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  • How we're closing the net on offshore tax evasion

    This infographic provides more information on how we're closing the net on offshore tax evasion (PDF 914KB)This link will download a file.

    What is offshore tax evasion?

    Offshore tax evasion is a crime committed when a person deliberately evades paying tax by holding money and assets offshore.

    Our role at the ATO is to identify and catch these individuals.

    A global approach that gets results

    Using sophisticated tools and a highly collaborative approach to information sharing, the ATO works with domestic and international partners to manage offshore tax evasion risks and deter those considering getting involved in tax evasion schemes.

    Our international partners:

    • The Joint Chiefs of Global Tax Enforcement – Australia, Netherlands, UK, US, Canada
    • The Organisation for Economic Co-operation and Development
    • Joint International Taskforce on Shared Intelligence and Collaboration.

    These global partnerships have resulted in:

    • the establishment of the Common Reporting Standard for collecting, reporting and exchanging financial information on foreign tax residents.
    • more than 2,500 exchanges of information, enabling us to raise additional tax liabilities of $1 billion.
    • 100 jurisdictions linked by international treaties and exchange agreements.
    • more effective disruption of offshore tax evasion activities by Australian authorities.
    Offshore tax evasion comes at a cost.

    Offshore tax evasion results in less tax revenue, which ultimately means less funding for essential community services like hospitals, schools and roads.

    We’re committed to protecting the community from offshore tax evasion.

    A partnership closer to home

    The Serious Financial Crime Taskforce (SFCT): ATO-led, joint-agency taskforce with formidable resources and data-matching capability.

    $306 million collected by SFCT from serious financial crime activities, including offshore tax evasion. (As at 30 June 2019)

    Think you’ve been involved in illegal tax dealings?

    Find out more about offshore tax evasion – including how to make a voluntary disclosure or a confidential online tip off– at ato.gov.au/offshoretaxevasion.

    Remember: if you come forward early with information, it could mean reduced penalties and interest.

    Last modified: 02 Mar 2020QC 61569