UK unveils new measures to combat tax evasion

The British Government is aggressively pursuing offshore tax evasion. In the past 4 years they have collected $147 billion in additional tax revenue from pursuing offshore tax evaders. By contrast the IRS 3 Offshore Voluntary Disclosure Programs (2009, 2011, 2012), over the last 5 years have only recovered less than $7 billion in unpaid taxes. Why is the British government’s tax collection more than 20 times the amount of the IRS tax collection for offshore tax evasion?

See recent article: UK Unveils New Measures to Combat Tax Evasion

LONDON: Corporations linked to offshore tax evasion by investors in Britain will face criminal sanctions under government plans unveiled on Thursday (Mar 19), a month after an international scandal over tax-dodging by HSBC clients in Switzerland.

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