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UK Government Issues Guidance on Corporate Offence of Failure to Prevent Facilitation of Tax Evasion
20 September 2017
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HM Revenue & Customs has issued final guidance on the new corporate offence of failure to prevent the criminal facilitation of tax evasion, which will come into force on 30 September 2017.
This guidance will be the primary resource for companies developing compliance policies and procedures to avoid falling foul of the new offence.
The guidance outlines six key principles for companies’ prevention procedures: risk assessment, proportionate risk-based procedures, top-level commitment, due diligence, communication and training, and monitoring and review.
These mirror the six principles in the government guidance on the UK Bribery Act 2010, but emphasise the promotion of risk assessment.
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