Criminal Finances Bill receives Royal Assent
A Bill to extend the powers of enforcement agencies to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism, has received Royal Assent.

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A Bill to extend the powers of enforcement agencies to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism, has received Royal Assent.
The Criminal Finances Act 2017 (CFA 2017) creates new criminal offences for corporations that fail to prevent their staff from facilitating tax evasion. There is a "domestic offence" which relates to the evasion of UK tax, and a "foreign offence" which covers evasion of foreign tax.
For the foreign offence to be committed, the offence must be recognised as an offence both in the UK and in the relevant foreign jurisdiction.
For these offences to be committed, an individual or a legal entity must have criminally evaded tax (althoug