WGPlus (Archive)

But which of the managers will ‘do the time’, as it is not the shareholders who make these decisions?

The UK will bring forward plans to introduce a criminal offence for corporations who fail to stop their staff facilitating tax evasion, the PM announced in a statement to the Commons, ahead of next month’s summit to tackle corruption in all its forms.

For the first time, companies will be held criminally liable if they fail to stop their employees from facilitating tax evasion.  At the March 2015 Budget the Chancellor said the government would be delivering on its pledge to introduce the measure in this Parliament.  The move is part of the government’s efforts to clamp down on corruption in all walks of life.  The government has already confirmed plans to create a cross-agency taskforce to investigate all evidence of illegality that has emerged from the so-called ‘Panama Papers’.

Researched Links:

10DS:  PM - Companies to be liable for employees who facilitate tax cheating

PC&PE:  New measures & greater clarity needed to fight tax fraud

The more they ‘evade’ the bigger the cuts will have to be

Looking back one can see that tax collection (in some cases) is just like trying to carry live eels

Perhaps the Greek government should try and book some places?

Tackling tax fraud: how HMRC responds to tax evasion, the hidden economy and criminal attacks

EC concludes Belgian "Excess Profit" tax scheme illegal

Net closes in on offshore tax cheats

UK tax gap falls to 6.4%

Crackdown on tax cheats nets £109m in just 6 months

Greening: Tax generation key to ending poverty

New criminal offences in clampdown on tax evasion

PM’s Commons statement on Panama Papers: 11 April 2016

HMT:  UK leads European calls for G20 action on beneficial ownership

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