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UK Takes Decisive Action Against Global Crypto Tax Evasion

1 year ago

Today, on November 10, 2023, a joint statement was issued, marking the world’s first concerted move against offshore crypto tax evasion. A historic effort by 48 nations to combat crypto-enabled tax evasion. This collaborative endeavor aims to bridge significant gaps in the global tax system and potentially recover billions in lost revenue. This initiative follows the UK’s pivotal leadership in the 2021 G20/OECD global tax deal, emphasizing the commitment to thwart corporate tax avoidance and ensure equitable tax payments in the appropriate jurisdictions. At the forefront of this global commitment is the Crypto-Asset Reporting Framework (CARF), a groundbreaking tax transparency…

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