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New corporate facilitation of tax evasion offence

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The Criminal Finances Act 2017 (Commencement No 1) Regulations, SI 2017/739, bring into effect from 30 September 2017 the two new corporate offences of failure to prevent facilitation of tax evasion, one in relation to UK taxes and the other for foreign taxes, contained in Part 3 of the Act. The regulations also bring into force from 17 July 2017 the requirement (in s 47) for the government to publish guidance about how relevant bodies might put in place procedures as a defence against the new offences. The latest version of the draft guidance was published in October 2016 and will require further regulations before coming into operation.