Top global tax officials will meet on Panama Papers

A group of the world’s top tax officials will meet next week in Paris to delve into the details of the Panama Papers and determine how they can better combat tax avoidance. 

The Organization for Economic Cooperation and Development (OECD) said Friday that government officials from around the globe have called for a special project meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) Network to discuss cooperative efforts that include sharing information and agree on action.

{mosads}”As a network of tax administrations, committed to sharing intelligence and working together to tackle common risks, the JITSIC Network is well placed to take on this challenge,” the OECD said in the announcement. 

The meeting give the tax officials their first chance to probe the more than 11 millions documents released earlier this week.

The documents involve 210,000 companies in 21 offshore jurisdictions, according to OECD.

The groups of tax administration officials is responsible for responding to global compliance risks through active collaboration and fast and effective information exchange with other tax administrations. 

In the fall, OECD put out international tax recommendations that the Treasury Department said it would implement.