Open

Coming up

Don't miss

Replay


LATEST SHOWS

THE WORLD THIS WEEK

The World This Week - 01 August 2014 (part 2)

Read more

MEDIAWATCH

Coverage of Gaza in the Israeli media

Read more

REPORTERS

1914-1918: The Depths of Hell

Read more

THE WORLD THIS WEEK

The World This Week - 01 August 2014

Read more

THE INTERVIEW

Exclusive: Israel's US ambassador speaks to FRANCE 24

Read more

#THE 51%

World War One: The war that changed women’s lives

Read more

FRANCE IN FOCUS

Ségolène Royal goes for green

Read more

THE OBSERVERS

A look back at some of the Observers' best stories

Read more

DEBATE

Argentina Defaults: Kirchner Cries Foul Over 'Vulture Funds' (part 2)

Read more

  • Hamas denies capturing Israeli soldier as Gaza truce lies in tatters

    Read more

  • Scores killed in China factory explosion

    Read more

  • Exclusive: Israel's US ambassador speaks to FRANCE 24

    Read more

  • Police chokehold caused NYC death, coroner rules

    Read more

  • France tops requests to erase online footprint, says Google

    Read more

  • Air France ground workers to strike on August 2

    Read more

  • Rogue general denies Islamist seizure of Benghazi

    Read more

  • Ugandan court strikes down anti-gay legislation

    Read more

  • 1914-1918: The Depths of Hell

    Read more

  • Regional summit to tackle deadly Ebola outbreak

    Read more

  • French hospital to open wine bar for terminally ill patients

    Read more

  • Video: Tipping is dying out in French café culture

    Read more

  • €2.5 million in cocaine ‘disappears’ from Paris police HQ

    Read more

  • Appeal court keeps French rogue trader Kerviel in jail

    Read more

  • Interactive: France’s new plan to counter jihadism in Africa

    Read more

  • Ukrainian army suffers losses in separatist attack

    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)