Written question asked by Lord Dykes (Liberal Democrat), in the House of Lords. It was answered by Lord Sassoon (Conservative) on Wednesday, 31 October 2012.
Taxation
- Question
-
To ask Her Majesty’s Government what measures they will introduce to ensure that United Kingdom-based foreign-owned companies pay appropriate corporate and other commercial taxes on profits and sales occurring within the United Kingdom. [HL2770]
- Answer
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The Government are alert to the risk that some companies may try to structure their affairs so that profits from UK-based economic activity are not taxed here. The UK system of taxing multinational business is based on internationally agreed principles that determine how much profit each country should tax. The UK works closely with other jurisdictions to share information and ensure a more effective approach to cross-border tax avoidance.
The UK has specific tax rules to combat tax avoidance by international companies and supports international action on base erosion and profit-shifting, which has been endorsed by the G20.
Secondary information
- Type
- Written question
- Reference
- 740 cc144-6WA; HL2770
- Session
- 2012-13
- Subjects
- Taxation Multinational companies
- Link
- View this Written question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2013-11-20 08:44:09 +0000
- URI
- http://hansard.intranet.data.parliament.uk/Lords/2012-10-31/12103157000232
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://hansard.intranet.data.parliament.uk/Lords/2012-10-31/12103157000232
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://hansard.intranet.data.parliament.uk/Lords/2012-10-31/12103157000232