This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/2018/feb/06/money-laundering-bill-offers-chance-to-tackle-tax-loopholes
The article has changed 5 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Money laundering bill offers chance to tackle tax loopholes | Money laundering bill offers chance to tackle tax loopholes |
| (11 days later) | |
| Britain is right to tackle the legal loopholes which allow widespread offshore tax-dodging worldwide (Tax crackdown has failed, says Labour, as only third of £1bn target is recovered, 5 February). As investigations like the Paradise Papers have shown, British overseas territories play a key role in facilitating tax avoidance, with cash stashed in tax havens for the low tax rates and financial secrecy. When companies don’t pay their share, it is often poor countries which are hit hardest – low tax revenue means less money in the pot for vital services likes schools and hospitals. There is strong cross-party support – most notably from MPs Margaret Hodge and Andrew Mitchell – for bringing in public registers of the real owners of companies in the overseas territories, which would help lift the lid on where companies should pay their dues. The sanctions and anti-money laundering bill currently under consideration by parliament offers the UK government a ripe opportunity to introduce such a measure. Securing this amendment would help the UK fulfil its commitment to greater tax transparency and free up more money to help fight poverty around the world.Sally CopleyHead of Policy, programmes and campaigns, Oxfam GB | Britain is right to tackle the legal loopholes which allow widespread offshore tax-dodging worldwide (Tax crackdown has failed, says Labour, as only third of £1bn target is recovered, 5 February). As investigations like the Paradise Papers have shown, British overseas territories play a key role in facilitating tax avoidance, with cash stashed in tax havens for the low tax rates and financial secrecy. When companies don’t pay their share, it is often poor countries which are hit hardest – low tax revenue means less money in the pot for vital services likes schools and hospitals. There is strong cross-party support – most notably from MPs Margaret Hodge and Andrew Mitchell – for bringing in public registers of the real owners of companies in the overseas territories, which would help lift the lid on where companies should pay their dues. The sanctions and anti-money laundering bill currently under consideration by parliament offers the UK government a ripe opportunity to introduce such a measure. Securing this amendment would help the UK fulfil its commitment to greater tax transparency and free up more money to help fight poverty around the world.Sally CopleyHead of Policy, programmes and campaigns, Oxfam GB |
| • Join the debate – email guardian.letters@theguardian.com | • Join the debate – email guardian.letters@theguardian.com |
| • Read more Guardian letters – click here to visit gu.com/letters | • Read more Guardian letters – click here to visit gu.com/letters |
| Tax avoidance | Tax avoidance |
| Corporate governance | Corporate governance |
| Tax havens | Tax havens |
| Paradise Papers | Paradise Papers |
| Margaret Hodge | Margaret Hodge |
| Andrew Mitchell | Andrew Mitchell |
| letters | letters |
| Share on Facebook | Share on Facebook |
| Share on Twitter | Share on Twitter |
| Share via Email | Share via Email |
| Share on LinkedIn | Share on LinkedIn |
| Share on Pinterest | Share on Pinterest |
| Share on Google+ | Share on Google+ |
| Share on WhatsApp | Share on WhatsApp |
| Share on Messenger | Share on Messenger |
| Reuse this content | Reuse this content |