Japan gets details on 2 mil. offshore accounts to combat tax evasion

Japan’s National Tax Agency said Tuesday it received details on around 2.06 million offshore accounts held by Japanese individuals and corporations in 86 countries and regions in the year to June 2020, under an internationally agreed standard to prevent tax evasion. It also released for the first time the total balance held in the accounts, which amounted to roughly 10 trillion yen ($95.3 billion). The information was attained through the Common Reporting Standard, a global model approved by the Organization for Economic Cooperation and Development to ensure tax compliance. The tax agency said…

Read More

HEDGE accordingly