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HMRC have announced that the Commissioners of the Australian, Canadian, UK and US tax administrations have decided to open a second Joint International Tax Shelter Information Centre (JITSIC).

The new centre will be opened in London in Autumn 2007.

JITSIC was established in 2004 by the tax administrations of Australia, Canada, the United Kingdom and the United States, to supplement the ongoing work of the Australian Taxation Office, the Canada Revenue Agency, HM Revenue & Customs, and the Internal Revenue Service in identifying and curbing tax avoidance and shelters, and those who promote them and invest in them.

To date, delegates from each of the four countries have been based in Washington DC, and exchange information on abusive tax schemes, their promoters and investors, consistent with the provisions of bilateral tax conventions.

Japan has accepted an invitation to join JITSIC, and a representative of the National Tax Agency will be present at the London centre.

The Commissioners have also made plans for the future development of JITSIC, along with a measured expansion to cover North America, Europe and Asia - broadening the focus of its activities, further sharing best practice on risk assessment and other key areas of interest, and particularly increasing the transparency of cross-border transactions in order to create a level playing field for taxpayers who are voluntarily compliant.

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HMRC: Expansion of Joint International Tax Shelter Information Centre - JITSIC