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Further action on tax avoidance

The agreement by Guernsey to share tax information with HM Revenue & Customs could see a significant shift in power to the UK authorities in their drive to crack down on offshore tax evasion.

Last week Guernsey announced that it had signed up to a Tax Information Exchange Agreement with the UK HMRC.

The action could be taken as a sign that the UK authorities are becoming more aggressive in their pursuit of offshore tax evaders. The agreement is a significant piece of legislation.



Date: 16th February, 2009
Author: Cathy Corns


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