RegulationCorporate GovernanceTax avoidance body gets London base

Tax avoidance body gets London base

JITSIC sets up second office, in the UK, much to the delight of the government and taxman

A global body set up to share resources on tax avoidance has set up an office
in London.

The Joint International Tax Shelter Information Centre (JITSIC) already has a
base in Washington, with the London office its second site.

The body helps to pool the research of tax authorities in Australia, Canada,
the UK, US and now Japan.

Financial secretary to the Treasury Jane Kennedy said: ‘I’m delighted that
London has been chosen as JITSIC’s second home. Countries need to work together
in order to stamp out tax avoidance, which deprives public services of vital
resources. Tax avoidance gives those who seek to cheat the system an unfair
advantage over the vast majority of taxpayers who play by the rules. JITSIC has
already proved very effective in combating tax avoidance and its new centre in
London will help us further build on that work.’

HMRC director general Dave Hartnett said: ‘The selection of London as the
second base for JITSIC’s work is very good news – not only for the UK – but for
every country committed to fairness and transparency in their tax systems.
JITSIC is already rising to the challenges posed by international tax avoidance
in its increasingly cunning and complex forms. The understanding gained and
exchanged will materially benefit every taxpayer who prefers to play by the
rules.’

Further reading:

Read
the government press release

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