Britain to clamp down on tax secrecy in UK havens

| 24/11/2012

(CNS Business): The UK is planning to impose its own version of the US Foreign Account Tax Compliance Act (FATCA) on its Crown Dependencies and Overseas Territories, according to a report published Friday by International Tax Review, which says the move will deal an almost-fatal blow to tax evasion through the UK’s tax havens. The UK plans were revealed in a leaked government document seen by ITR. The Tax Justice Network blog commented, “Britain's appalling track record in this general area constitutes grounds for severe caution. But that is not to take away from the fact that if this move is genuine, it represents genuine progress. And among other things … it does show that Britain remains in a position to require its satellite tax havens to submit to its authority? Read more on CNS Business

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