John Nugent Director with PKF (Isle of Man) Ltd analyses the future of offshore tax planning in view of the authorities' determination to clamp down on offshore tax evasion
Revenue authorities in a number of countries are using radical new strategies to uncover and undermine offshore tax evasion. These new approaches involve the identification of particular types of tax evasion the identification of the offshore organisations which may hold funds that have not been properly declared and the application of pressure on those organisations to co-operate in unwinding the evasion.
It is already apparent that this new breed of investigations linked to the new information flows is likely to lead to the uncovering of very large amounts of offshore tax evasion.
The implications...
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John Nugent Director with PKF (Isle of Man) Ltd analyses the future of offshore tax planning in view of the authorities' determination to clamp down on offshore tax evasion
Revenue authorities in a number of countries are using radical new strategies to uncover and undermine offshore tax evasion. These new approaches involve the identification of particular types of tax evasion the identification of the offshore organisations which may hold funds that have not been properly declared and the application of pressure on those organisations to co-operate in unwinding the evasion.
It is already apparent that this new breed of investigations linked to the new information flows is likely to lead to the uncovering of very large amounts of offshore tax evasion.
The implications...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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