March 18th, 2011
Caroline Lucas MP, leader of the UK Green Party, yesterday tabled a Bill in the House of Commons that would require
country-by-country reporting by all UK companies for all their activities.
Clause 3 of her
Tax and Financial Transparency Bill 2011 says:
Financial transparency: companies and trusts
(1)Every company, including a parent company, incorporated in or operating in the United Kingdom must publish in its annual financial statements prepared in accordance with the requirements of the Companies Act 2006 an analysis of the consolidated turnover and profit made by it in each jurisdiction in which it has a permanent establishment for taxation purposes as defined...
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March 14th, 2011
Tax Research UK published a new report this weekend on the administration of the UK’s Register of Companies by Companies House, the agency responsible for it on behalf of the UK government’s Department of Business, Innovation and Skills. The report extended the review to look at the administration of corporation tax returns by H M Revenue & Customs, the UK’s tax agency. In combination these are the two main agencies with responsibility for registering and regulating companies in the UK. The Task Force on Financial Integrity and Economic Development funded the study.
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March 14th, 2011
Tax Research UK published
a new report this weekend on the administration of the UK’s Register of Companies by Companies House, the agency responsible for it on behalf of the UK government’s Department of Business, Innovation and Skills. The report extended the review to look at the administration of corporation tax returns by H M Revenue & Customs, the UK’s tax agency. In combination these are the two main agencies with responsibility for registering and regulating companies in the UK. The Task Force on Financial Integrity and Economic Development funded the study.
The UK is an important location...
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March 10th, 2011
Back in 2009, when Task Force members began lobbying the UK government on what the G20’s crackdown on tax havens might look like, the response was that
automatic exchange of information was cumbersome, difficult, that there was far too much information to be useful – and, to paraphrase, that it would end up being shipped around the world in boxes which would cause a fire hazard.
But last week the UK parliament accepted the
Draft Penalties, Offshore Income etc. (Designation of territories) Order 2011. This measure, designed to crack down on UK taxpayers holding assets offshore,...
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