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Britons hiding income in tax havens overseas to be made criminal offence Tough new measure was announced by George Osbourne at U.S. meeting It could help recoup some of 15billion in tax that goes missing each year HMRC estimates that outright tax evasion costs the Exchequer 5billion

By Alex Brummer City Editor In Washington

Published: 18:42 EST, 11 April 2014 | Updated: 18:47 EST, 11 April 2014

Tough new measure: Chancellor George Osborne has announced that it will be a criminal offence for residents to hide income in tax havens overseas

Britain is to declare war on tax dodging by making it a criminal offence for residents to hide income in tax havens overseas.

The tough new measure, announced by George Osborne at a meeting of finance ministers in the U.S., could help recoup some of the 15billion in personal tax and national insurance that goes missing each year.

HM Revenue & Customs estimates that outright tax evasion costs the Exchequer 5billion.

The Chancellor said: We are changing the balance of the law, so HMRC dont have to prove someone intended to hide their money offshore to evade tax, just that they did so and didnt pay tax.

The message is clear with this new criminal offence: if you are evading tax, there is no safe haven and we will find you.

The legislation will be attached to the finance bill, currently in the House of Commons, and will be published first thing on Monday morning.

Read more:
George Osborne announces measure to help Britain recoup some of 15bn lost tax



GRV 2014 – Follow the money to tax havens
Miranda Patrucic, Bosnia (ENG)

By: Region Vsterbotten

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GRV 2014 – Follow the money to tax havens – Video

New Delhi, March 26 (IANS) The Supreme Court Wednesday rejected the centre's plea seeking recall of the court's order setting up a Special Investigation Team (SIT) to probe the flight of unaccounted money in foreign banks. The court also slammed the successive governments at the centre in the last 65 years for doing nothing to bring back the black money stashed away in tax havens abroad. The …

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SC rejects centre's plea over black money probe

Instead, these multinational corporations set up subsidiaries in tax havens such as Ireland, Switzerland and the Cayman Islands. Skip to search. New User?

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Corporate tax avoidance ‘scheme’ hurting Canada, expert …



The Daily Show – Horsford calls out tax havens
The Daily Show features a clip from Rep. Steven Horsford (NV-4) talking about tax avoidance schemes. All rights to this video are owned by Viacom Inc.

By: Rep. Steven Horsford

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The Daily Show – Horsford calls out tax havens – Video

France's industrial renewal minister Friday threw a spanner in cable operator Numericable's multi-billion-euro bid for telecoms group SFR, as he challenged the company and its billionaire chairman over their holdings in tax havens. Numericable through its parent company Altice has offered 10.9 billion euros and a 32 percent stake in the new company for Vivendi's SFR, currently France's second …

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French minister weighs in over telecom bidding war



“Never been more money in tax havens than now” – new film exposes City corruption
Watch the full episode here: http://bit.ly/1jQTG6E Writer and filmmaker Mark Donne talks to Afshin Rattansi, the host of Going Underground, about the discove…

By: goingundergroundRT

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"Never been more money in tax havens than now" – new film exposes City corruption – Video

A lone protester who tried to enter a hotel seconded for the G20 finance minister's meeting in Sydney says he wants the economic body to crack down on tax havens. Bill Johnstone, 67, holding a sign protesting the future fund and accusing it of owning 43 tax havens, on Saturday tried to gain entry to the Intercontinental hotel in Sydney at about 1130 on Saturday. Outside, the Mr Johnstone was …

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Protester tries to access G20 hotel



Leading economic advisor turned dissident reveals how British tax havens help the rich get richer
Watch the full episode here: http://bit.ly/1frve96 John Christensen, Jersey's former economic advisor and current Director of the Tax Justice Network, talks …

By: goingundergroundRT

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Leading economic advisor turned dissident reveals how British tax havens help the rich get richer – Video



The biggest tech tax havens!

By: Aleo Vera

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The biggest tech tax havens! – Video



'Shocking abuse of public trust' Columbia University prof estimates $20bln hidden in tax havens
World billionaires and mega rich companies stash trillions in so-called “treasure islands” special tax zones like the British Virgin Islands and the Cayman I…

By: Global Report News

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‘Shocking abuse of public trust’ Columbia University prof estimates $20bln hidden in tax havens – Video



The Taxcast: Edition 25, January 2014
In the January 2014 Taxcast: Tax justice goes to the Cayman Islands; the latest fall-out from #OffshoreLeaks, the expose on tax havens from the International…

By: TackleTaxHavens

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The Taxcast: Edition 25, January 2014 – Video



'Web of financial secrecy': UK wins title of biggest tax haven for rich
Great Britain has won the none-too-flattering title of King – of the world's tax havens. A new report says the UK's overseas territories make up much of the …

By: gece sahini

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‘Web of financial secrecy’: UK wins title of biggest tax haven for rich – Video

Jan 032014

Half the world’s trade passes through them. Right now they’re hiding trillions of dollars on behalf of criminals, dictators, wealthy individuals and multinationals. Find out what tax havens are, why they’re so damaging and what we can do about it.

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Tackle Tax Havens



UK tax havens and City Of London control UK (23Dec13)
Mark Donne, director of the film “The UK Gold” talks about the UK's tax havens, which no politican is interested in really stopping, and the City of London C…

By: liarpoliticians

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UK tax havens and City Of London control UK (23Dec13) – Video

Form Your Company

There are literally dozens of kinds of offshore companies–some of which only exist in one jurisdiction. However, the majority of offshore companies fall into a few categories.

The first big dividing line is between companies formed in common law jurisdictions and companies formed in civil law jurisdictions. Common-law companies are more numerous since the British essentially created most of the modern tax havens. The main types of common-law companies include:

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Offshore Companies, Offshore Banking



UK's tax havens world center for money laundering (08Nov13)
The UK's tax havens aid in money laundering, as the crooked UK taxman looks into plebs piddly bank accounts, the politicians and super rich hide money in tax…

By: liarpoliticians

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UK’s tax havens world center for money laundering (08Nov13) – Video

Tax Justice Network says 2 billion Commonwealth citizens are among victims of 'web of secrecy jurisdictions' Britain, in partnership with Her Majesty's overseas territories and crown dependencies, remains “by far the most important part of the global offshore system of tax havens and secrecy jurisdictions”, the Queen will be told tomorrow in a letter from tax experts and campaigners. The monarch …

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Britain rules the world of tax havens, Queen is warned



Vince Cable on the coalition government, ballroom dancing and military invasion of tax havens
Business secretary Vince Cable tells us in this interview why he felt uncomfortable entering a coalition with the Conservatives, talks about his love of danc…

By: ChatPolitics

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Vince Cable on the coalition government, ballroom dancing and military invasion of tax havens – Video



Super rich take advantage of tax havens

By: Davy Jones

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Super rich take advantage of tax havens – Video



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