Oral question asked in the House of Lords, by Lord Dykes (Liberal Democrat). It was answered on Thursday, 25 February 2010.

Taxation: Monaco

Question: Is the Minister seriously confident that the Government are getting to grips with other tax havens? This issue remains a serious problem. What is the situation in Belize, which may involve certain Members of Parliament?

Answer: I am not briefed on the situation in Belize; I have never really taken much interest in what goes on there. Perhaps I should do so. The issue of international tax and tax havens is important and undoubtedly there is seepage of money which should be coming to the UK Exchequer. The total amount of interest received from Monaco on its interest withholding tax agreements paid to the UK in 2009 was £1.4 million. I have a sneaking suspicion that we should be seeking a little more than £1.4 million from Monaco. I shall pass by the opportunity to say anything on Belize on this occasion.

Secondary information

Type: Oral question
Reference: 717 c1085
Session: 2009-10
Oral question type: Supplementary
Chamber / Committee: House of Lords chamber
Subjects: Disclosure of information British nationality Overseas companies Overseas residence Taxation Monaco
Link: View this Oral question on www.publications.parliament.uk