HM Revenue and Customs (HMRC) recovered almost £3.2 billion in underpaid VAT from large businesses last year, thanks in part to its continued focus on compliance by e-commerce companies, an expert has said.
Additional income tax collected by a specialist anti-avoidance unit within HM Revenue and Customs (HMRC) increased by 80% last year, to reach £886 million, according to figures compiled by Pinsent Masons, the law firm behind Out-Law.com.
Financial institutions (FIs) in Singapore must establish customers' tax statuses, under the Common Reporting Standard (CRS) that came into force at the start of this year.
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