technology”, stated the director general of Dutch Fiscal Information and Investigation Service Hans van der Vlist.
General director of the Canada Revenue Agency Johanne Charbonneau added, the J5 is strictly committed to international collaboration against tax violations and cyber crimes involving cryptocurrencies. The group is supposed to report on the first results at the turn of this year.