A Group You Should Hope to Never Meet: The J5
Jack Brister
Founder, International Wealth Tax Advisors
Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of experience. Jack specializes in U.S. tax planning and compliance for non-U.S. families with international wealth and asset protection structures. Jack is a frequent featured speaker at numerous international financial conferences and has been named a Citywealth Top 100 U.S. Wealth Advisor.
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Did you know that a new group of international tax compliance superheroes, the Joint Chiefs of Global Tax Enforcement, was formed in 2018?
Created to fight international tax crime and money laundering, the group of regulators is known as the J5 and is comprised of five member-countries: the United States, the United Kingdom, Canada, Australia and the Netherlands.
According to Accounting Today, J5’s first operation took place this week. The group swooped in on a Central American financial institution suspected of money laundering and worldwide tax evasion.
“This … should degrade the confidence of anyone who was considering an offshore location as a way to evade tax or launder the proceeds of crime,” said Australian Tax Office deputy commissioner and Australia’s J5 chief Will Day. “Never before have criminals been at such risk of being detected.”
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