‘Life-changing consequences:’ HMRC warns on risks of hiding wealth offshore in new crackdown

UK is cracking down meanwhile the USA is strangely silent.

‘Life-changing consequences:’ HMRC warns on risks of hiding wealth offshore in new crackdown –

“Penalties are increasing for those who are not paying the right amount of tax on their offshore assets, and you can even face criminal prosecution,” the one-page warning from HMRC said. “Under new rules, you could face further penalties based on the value of the assets as well as the tax due, resulting in potentially life-changing consequences.” http://www.businessinsider.com/hmrc-warning-dont-hide-wealth-offshore-transparency-crackdown-2017-8?&platform=bi-androidapp