A global crackdown on tax evasion by wealthy individuals has been launched in
30 countries, the Financial Times reported on Saturday.
Tax officials promised greater scrutiny of individuals who used arrangements
to hide money offshore at a meeting in Paris.
Governments are cracking down on perceived tax avoidance by wealthy
individuals, in part due to a public perception that rich people should come
under the greatest scrutiny by authorities because they pay the least tax.
But an OECD report on compliance by wealthy individuals partially rebuffed
this assumption. It cited data showing the richest 0.5 per cent of taxpayers in
the UK pay 17 per cent of income tax.
The relative tax burden of wealthy citizens was even higher in the US, where
the top one per cent pay about 40 per cent of federal income tax.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy