Banks ordered to reveal offshore account details

Stodell, Hannah
August 2009
Money Marketing;8/20/2009, p10
The article reports on the requirements for over 300 and foreign banks to submit details of taxpayers with offshore accounts to Her Majesty's Revenue & Customs (HMRC) in Great Britain. It states that the Tax Chamber of the first-tier tribunal has told the 308 banks including the foreign banks to disclose the information about the tax amnesty to HMRC. According to the article, the moves of Tax Chamber will accordingly allow the HMRC to check on the new disclosure opportunities.


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