130 Countries Now Sharing Financial Information

Montenegro today became the 130th nation to join international efforts to combat tax evasion and avoidance: by signing up to the Common Reporting Standard (CRS): whereby countries automatically share financial and other tax related data into a common global pool: available to all the member state tax authorities.

Montenegro, signed the multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention), in Paris today. The Organisation for Economic Co-operation and Development (OECD) said that: “Montenegro is the 130th jurisdiction to join the Convention. The Convention is the primary instrument for swift implementation of the Standard for Automatic Exchange of Financial Account Information in Tax Matters (CRS). The CRS enables more than 100 jurisdictions to automatically exchange offshore financial account information”.

What Does This Mean For Me?
If you are a UK resident and have a bank account or other financial institution account, or any assets outside the UK – and you have not declared all your past income and gains – then you should seriously consider making a voluntary disclosure now – before it is too late. You could still get immunity from prosecution and preferential penalties . You almost certainly need specialist help.

How can Lynam Tax Disclosure Experts Help Me?
Lynam Tax specialists have huge experience in assisting clients with successful voluntary disclosures relating to offshore income and assets. We can ensure that you get the best deal currently available.

*Why not have a free confidential discussion with one of our experts right now?
Simply call:
Paul Lynam: 0845 643 9997
Andrew Nutbrown: 07718 778710