What are the new offences? The new offences make “relevant bodies”, namely corporates and partnerships, strictly criminally liable for failing to prevent criminal facilitation of tax evasion by any of their “associated persons”, namely any person performing services for or on behalf of the body. Such persons include, for example, employees, agents, sub-contractors etc. The […]

In tax evasion hunt, Australia finds scores of Swiss accounts still active. Hundreds of secret Swiss bank accounts identified by Australian authorities as part of a global tax evasion and money laundering investigation are still in use, a top tax official said on Wednesday. Coordinated raids on scores of suspicious bank accounts began last week […]

A tax evasion tip-off, apparently relating to Swiss bank Credit Suisse, has led to raids in five countries, including the UK. Authorities in the Netherlands said the probe related to as many as 55,000 suspect accounts held at a Swiss bank. Officials refused to identify which bank but Credit Suisse later released a statement to […]

French conservative politician and businessman Serge Dassault has been fined two million euros (US$2.2 million) after a court on Thursday found him guilty of money laundering and failing to disclose his wealth fully to authorities. The court added that the 92-year old, who sits in the Senate upper house of parliament, would be banned from […]

The UK tax authority’s (HM Revenue & Customs) campaign against tax evasion will be bolstered, from autumn 2017, by a new corporate criminal offence of failing to prevent the facilitation of tax evasion. The offence appears in Part 3 of the Criminal Finances Bill which was introduced into Parliament in October 2016 Under the new […]

A renewed focus on corporate behavior has been one of the hallmarks of the domestic agenda that has emerged in the early weeks and months of Theresa May’s tenure as Prime Minister. Mrs May has demanded a shake-up of boardroom representation, further checks on executive pay and new measures to make organisations criminally culpable for […]

Two subsidiaries of the Cayman National Corporation have pleaded guilty to helping clients evade taxes in a US Department of Justice crackdown on tax cheats. Cayman National Securities and Cayman National Trust entered guilty pleas Wednesday in a New York federal court. The two entities will pay US$6 million in forfeiture and fines, prosecutors said. […]

Finance Minister Arun Jaitley on Monday unveiled a scheme to give tax dodgers another chance to come clean, as he sought to bring billions of dollars’ worth of undeclared income into the mainstream economy. The move follows Prime Minister Narendra Modi’s decision to scrap 500-rupee and 1,000-rupee banknotes in a bid to flush out cash […]