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Tax dodgers beware

By Euro Weekly News Media • Published: 10 Nov 2014 • 15:53

SPAIN is one of 51 countries to have signed up to an agreement to help clamp down on international tax dodgers.

The Spanish government has signed up to a programme initiated by the Organisation for Economic Cooperation and Development (OECD) in which participating countries will share economic data in an effort to stamp out international tax evasion.

Banks will have to share all financial information to other countries on an annual basis, in a move that finance officials have praised as a major step in ending the role of banks in tax evasion.

The new agreement will not be implemented until 2017, but its presence will make it much more difficult for individuals and corporations to dodge tax.  The UK has signed up to the agreement, as has renowned tax haven Switzerland.

British finance minister George Osborne said: “Tax evasion is not just illegal, it is immoral. You are robbing from your fellow citizens and you should be treated like a common thief.”

The agreement is likely to make tax evasion much more difficult for international property buyers, but officials pointed out that it will not completely stamp out tax evasion.

“The risk of being found out becomes very high,” said German tax minister Wolfgang Schaeuble. “But as long as people exist, they will not obey the law. They’ll work out new ways to dodge taxes.”

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Comments

    • Ian Davies

      30 March 2016 • 19:04

      Give over i have personally given HMRC enough evidence regarding two crooks, it involved false accounting, Phoneix fraud, carousel fraud, vat fraud, fraud by forgery of CE compliant goods.
      And they done nothing how do I know I was supposed to testify in a court of law.
      Truth is its a joke, the EU is a joke, HMRC is a joke, Action Fraud is a joke, RAPEX is a joke.
      The best ones are when they say on the radio or tv ” tax dodgers we know who you are” what a laugh they only do it to fool all the people that they are actually doing something about it, what a hoot when we hear that we just start to laugh our heads off the other good one is ” we are catching up with you be fit cheats”
      The best place to start looking for tax dodgers is LTD companies, billions in lost revenue and they go on about ex pats abroad avoiding tax LOL.
      LTD company want to get struck off the registration of LTD companies, they do not send their accounts in, they know what he responds from Compnay House will be, and the responded will be that Companies House will strike them off the registration for non compliance exactly what the director of the company wanted.
      Companies house should report it to HMRC but brush the mess under the carpet, the company gets struck off and more tax is lost for ever.
      For all you cheat out there the chances of getting caught are small, take i t from someone who’s given up its so hard exposing cheats its ubelivable.
      I know one director who’s has had 11 companies.
      It’s a joke

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