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The Wall Street Journal

UK Tax Evasion Law Creates Cross-Border Concerns

The UK has implemented the new Criminal Finances Act, which holds companies criminally liable for the facilitation of tax evasion by employees. London-based White & Case partner Jonathan Pickworth said: "Tax advisers, professional services firms and financial institutions such as banks and investment managers will likely face the greatest risks, but the legislation applies broadly so no sector should be complacent when it comes to compliance. Large businesses with complex cross-border operations also need to pay particularly close attention to the new rules." Click here to read more.