London base for international drive against tax avoidance

The Joint International Tax Shelter Information Centre (JITSIC) is an international initiative to identify and curb tax avoidance and shelters and those who promote and invest in them. Tax avoidance has a detrimental affect on the economies of all developed countries, depriving them of vital resources whilst promoting complexity and inequity within the tax system.

JITSIC recognises that international tax avoidance can only be tackled effectively through international co-operation.

Welcoming the opening of JITSIC's London office, Financial Secretary to the Treasury, Jane Kennedy said: "I'm delighted that London has been chosen as JITSIC's second home. Countries need to work together in order to stamp out tax avoidance, which deprives public services of vital resources. Tax avoidance gives those who seek to cheat the system an unfair advantage over the vast majority of taxpayers who play by the rules. JITSIC has already proved very effective in combating tax avoidance and its new centre in London will help us further build on that work."

HMRC Director General (Business) Dave Hartnett said: "The selection of London as the second base for JITSIC's work is very good news - not only for the UK - but for every country committed to fairness and transparency in their tax systems. JITSIC is already rising to the challenges posed by international tax avoidance in its increasingly cunning and complex forms. The understanding gained and exchanged will materially benefit every taxpayer who prefers to play by the rules."