Treasury Announces Net £1 billion in 2013 Dodging
Whilst the Tax Office held its conference on tax avoidance, the Treasury announces how much has been lost in tax avoidance this year alone.
The Tax Office has safeguarded revenue of more than £1 billion this year thanks to the tackling of corporate tax avoidance. David Gauke, the Exchequer Secretary to the Treasury, announced the figure at the first HMTC Stakeholder Conference that was held in London.
It was also announced that P&O and Land Securities were amongst the companies that have been involved in court cases relating to disputes of tax avoidance.
P&O, a British shipping and logistics firm, claims that it aimed to get an extra £14 million in tax relief through boosting credit due for tax paid on dividend income, artificially, it was announced by the HMRC.
The Organisation for Economic Cooperation and Development is set to publish a plan of action on Friday to create a fairer, more transparent global tax system.
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