Financial Transparency Coalition

This is the Tax Code of Conduct for Banks on which the government is now consulting:

OVERVIEW

1. The Government expects that banking groups, their subsidiaries, and their branches operating in the UK, will comply with the spirit, as well as the letter, of tax law, discerning and following the intentions of Parliament.

1.1 This means that banks should:

• adopt adequate governance to control the types of transactions they enter into;

• not undertake tax...