More on the US attack on credit cards used for tax evasion

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Business Today in the USA has reported:

US tax authorities moved to force payment-card processor First Data to identify merchant clients who set up offshore bank accounts to evade taxes on business income.

The Justice Department said today it sought permission from a court in Denver to serve a summons on First Data. The Colorado-based company was the world's largest processor of credit-card payments when it was purchased by Kohlberg Kravis Roberts & Co's KKR Private Equity Investors LP in 2007.

The Internal Revenue Service has previously used so-called "John Doe" summonses to identify individual taxpayers using debit or credit cards issued by foreign banks to evade their taxes. The IRS estimates that about $US290 billion in taxes go uncollected by the US every year.

It really is time HMRC replicated this move here in the UK.