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HMRC Brings in More than £500 million through AEoI

HMRC Brings in More than £500 million through AEoI

On May 17, 2022, in a keynote speech Lucy Frazer MP, Financial Secretary to the Treasury, stated that the increase in global transparency has seen HM Revenue and Customs (HMRC) bring in more than £500 million today as a direct result of the Automatic Exchange of Information Agreements (AEoI) such as the Common Reporting Standard (CRS). This comes as more than 100 jurisdictions have signed on to CRS with increased exchanges of taxpayer information.

Check out the keynote address here:

https://www.gov.uk/government/speeches/keynote-speech-by-lucy-frazer-mp-financial-secretary-to-the-treasury–2

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HMRC Brings in More than £500 million through AEoI

This document contains general information only and is not a substitute for accounting, tax, or any other professional advice or services. The information provided is considered accurate at the time of publishing and will not be updated with new regulation requirements.

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