Tax department wants banks to help catch tax dodgers

The tax administration department says its time for the law to be changed to allow banks to provide information on suspected tax dodgers.



Speaking at a Gleaner editors’ forum a short while ago, the director general for tax administration Viralee Latibeaudiere said the move would significantly help to identify tax dodgers.



At present banks are prohibited from releasing clients’ information because of confidentiality obligations unless the courts order them to do so.



But Mrs Latibeaudiere says several jurisdictions have changed this practice to help tax collectors to identify evaders.



According to Mrs Latibeaudiere for sometime now, the tax department has been trying to get the legislative backing for banks to provide information to the tax department. But she says the process has not been advanced.



Mrs Latibeadiere would not say whether the lack of political will has contributed to the failure of the Government to introduce legislation that would allow banks to provide information on their clients to tax authorities.