Lew Says Australia to Sign Tax Evasion Agreement
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The U.S. and Australia are set to sign an agreement on automatic sharing of bank information to battle tax evasion, amid plans for a global compact to prevent companies shifting income to low-tax countries.
The two countries have reached an agreement on the Foreign Account Tax Compliance Act “in substance, and plan to sign it soon,” U.S. Treasury Secretary Jacob J. Lew told a media event in Sydney today.