Economic Affairs Committee - First Report
Tackling corporate tax avoidance in a global economy: is a new approach needed?

Here you can browse the report which was ordered by the House of Lords to be printed 23 July 2013.


Terms of Reference


Chapter 1: Introduction

Why this report?

Box 1: How multinationals can lower their tax bills

Chapter 2: Corporation tax in the UK and its international dimension

The UK Corporation Tax

Why tax corporations?



Allowances and Deductions

Revenue Yield

Table 1: Corporation Tax Revenues as % of GDP

Table 2: Contribution by tax to total HMRC receipts 2012-3 (%)

The International Dimension

Double taxation treaties

Arm's length transfer pricing

Transparency and exchange of information

Flaws in the existing system


Anti-avoidance measures already taken in the UK

Corporate Tax Payers

Tax Practitioners

The Critics

The broader picture

Chapter 3: What changes should be made in the UK?

Tax reforms

Reform treatment of debt & equity

Other Unilateral measures

Addressing compliance

Naming & shaming

Code of Conduct and Regulation of Tax Advisers

Public procurement



Chapter 4: International reform

The OECD Base Erosion and Profit Shifting project

Options for radical change

Unitary taxation

Destination-based tax on corporate cash flows

Chapter 5: HM Revenue & Customs (HMRC)




Chapter 6: Treasury Review

Chapter 7: Summary of Conclusions and Recommendations

Appendix 1: List of members and declarations of interest

Appendix 2: List of Witnesses

Appendix 3: Call For Evidence

Appendix 4: Glossary

Appendix 5: Tax Treatment of Debt and Equity

Evidence is published online at and available for inspection at the Parliamentary Archives (020 7219 5314)

References in footnotes to the Report are as follows:

Q refers to a question in oral evidence.

Witness names without a question reference refer to written evidence.

previous page contents next page

© Parliamentary copyright 2013