Irish Revenue officials recently met with 29 other Revenue authorities to exchange information and share findings on investigations arising from the Panama Papers. The meeting focused on the intermediaries including financial institutions, advisers, lawyers, and accountants, who facilitate tax evasion.

This was the third meeting of the Joint International Taskforce on Shared Intelligence and Collaboration (JITSIC), a group of senior tax officials. According to Revenue, the largest ever simultaneous exchange of information also took place at the meeting whereby member countries pooled evidence from domestic efforts such as data analytics, voluntary disclosures, and interviews with taxpayers, and document reviews, on key intermediaries.