A partial amnesty is to be offered to people who have evaded tax by moving their funds into an offshore account. People that own up to tax evasion will pay back taxes with interest and be fined 10% of the tax owed. However, if they do not come forward they face a full Revenue & Customs investigation and fine equivalent to 100% of any tax owed. The Revenue has details on thousands of accounts held with the offshore branches of major EU and UK banks.
Offshore Tax Evaders Amnesty Bid
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