UK MP puts spotlight on tax losses

by GD Thu 31 Mar 2011, 6:15 pm

A Labour Member of Parliament has called for the UK Treasury to reveal how much tax revenue the country loses because of Jersey.
In a written question in the House of Commons, Chris Bryant asked for estimates of tax lost through British-based companies using tax avoidance schemes in Jersey, the amount of tax lost through such schemes and what the Treasury was doing to restrict such schemes.
His inquiry comes just weeks after ministers announced changes to the zero-ten company tax system over pressure from the UK and EU.
The question prompted reference to a new strategy on Tackling Tax Avoidance being promoted by the UK Treasury, including proposals for a new sweeping General Anti-Avoidance Rule. (from JEP)