HMRC targets offshore tax-evasion with new proposals, provides correction window till Sep' 18

Dec 28,2016

UK HMRC releases draft legislation on “Tackling offshore tax evasion: requirement to correct” (‘RTC’) as per which taxpayers having undeclared UK tax liabilities in respect of offshore interests would be required to disclose the relevant information to HMRC upto September 30, 2018; The legislation also proposes to introduce new sa...

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