Four countries establish tax transaction task force.

It was recently announced that the Tax Commissioners of Canada, Australia, the United Kingdom and the United States have established a joint task force to increase collaboration and coordinate information about abusive tax transactions by signing a Memorandum of Understanding. Although the tax

administrations operate primarily within their own borders, many abusive tax transactions use cross-border strategies and the perpetrators work globally. The joint task force will help the tax administrations address the challenges arising from abusive tax transactions. The task force will make it easier for the countries to share expertise, best practices and general information.

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For more information visit www.fin.gc.ca.