HM Treasury
 Printable version
|
Next step taken in stamping out international tax evasion
51 jurisdictions across the globe sign agreement on the automatic exchange of tax information in an international clampdown on tax evasion.
Today the UK, alongside 50 other countries and jurisdictions from across the globe, is taking the next step in stamping out tax evasion by signing a new agreement at the Global Forum in Berlin to automatically exchange information.
Under the agreement, unprecedented levels of information, including account balances, interest payments and beneficial ownership, will be shared with the UK from countries across the world in an international clampdown on tax evasion.
This will increase the ability of HMRC to clamp down on tax evaders, providing HMRC with the details of billions of pounds of assets held overseas by UK taxpayers.
Speaking ahead of the signing ceremony in Berlin the Chancellor of the Exchequer, George Osborne, said:
Today marks a negotiating triumph for Britain, and our close ally Germany, in the fight against tax evasion.
It was three years ago when, with my German colleague Wolfgang Schäuble, I launched a campaign for a new international deal to catch people who evade their taxes by hiding their money overseas.
I never expected that within such a relatively short period we would succeed in getting 51 countries to sign up to this agreement.
Today we strike a blow on behalf of hardworking taxpayers who are cheated when rich people don’t pay their taxes.
Today we send a clear message to those who still think they can escape making a fair contribution to our public services and to reducing our deficit: you can hide no more; we are coming to get you.
Click here for full press release
