U.S., U.K., Australia Teaming Up to Battle Offshore Tax Evasion, IRS Announces

For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

The United States, Australia, and the United Kingdom have teamed up to fight cross-border tax evasion, the Internal Revenue Service said May 9.
The three countries will share information involving a multitude of trusts and companies hiding assets on behalf of residents in jurisdictions throughout the world, IRS said in the news release (IR-2013-48). That information may also be shared with other nations, the agency said.
The development marks a major milestone in the continuing efforts of the United States to work with other countries to stop tax cheats.
 For full access to this article, please register for a free trial to Daily Tax Report®.

Request Daily Tax Report