Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Is Carla Bruni against a political comeback for Sarkozy?

Read more

DEBATE

Clone of Pakistan Protests: Democracy put the test (Part Two)

Read more

DEBATE

Pakistan Protests: Democracy put the test (Part One)

Read more

ENCORE!

The French Maestro of Soul

Read more

FOCUS

US tobacco giants want lion's share of e-cigarette business

Read more

ENCORE!

Bold and bonkers: Kate Bush is back on stage

Read more

THE INTERVIEW

Simon Serfaty, US foreign policy specialist

Read more

IN THE PAPERS

'It's a War, Stupid!'

Read more

BUSINESS DAILY

French PM calls on ECB to go further to help economy

Read more

  • US military targets Somalia's al Shabaab Islamist group

    Read more

  • French education ministry picture sparks racist abuse

    Read more

  • UN backs Iraqi request for inquiry into IS militant crimes

    Read more

  • Obama calls for higher wages amid 'revving' US economy

    Read more

  • Video: Ukraine’s children return to school as fighting rages on

    Read more

  • Americans detained in North Korea call for US help

    Read more

  • US urges Israel to reverse West Bank land seizure

    Read more

  • Lesotho PM calls for regional peacekeeping force after ‘coup’

    Read more

  • Ukrainian forces retreat from Luhansk airport after clashes

    Read more

  • Teddy Riner, France’s unstoppable judo champion

    Read more

  • Death toll rises in Paris apartment building blast

    Read more

  • Iraqi forces free Amerli in biggest victory over IS militants since June

    Read more

  • French police arrest hungry hedgehog hunters

    Read more

  • Tripoli under control of militias, says government

    Read more

  • Monaco’s Falcao set for Man Utd loan on transfer deadline day

    Read more

  • Spain orders custody for parents of ill British boy

    Read more

UK caught in tax evasion controversy

Latest update : 2008-02-25

According to the British press, UK's tax authority paid an informant 100,000 pounds ($196,500) for the bank details of scores of wealthy Britons in Liechtenstein. (Report: P. Hall)


LONDON, Feb 24 (Reuters) - Britain's tax authority is
investigating up to 100 British citizens with bank accounts in
secretive Liechtenstein after buying data from an informant in a
similar move to Germany, a newspaper reported on Sunday.
 

Her Majesty's Revenue and Customs (HMRC) paid the informant
100,000 pounds ($196,500) for the bank details of scores of
wealthy Britons, The Sunday Times said, adding that the records
had been stolen from the tax haven.
 

An HMRC spokesman declined to confirm the report, but said:
"HMRC is using the powers given to it by parliament to protect
the UK Exchequer from those who seek to hide behind secrecy laws
to deprive the UK of tax revenues to which it is entitled."
 

A major German investigation into tax dodging centring on
Liechtenstein and its secretive banks has sparked a backlash in
Germany against the tiny Alpine country, which relies on
discreet banking services to attract foreign cash.
 

Liechtenstein is one of three countries on the Organisation
for Economic Cooperation and Development's (OECD) tax-haven
black-list, alongside Andorra and Monaco.
 

Any Briton found to have evaded tax by putting money in a
Liechtenstein account faces fines of up to 100 percent of the
money owed to British tax authorities and, if deception is
proven, up to seven years in prison, The Sunday Times said.
 

German media have reported that Germany's BND intelligence
service paid an informant around 4.2 million euros for a compact
disk containing Liechtenstein bank data on over 1,000 tax
evasion suspects.
 

Germany's Finance Ministry confirmed the German government
paid for information. Liechtenstein accused Germany of illegally
acquiring the data.
 

The German tax probe has focused on suspicions that hundreds
of rich Germans evaded taxes by parking money in Liechtenstein's
banks. It has cost Deutsche Post's <DPWGn.DE> chief executive
his job and threatens to claim other high-profile victims.
 

Shares in Liechtenstein-based banks have been hit hard by
concerns the German probe could hurt their reputations and
business.
 

Prime Minister Otmar Hasler defended his country's policies
this week but also pledged to cooperate with Europe in combating
fraud.

LONDON, Feb 24 (Reuters) - Britain's tax authority is
investigating up to 100 British citizens with bank accounts in
secretive Liechtenstein after buying data from an informant in a
similar move to Germany, a newspaper reported on Sunday.
 

Her Majesty's Revenue and Customs (HMRC) paid the informant
100,000 pounds ($196,500) for the bank details of scores of
wealthy Britons, The Sunday Times said, adding that the records
had been stolen from the tax haven.
 

An HMRC spokesman declined to confirm the report, but said:
"HMRC is using the powers given to it by parliament to protect
the UK Exchequer from those who seek to hide behind secrecy laws
to deprive the UK of tax revenues to which it is entitled."
 

A major German investigation into tax dodging centring on
Liechtenstein and its secretive banks has sparked a backlash in
Germany against the tiny Alpine country, which relies on
discreet banking services to attract foreign cash.
 

Liechtenstein is one of three countries on the Organisation
for Economic Cooperation and Development's (OECD) tax-haven
black-list, alongside Andorra and Monaco.
 

Any Briton found to have evaded tax by putting money in a
Liechtenstein account faces fines of up to 100 percent of the
money owed to British tax authorities and, if deception is
proven, up to seven years in prison, The Sunday Times said.
 

German media have reported that Germany's BND intelligence
service paid an informant around 4.2 million euros for a compact
disk containing Liechtenstein bank data on over 1,000 tax
evasion suspects.
 

Germany's Finance Ministry confirmed the German government
paid for information. Liechtenstein accused Germany of illegally
acquiring the data.
 

The German tax probe has focused on suspicions that hundreds
of rich Germans evaded taxes by parking money in Liechtenstein's
banks. It has cost Deutsche Post's <DPWGn.DE> chief executive
his job and threatens to claim other high-profile victims.
 

Shares in Liechtenstein-based banks have been hit hard by
concerns the German probe could hurt their reputations and
business.
 

Prime Minister Otmar Hasler defended his country's policies
this week but also pledged to cooperate with Europe in combating
fraud.

Date created : 2008-02-24

COMMENT(S)