10 Oct 2012

ANZ to release Vanuatu account information to Australian tax authorities

4:14 pm on 10 October 2012

ANZ Bank has accepted an Australian Federal Court ruling that it should surrender more than 1,300 Vanuatu customer accounts to the Australian Taxation Office.

The newspaper, The Australian, reports that the ANZ will not appeal against last month's ruling.

ANZ is now likely to co-operate with the Taxation Office and the Vanuatu government in handing the material over.

The Taxation Office ran into strong resistance in 2010, when ANZ took court action saying it would be in breach of Vanuatu law and risk its licence if it complied with the notices.