The Australian Consumer and Competition Commission (ACCC) has this morning issued a warning about kidnap and ransom threats made against, in particular, Chinese residents in Australia with more than 1,700 cases reported so far in 2018.
Of course, no one should evade tax. It is and always has been a tenet of tax law that declaring income and assets for tax is the responsibility of the taxpayer. But the OECD has long wanted to gain xray vision into bank accounts and with its "Automatic Exchange of Information" project, every bank account in the world will be subject to "automatic" inspection by "participating jurisdictions." Watch out for blacklists of jurisdictions that argue that there are local legal obstacles to free access to account information.
