Washington (May 4, 2004) – The tax commissioners of Australia, Canada, the United Kingdom and the United States have signed a Memorandum of Understanding to establish a joint task force to increase collaboration and coordinate information about abusive tax transactions.

An initial focus of the work will include the ways in which financial products are used in abusive tax transactions by corporations and individuals to reduce their tax liabilities, and the identification of the promoters who develop and market those products and arrangements.

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