Business

Australia, US and UK band together in hunt for tax havens

THE Australian Tax Office will work with the US and Britain to target tax dodgers after a massive cache of bank account data from tax havens was leaked to authorities.

The three nations are sharing the huge trove of data on accounts in Singapore, the British Virgin Islands, the Cayman Islands and the Cook Islands.

The information came from a leaked 400-gigabyte cache of data of more than two million documents.

It shows the activities of trusts and companies in the four countries, each of which hosts a substantial tax-free offshore banking industry offering secrecy to account holders.

The ATO says it has discovered 100 Australian names within the data and two cases have already been referred for criminal investigation.

Read more at ABC news online.

Topics:  ato, tax




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