It was reported yesterday by the Guardian news service located in the United Kingdom that “more than 100 of Britain’s richest people have been caught hiding billions of pounds in secretive offshore havens, sparking an unprecedented global tax evasion investigation.”
The Guardian article included Chancellor George Osborne’s warning to alleged tax evaders, and their accountants and advisers: “The message is simple: if you evade tax, we’re coming after you.”
This is yet another example of a government cracking down on foreign ownership and investment. Anyone moving assets to foreign locations must do so with great care to ensure laws are followed and taxes are fully paid.
The full Guardian article can be found by clicking here.