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  • Paradise Papers and the ATO

    Last Monday, the International Consortium of Investigative Journalists (ICIJ) reported on an overseas law firm.

    We have known for some time about the ICIJ’s intention to release this information. This allowed us to undertake an initial analysis to assess and identify risks associated with the data.

    Our work is ongoing and we will continue collaboration with domestic and international partners to refine our preliminary understanding of this latest release of data.

    Although the information is helpful, data leaks are just one of the many sources of information we use to detect and prosecute offshore tax evasion and illegal tax behaviour.

    Our partnerships and information sharing with international and domestic agencies is shrinking the number of places tax evaders can hide their criminal behaviour.

    With every data leak, large or small, our expertise in analysing and acting on the data is strengthened. Our work and effort on behalf of the community pays off. To date, our work on the Panama Papers has resulted in more than $50 million in liabilities raised and omitted income associated with additional disclosures in excess of more than $40 million.

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      Last modified: 13 Nov 2017QC 53909