The UK Parliament Public Accounts Committee has released a report warning that the true cost of tax evasion is likely being vastly underestimated. --- £5.5billion lost to tax evasion could be significant underestimate, PAC report warns HMRC not sufficiently curious on true scale of evasion, with no strategy for tackling it. Read the report Read the report (PDF) Public Accounts Committee The true cost of tax evasion is likely being vastly underestimated, as loopholes in the current system make it all too easy for fraudulent behaviour to go unchecked. In a report released today, the Public Accounts Committee (PAC) is...