A 200-strong team of investigators and specialists is targeting ‘wealthy tax cheats’ who own property abroad, HMRC said. Danny Alexander, the Chief Secretary to the Treasury, announced the creation of the ‘affluent’ unit at the recent Liberal Democrat conference.
The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has adopted a progress report to the G20 based on 59 peer reviews.
Governments have now signed more than 700 agreements to exchange tax information, said OECD Secretary-General Angel Gurría.
In light of the judgment, Patricia Mock and Bill Dodwell look at what it means for HMRC powers regarding extra-statutory concessions and contending residency, and legitimate expectation
Sarah Norton summarises the changes regarding real-time working of transfer pricing issues and Advanced Pricing Agreements, cost contribution agreements and share options
‘One of Britain’s biggest companies may be forced to move abroad if the Government does not abandon the new higher rate of income tax ... Paul Walsh, the chief executive of Diageo, said the 50p rate threatened to cause “long term damage” to Britain’s “competitive edge”.
The Vatican's Pontifical Council for Justice and Peace has called for a new tax on financial transactions and proposed the creation of a global authority to regulate financial markets. International institutions must be reformed to favour effective monetary and financial systems, it said.
Tax campaigners have called for the ‘immediate cancellation’ of the UK government’s tax agreement with Switzerland. The Tax Justice Network published details of ten ‘escape routes’ in the agreement, which is designed to tackle evasion by British residents using secret Swiss bank acccounts.