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US: Enforced Bank Closure in Puerto Rico prompts Tax Investigations of foreign Accountholders

news.bloomberglaw.com/banking-law/puerto-rico-shutters-bank-tied-to-tax-evasion-money-launderingwww.irs.gov/pub/irs-utl/j5-media-release-7-1-2022.pdfwww.rsmuk.com/ideas-and-insights/deregulation-of-euro-pacific-bank-and-uk-tax-evasionwww.mishcon.com/news/hmrc-issues-warning-to-taxpayers-following-euro-pacific-bank-probewww.ato.gov.au/Media-centre/Media-releases/Global-tax-chiefs-stand-by-Puerto-Rico-s-financial-institution-regulator-as-bank-is-shut-down/pinpoint.cch.com.au/news/csh-da-filter!WKAP_TAL_YINTTNEWS_REFERENCE/legauUio3524485sl1358577654/j5-supports-puerto-rico-regulator-s-decision-to-shut-down-euro-pacific-international-bankwww.rpc.co.uk/perspectives/tax-take/hmrc-investigating-hundreds-of-uk-customers-of-puerto-rico-based-euro-pacific-bank/#page=1What happened at Euro Pacific Bank? – Stewarts (stewartslaw.com) 0
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EU: Commission launches Consultation addressing Intermediaries who facilitate Tax Evasion

ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13488-Tax-evasion-aggressive-tax-planning-in-the-EU-tackling-the-role-of-enablers_enwww.europarl.europa.eu/committees/en/regulating-intermediaries-to-ensure-a-fa/product-details/20220331CHE10043taxadviserseurope.org/project/professional-judgment-in-tax-planning-an-ethics-quality-bar-for-all-tax-advisers/ See also:bit.ly/3uDEhmS 0
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US: Court of Appeals Ruling affirms IRS Position that abusive microcaptive Insurance Transactions are Shams

www.irs.gov/newsroom/us-court-of-appeals-ruling-affirms-irs-position-that-abusive-microcaptive-insurance-transactions-are-shamswww.ca10.uscourts.gov/sites/ca10/files/opinions/010110683986.pdfwww.irs.gov/newsroom/irs-warns-taxpayers-of-dirty-dozen-tax-scams-for-2022www.irs.gov/newsroom/irs-wraps-up-2022-dirty-dozen-scams-list-agency-urges-taxpayers-to-watch-out-for-tax-avoidance-strategiesgtlawinfo.com/rv/ff009347213fed23823f79b27049a07662a43006www.huntoninsurancerecoveryblog.com/2022/07/articles/captive-insurance/irs-scrutinizes-legitimacy-of-captive-insurance-arrangement/#page=1 See also:www.steptoe.com/en/news-publications/gao-study-finds-irs-audit-and-investigations-of-micro-captive-insurance-deficient.html 0
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UK: Defending personal Liability for Tax Avoidance Schemes as a Director

www.keystonelaw.com/keynotes/defending-personal-liability-for-tax-avoidance-schemes-as-a-directorwww.rpc.co.uk/perspectives/tax-take/directors-did-not-breach-fiduciary-duties-in-relation-to-insolvent-company/#page=1www.dacbeachcroft.com/en/articles/2022/july/directors-not-liable-for-breach-of-duty-for-using-tax-saving-scheme-where-professional-advice-followed-hunt-v-richard-balfour-lynn-and-others/ 0
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UK: High Court finds no Duty owed to Investors by Barrister advising Tax Scheme Promoter

www.rpc.co.uk/perspectives/professional-and-financial-risks/duties-of-care-to-third-parties-in-tax-avoidance-schemes/#page=1hsfnotes.com/tid/2022/03/08/high-court-finds-no-duty-owed-to-investors-by-barrister-advising-scheme-promoter/#page=1www.taylorwessing.com/en/insights-and-events/insights/2022/03/dqr-assumption-of-responsibility-tax-schemes-and-investorswww.frpadvisory.com/blog/defending-tax-professional-negligence-claims-what-insurers-need-to-know/www.dacbeachcroft.com/en/articles/2022/march/eminent-tax-barrister-defeats-claims-brought-by-scheme-investors/beale-law.com/article/sharing-is-caring-although-dont-expect-a-duty-of-care-to-always-arise-for-shared-professional-advice-mcclean-and-others-v-thornhill-qc-2022-ewhc-457/www.wilberforce.co.uk/be-careful-what-you-assume-professional-negligence-claims-against-tax-advisors-following-mclean-v-thornhill/ 0
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