{"id":42058,"date":"2018-06-02T08:35:54","date_gmt":"2018-06-02T07:35:54","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=42058"},"modified":"2018-06-02T08:35:54","modified_gmt":"2018-06-02T07:35:54","slug":"automatic-information-exchange-from-tax-havens-works-as-tax-justice-campaigners-always-said-it-would","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/06\/02\/automatic-information-exchange-from-tax-havens-works-as-tax-justice-campaigners-always-said-it-would\/","title":{"rendered":"Automatic information exchange from tax havens works – as tax justice campaigners always said it would"},"content":{"rendered":"

According to International Tax Adviser<\/a>:<\/p>\n

HM Revenue and Customs identified a 20% jump in serious tax evasion cases in the past 12 months, according to data obtained by law firm Pinsent Masons.<\/p>\n

HMRC had found 3,809 cases of serious tax evasion in the 12 months to 31 March. It identified 3,216 such cases in 2016-17.<\/p><\/blockquote>\n

More interesting is the reason why:<\/p>\n

The suggestion is that the UK taxman is receiving more information as a direct result of the introduction of the Common Reporting Standard (CRS).
\nEarly adopters first began sharing information in September last year. A second wave of nations; including Switzerland, the UAE, Hong Kong and Singapore, will begin reporting in September 2018<\/p><\/blockquote>\n

So, automatic information exchange from tax havens works.<\/p>\n

I will notch that up as another success for tax justice. I well recall a meeting at HM Treasury in the early \u00a0summer of 2009 when I (and the few others present) were told that automatic information exchange would not happen in my lifetime, and that what, anyway would HMRC do with all that data?<\/p>\n

My reaction was to go home and write a note explaining<\/a> how it could work. And I, and others redoubled our efforts.<\/p>\n

Of course we were not to know that the US would introduce FATCA so soon: nor did the Treasury.<\/p>\n

But the aim of all this work has always been to change the mood music. And it works.<\/p>\n

And several hundred people have already had their cases investigated as a result. I take some pleasure in that.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to International Tax Adviser: HM Revenue and Customs identified a 20% jump in serious tax evasion cases in the past 12 months, according to
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55,32,97,11],"tags":[],"class_list":["post-42058","post","type-post","status-publish","format-standard","hentry","category-tax-evasion","category-tax-havens","category-tax-justice","category-tax-justice-network"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/42058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=42058"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/42058\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=42058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=42058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=42058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}