UK Govt. reportedly ready to back plans to force all European companies to reveal where they pay tax

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2 March 2013

UK firms to be forced to reveal where they pay tax, as we reveal one in four top names pay no corporation tax at all

Author: Alex Hawkes, Mail on Sunday [UK]

Britain is to drop its opposition to plans that will force all European companies to say what tax they pay wherever they operate. After agreement in Brussels...that Europe’s banks must reveal the taxes paid in each country, the Treasury is understood to be backing proposals to widen this to all firms…The Treasury has said only that it supports the move for mining groups, but it is thought to be ready to change tack. The news comes as Financial Mail reveals the UK tax bills of more than half of the FTSE 100 blue-chip index…Our research, based on the companies’ accounts, shows that the 53 companies that do detail their taxes paid just over £6  billion in the UK – and £17.5billion worldwide. While 12 companies paid no UK tax, according to the latest annual reports, a further nine have bills lower than £10million. [includes table referring to Experian, RSA Insurance, G4S, Vodafone, Rolls-Royce Group, IMI, Vedanta, TUI Travel, Tate & Lyle, Smiths Group, Intertek, British American Tobacco; table includes statements by each of these 12 companies. Also refers to Shell, Centrica, HSBC]

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24 January 2013

Tax avoidance - an introduction

Author: compiled by Business & Human Rights Resource Centre

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