JITSIC expands

In 2004, Australia, Canadian, UK and USA, formed the Joint Information Tax Shelter Information Centre, a collaborative resource designed to combat abusive tax schemes, their promoters and investors, and to exchange information between the respective taxing authorities. The centre has been situated in Washington, DC.

It has been announced that the remit of the JITSIC will be expanded to cover other areas of cross border tax leakage, and will also now include the Japanese National Tax Agency.

A second centre of JITSIC is to be opened in London, no doubt presenting some useful non-dom planning opportunities for its secondees.