UK plans new rules to jail tax avoiders

(CNSBusiness): The UK is planning tough new measure to crack down on tax evasion by removing the need for authorities to show intent to avoid tax before they can be prosecuted. Offshore account holders who avoid paying tax would face bigger fines and could be jailed more easily if new criminal standards, where officials will only have to show money was taxable and undeclared, are adopted. Chancellor George Osborne said Friday that he will change the law to make it easier for the tax man to mount criminal prosecutions. He said the changes would mean there was "no safe haven" for those evading tax. Osborne said government will consult on a new criminal standard, harsher fines and increased jail time. Read more on CNS Business

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