HMRC has admitted that it needs help from the US.HMRC will hand over sensitive trade data to its American counterpart in return for access to a state-of-the-art fraud detection system, which is too expensive for HMRC to build itself.
HMRC has admitted that its techniques for analysing trade-based money laundering are sub-standard, and that it is necessary to use the US system in order "for HMRC to be effective".
American Immigration and Customs Enforcement (ICE) is ready to grant HMRC access to Dartts (Data Analysis and Research for Trade Transparency System), its anti-fraud system, in return for the "regular exchanging of trade data with them on UK-US import-export declarations".
Dartts searches for trade anomalies and financial irregularities, which could indicate money laundering, customs fraud, smuggling or tax evasion.
HMRC have also admitted that it "would need somewhere to hold large amounts of data and more analysts to process the data, which would be a difficult decision in the current climate".
Is it altogether wise to hand over so much data to the US authorities, given their propensity for arresting British businessmen who visit the US?
Tax does have to be taxing.
The New Statesman, Britain's leading political magazine is delighted to announce that HMRC Is Shite has been nominated for a New Media Award in the category of Campaign For Change. The campaign for change award will go to the individual or organisation that has most effectively influenced opinions and behaviour through the use of new media technology. The winner of this award will champion a cause and provide information and tools to instigate change.
The full press release can be downloaded here.
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"
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