Tax Transparency’ (‘TT’) is the term adopted to describe the objective of ensuring that Tax payers business activities are not associated with any arrangements which are known or suspected to be designed for tax evasion.
Tax evasion, and in most countries the deliberate facilitation of tax evasion, is a criminal offence. Entities and especially Banks may be subject to legislation which imposes strict liability where staff or other persons acting for them facilitate tax evasion unless it can be demonstrated that reasonable preventative procedures are in place. Deliberately and dishonestly ‘turning a blind eye’ to evidence of tax evasion is regarded as facilitation.
In this course we will discuss: