TaxAdministrationGuernsey opens door for HMRC

Guernsey opens door for HMRC

Tax haven reveals bank account details

The tax haven of Guernsey has agreed to provide HM Revenue and Customs with
information on individuals and companies on request.

This latest step in the HMRC’s battle to track down tax evaders comes days
after it announced it is setting up a new unit to scrutinise the affairs of the
richest taxpayers.

The agreement follows similar deals struck with the British Virgin Islands
last October, along with the Isle of Man and Bermuda.

A spokesman for HMRC told The Times that it would continue to press
for agreements in other popular tax havens including Liechtenstein, Andorra and
Monaco.

The scheme allows HMRC to ask for the bank account details of any company
that could be liable for income tax, corporation tax, capital gains tax,
inheritance tax or VAT.

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