The International Monetary Fund says efforts to stop tax fraud must be a priority for debt ridden nations, like the UK.
As countries struggle to find palatable ways to repay the massive debts, built up over the last decade of public sector overspending, politicians increasingly push the line that the silver bullet to slay the vampire of debt is to catch and punish the bogey-man army of tax evaders. In what is either a sign of things to come, or a doomed bid for more bureaucrats, Carlo Cottarelli, the IMF’s tax chief wants to create a “World Tax Organisation” to fight tax evasion.
What does it mean for me
In reality, not much. But the press attention stories like this get all help to persuade UK politicos that more aggressive tax investigations could be successful and create a public climate of acceptance for yet more HMRC raids on small businesses.
If you are worried about an HMRC Tax Investigation, then Lynam Tax Enquiry Experts can help you.
Call Paul Lynam today for a friendly, confidential and no obligation discussion. Call now on 0845 643 9997.