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Clifford Chance

Clifford Chance


Failure to prevent the facilitation of tax evasion: The new extra-territorial UK criminal offence and its impact on Asian financial institutions

26 June 2017

The UK has enacted a new corporate criminal offence of failing to prevent the facilitation of tax evasion by employees and other associated persons. It is highly extra-territorial, applies to financial institutions and other businesses worldwide, and can apply to the evasion of non-UK taxes as well as UK taxes.

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