On 7 September, a news release from HMRC announced that it is currently writing to around 600 people in the UK who used the Euro Pacific Bank (EPB) urging them to check their tax position and make any corrections to their tax affairs. The Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) suspended the operations of the EPB on 30 June for breaching its capital requirements, and it has since entered a liquidation process. Hundreds of civil and criminal investigations involving EPB have already been launched across the J5 jurisdictions of the UK, Canada, Australia, Netherlands and the US.
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