Tax authorities in Canada and the UK are promising to strengthen their collaboration to improve tax compliance and combat offshore tax evasion.
The ministers responsible for their countries respective tax collectors — Canada’s minister of national revenue, Kerry-Lynne Findlay, and the UK’s financial secretary to the treasury, David Gauke — met in London yesterday and pledged to keep working together to combat tax evasion, and to facilitate compliance with tax laws.
“We discussed issues facing our respective tax administrations and how, by working together, we can better share information, encourage tax compliance and pursue individuals or organizations who seek to avoid their tax obligations. While both our administrations have made significant progress in tackling offshore tax evasion, it continues to be a priority given its threat to the integrity and fairness of tax systems around the world,” they said in a joint statement following the meeting.
They noted that a recently-signed protocol “is a significant step in our efforts to modernize the legal and administrative mechanisms between our two countries which allow us to deal with issues such as international tax evasion”; but, they also indicated that they must continue to look for ways to promote tax fairness and integrity.
Apart from their efforts to combat international tax evasion, they reportedly also discussed the “need to keep red tape and paperwork to a minimum” for small business, and the growing demand for new ways of filing and paying taxes online, which will also help reduce the paperwork burden.
“Our two administrations share many similar goals: combating international tax evasion and aggressive tax avoidance, ensuring a fair and competitive tax regime, and reducing red tape for businesses. I am certain that, as we continue to build this relationship and work together, we will help address global non-compliance and contribute to the ongoing international dialogue regarding cooperation and collaboration in tax administration,” said Findlay following the meeting.