HMRC has signed a new tax information exchange agreement with Malaysia.
Stephen Timms, financial secretary to the Treasury, sealed the deal with the
High Commissioner of Malaysia H.E. Datuk Abd. Aziz Mohammed.
Timms, who today hinted strongly that the government was planning a further
crackdown on tax avoidance, will submit a draft order for consideration by the
House of Commons. The protocol will come into force once both countries have
completed their legislative procedures, becoming effective from next year. It
updates the exchange of information Article of the existing Agreement to bring
it into line with current OECD standard and practice.
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HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more