U.S., UK, Canada and Australia Form Task to Combat Abusive Tax Shelters

During the weekend of April 23, 2004, the United States, the United Kingdom, Australia, and Canada announced they are planning the creation of a Joint International Tax Shelter Information Centre (JITSIC), an international task force to combat abusive tax avoidance schemes. Tax officials from the four countries met in Williamsburg, Virginia planning the development of a task force to combat battle tax-avoidance schemes. Operations for the task force, staffed jointly between the four countries, could be established in New York as soon as this summer as a part of a broader plan to combat tax avoidance promoters and encourage cooperation and information sharing between the nations...[more]