OECD details strategies to disrupt work of professionals enabling tax avoidance

Published on: 26 February 2021

Published by a

Specialist Tax Regulatory Materials

Article summary

The Organisation for Economic Co-operation and Development (OECD) has issued a new report in which it calls on countries to increase their efforts to better deter, detect and disrupt the activities of professionals who enable tax evasion and other financial crimes. The report, titled Ending the Shell Game: Cracking down on the Professionals who enable Tax and White Collar Crimes, explores the different strategies that countries can take against those professional service providers which play a large part in the planning and pursuit of criminal activity, referred to in the report as ‘professional enablers’. The OECD noted that ‘the majority of professional service providers are law-abiding, and play an important role in assisting businesses and individuals understand and comply with the law’. However, it is hoped that this new report will assist countries in dealing with ‘the small subset that use their specialised skills and knowledge to enable clients to defraud the government and evade their tax obligations’. The report will be presented at the virtual OECD Global Anti-Corruption and...

Jurisdiction(s): World

News

Guidance

Popular Articles

Personal Tax

Simple assessments

Simple assessmentsFrom 2016/17 onwards, HMRC has the power to make a ‘simple assessment’ of the taxpayer’s income tax and / or capital gains tax liability outside of the self assessment system. As HMRC already receives significant amounts of information on the income received and tax paid by

14 Jul 2020 13:40 | Produced by Tolley Read more

Employment Tax

Loans written off

Loans written offCompanies sometimes provide directors, employees or shareholders with low interest or interest-free loans either as part of the reward package or on special occasions to help the individual meet significant expenditure. The employment income implications of these loans are discussed

14 Jul 2020 12:11 | Produced by Tolley Read more

Employment Tax

Parking provision and expenses

Parking provision and expensesCar parking facilities at or near to the employee’s workplaceThere is an exemption from tax and NIC where an employer provides parking, or pays for or reimburses an employee for the costs associated with car parking at or near the place of work; there are no reporting

14 Jul 2020 11:09 | Produced by Tolley Read more

��Ƶ