U.K. Opens Consultations on New Criminal Offense for Offshore Tax Evasion and Strengthens Civil Deterrents for Offshore Tax Evasion

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Monday, December 1, 2014

Author:

Bruce Zagaris

Volume:

30

Issue:

12

Abstract:

On August 19, 2014, the Her Majesty’s Revenue and Customs (HMRC) announced the start of two consultations on offshore tax evasion: one is to adopt legislation on a new criminal offense and the second is to strengthen civil deterrents for offshore tax evasion.