PART 10

Tax avoidance and evasion

Offshore activities

Asset-based penalties for offshore inaccuracies and failures
165
1
Schedule 22 contains provision imposing asset-based penalties on certain taxpayers who have been charged a penalty for deliberate offshore inaccuracies and failures.
2
That Schedule comes into force on such day as the Treasury may by regulations made by statutory instrument appoint.
3
Regulations under subsection (2) may—
a
commence a provision generally or only for specified purposes,
b
appoint different days for different provisions or for different purposes, and
c
make supplemental, incidental and transitional provision.