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.


CONTENTS


Terms of Reference

Summary

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?

Origins

Rates

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

Compliance

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

Penalties

Transparency

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)

Enforcement

Oversight

Resources

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 www.parliament.uk/hleconomicaffairs 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.



 
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