What are the consequences for Wealth Advisors if they don’t take the new tax guidelines and reporting seriously? - Vikna Rajah

Vikna Rajah of Rajah & Tann

Feb 7, 2019

Vikna Rajah, Partner, Head of Tax, Trust & Private Client at Rajah & Tann discusses the consequences for Wealth Advisors if they don’t take the new tax guidelines and reporting seriously.

Jump to section:

1. What are the consequences for Wealth Advisors if they don’t take the new tax guidelines and reporting seriously?

Video transcript

1. What are the consequences for Wealth Advisors if they don’t take the new tax guidelines and reporting seriously?

The institutions, the financial institutions, could actually be fined. And, under Section 105 M, there’s also potential imprisonment of up to two years. So, very, serious consequences.