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Retrieved on: 2024-03-06 17:41:30
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Summary
The UK's consultation focuses on implementing the OECD's Cryptoasset Reporting Framework (CARF) and amendments to the Common Reporting Standard (CRS) to improve tax transparency and tackle offshore tax avoidance and evasion. It invites input on optional elements and effective execution. The consultation has implications for entities dealing with international taxation, offshore finance, information security, and seeks to conform to standards like AEOI while considering the implications for entities like HM Revenue and Customs and offshore banks in the United Kingdom.
Article found on: www.gov.uk
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