Day: November 9, 2017

OECD FORUM ON TAX AND CRIME HELD IN LONDON

NEW OECD PUBLICATION (1) – FIGHTING TAX CRIME: THE TEN GLOBAL PRINCIPLES

NEW OECD PUBLICATION (2) – EFFECTIVE INTER-AGENCY CO-OPERATION IN FIGHTING TAX CRIMES AND OTHER FINANCIAL CRIMES – 3^rd EDITION

More than 200 tax crime and economic crime experts attended the 5^th OECD Forum on Tax and Crime on 7^th and 8^th November, where they discussed ways to tackle these tax and economic crimes more effectively.

The Forum identified 5 priorities for action –

• Ensure that professional enablers play their part in tackling tax crime;
• Step-up the level of international and cross government co-operation to build a comprehensive and global response to tax crime, drawing on a report launched at the Forum

http://www.oecd.org/tax/crime/effective-inter-agency-co-operation-in-fighting-tax-crimes-and-other-financial-crimes.htm

• Learn the lessons from around the world about how best to respond to tax crime by implementing the OECD 10 Global Principles, which were also launched at the Forum (see below)

http://www.oecd.org/tax/crime/fighting-tax-crime-the-ten-global-principles.htm

• Strengthen the ability to collaborate globally and by building capacity to share intelligence and data quickly and securely
• Build capacity in all countries – including developing countries – to combat financial crimes so that there can be no hiding place for tax criminals. Refers to the OECD International Academy for Tax Crime Investigation, which is intended to improve the ability of developing countries to detect and investigate financial crimes, and recover the proceeds of those crimes, by developing the skills of tax and financial crime investigators through intensive training courses.

http://www.oecd.org/ctp/crime/tax-crime-academy.htm

Closing statement from HMRC and OEC

http://www.oecd.org/tax/crime/closing-statement-oecd-forum-on-tax-and-crime-november-2017.pdf

OECD news release

http://www.oecd.org/tax/strengthening-the-global-response-to-tax-crime.htm

The OECD 10 Global Principles

Principle 1.        Ensure Tax Offences are Criminalised

Principle 2.        Devise an Effective Strategy for Addressing Tax Crimes

Principle 3.        Have Adequate Investigative Powers

Principle 4.        Have Effective Powers to Freeze, Seize and Confiscate Assets

Principle 5.        Put in Place an Organisational Structure with Defined                    Responsibilities

Principle 6.        Provide Adequate Resources for Tax Crime Investigation

Principle 7.        Make Tax Crimes a Predicate Offence for Money Laundering

Principle 8.        Have an Effective Framework for Domestic Inter-Agency Co-operation

Principle 9.        Ensure International Co-operation Mechanisms are Available

Principle 10.      Protect Suspects’ Rights

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On 9^th November, Politico reports that MEPs on the Panama Papers inquiry committee released a 121-page report on 8th November summarising findings and recommendations, to be voted on in the EU Parliament later in November.  The findings start on page 13 (and continue to page 43…).

https://www.politico.eu/wp-content/uploads/2017/11/2017-11-08-PANA-Final-Report-002.pdf?utm_source=POLITICO.EU&utm_campaign=5ecda84209-EMAIL_CAMPAIGN_2017_11_09&utm_medium=email&utm_term=0_10959edeb5-5ecda84209-190081609

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