Parliament Reports on Multinationals and Tax Avoidance

The House of  Lords Economic Affairs Committee has reported that there is a sense some multinationals can operate to treat UK tax as  voluntary. They noted the steady stream of stories about foreign-owned companies  clearly doing good business here but paying little or no corporation tax. Yet  UK-based businesses, which follow the book, have to pay. The Committee felt this  damaged the economy, undermined trust in the tax system and made recommendations  for improvement.

Well tax  fans, the avoidance by multinationals story goes on and on. But what was new was highlighting the damage to and discrimination against UK-based business in the  UK tax  system.

Eamon  McNicholas

Tax Barrister, Accountant

 

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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