Tax proposals won't curb massive corporate tax avoidance | ActionAid UK

Tax proposals won't curb massive corporate tax avoidance

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Ms Charlie Matthews, ActionAid Tax Advocacy Adviser, commenting on David Cameron’s Statement to Parliament on the Panama Papers, said:

“Today’s proposals will not be enough to curb the massive corporate tax avoidance connected to UK-linked tax havens like the British Virgin Islands.

“The Panama Papers have shown that British tax havens are being systematically used to hide wealth and avoid taxes in the world’s poorest countries. Asking the Overseas Territories and Crown Dependencies to confidentially share company ownership details is a smell step forward but is will simply not be enough to tackle this global problem. The Government must take even tougher action. 

“As the Prime Minister himself has said, ‘sunlight is the best disinfectant’. David Cameron should use the upcoming tax and anti-corruption summit to honour his promises and demand UK-linked tax havens publicly reveal who owns the countless shell companies registered there. Only this will help ensure that developing countries do not see tax revenue desperately needed to fight poverty disappearing into UK-linked tax havens."