The Joint Chiefs of Global Tax Enforcement start knocking on Australian doors

Who are the Joint Chiefs of Global Tax Enforcement (J5)?

The J5 is a global joint operational group comprised of tax enforcement authorities from Australia, the U.K., the U.S., Canada and the Netherlands. These authorities work together to combat transnational tax crime and money laundering.

Since formation in 2018, the J5 has made significant progress in conducting investigations, sharing information concerning sophisticated international enablers of tax evasion, and building the capability of law enforcement officials.

The J5 has recently conducted its first major global operation, demonstrating that it has created a solid foundation to effectively tighten the net on those who break tax laws worldwide.

 

J5 conducts unprecedented global operation

In January 2020, the J5 coordinated a multi-country day of action to tackle international tax evasion across all member countries.

The action occurred as part of a series of global investigations into a Central American financial institution believed to be facilitating international money laundering and tax evasion.

The operation involved the use of search warrants, interviews and subpoenas to gather evidence and intelligence, and it is expected that further legal action will arise in each country as a result.

The ATO, supported by the ACIC, has already commenced investigations into Australian-based clients of this institution who are suspected to have undeclared income.

“Never before have criminals been at such risk of being detected as they are now. Our increased collaboration, data analytics and intelligence sharing mean there is no place worldwide you can hide your money to avoid contributing your obligations,” said ATO Deputy Commissioner and Australia’s J5 Chief, Will Day.

This operation is a perfect example of the power of effective international cooperation. The investigation started based on information obtained by the Netherlands, and now tax criminals around the world are being brought to justice through the sharing of information and collaboration between the J5 members.

Nyman Gibson Miralis provides expert advice and representation in complex cases involving international tax evasion and money laundering.

Contact us if you require assistance.