The Government has announced that it will bring forward plans to introduce a criminal offence for corporations who fail to stop their staff facilitating tax evasion. The offence will be introduced in legislation later this year. The criminal offence will occur where there has been a failure to prevent the enabling of tax evasion and organisations will be under an obligation to monitor the activities of their employees and agents acting on their behalf. The announcement comes after the Government confirmed the creation of a cross-agency taskforce to investigate all evidence of illegality that has emerged from the so-called ‘Panama Papers’.

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