TaxAdministrationTaxman considers German evidence

Taxman considers German evidence

Data obtained by the German authorities could be used in an HMRC crackdown on offshore evasion

HMRC said it may obtain the German finance ministry’s details on individuals
involved in suspected tax evasion.‘Part of… our reciprocal double taxation
agreement with other tax jurisdictions allows for the exchange of information
where necessary,’ said a spokesman.

With a reputation as a tax haven for German speakers, Liechtenstein is
unlikely to be the first choice for offshore investment from Britain. The
Organisation for Economic Co-operation and Development said the disclosures
about alleged tax evaders, which have seen former Deutsche post chief executive
Klaus Zumwinkel’s house raided, were part of a broader challenge.

‘As long as there are financial centres that refuse to co-operate … residents
in other countries will be tempted,’ said secretary-general Angel Gurría.

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