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Accountants face tighter rules on tax avoidance


EU finance ministers have agreed that accountants, bankers and lawyers will face penalties if they fail to report aggressive tax-avoidance schemes. Advisers who design cross-border schemes with tax-avoidance "hallmarks" will have to report the scheme’s details to national authorities within 30 days of their creation. Separately, EU finance ministers have added the Bahamas to the bloc's tax blacklist, months after the British overseas territory was caught up in the Paradise Papers leak of offshore secrets.

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