THE UK GOVERNMENT has upped the ante against offshore tax evaders, after a new global information-sharing standard was agreed.
HM Revenue & Customs has launched a campaign today to target offshore tax evasion, following endorsement by the G20 in Australia over the weekend of the OECD’s new global standard to share tax information.
The agreement is expected to be a considerable expansion on the UK’s current agreements with Crown dependencies and overseas territories. So far 42 countries and jurisdictions have joined up to the initiative.
Chancellor of the Exchequer, George Osborne said: “The UK government is on the side of the hardworking majority of people and companies who pay the tax they owe. By taking global action to reform the system alongside a tough approach to enforcing the law at home, we will close the net on those who think they do not have to play by the rules.
“This is a victory for Britain’s international agenda and the fight against wrongdoing.”
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
Lord Howard Leigh of Hurley discusses the government’s initiatives to mitigate tax avoidance and evasion
Top 50+50: Demand for tax advisory services remains high, but fee pressure is expected in relation to compliance services
The demand for tax advisory services remains high and this looks to continue; but fee pressure is expected in relation to compliance services as the “Making Tax Digital” initiative is rolled out,