MPs debated public country-by-country reporting in Westminster Hall on 22 November. Financial secretary to the Treasury Mel Stride responded on behalf of the government, confirming that it will ‘continue to work towards bringing in not just country-by-country reporting as we have at the moment, but public country-by-country reporting’. However, he re-stated the government’s position that the UK acting unilaterally ‘will not work, for at least three reasons’. Unilateral action would:
make the UK less competitive than other tax jurisdictions;
make it difficult to get public disclosure if a UK company had associated non-UK companies in other jurisdictions; and
make standardisation of the rules more difficult.
Westminster Hall debates provide MPs with an opportunity to debate local or national issues and to receive a response from a minister. See http://bit.ly/2nf7eVB.
MPs debated public country-by-country reporting in Westminster Hall on 22 November. Financial secretary to the Treasury Mel Stride responded on behalf of the government, confirming that it will ‘continue to work towards bringing in not just country-by-country reporting as we have at the moment, but public country-by-country reporting’. However, he re-stated the government’s position that the UK acting unilaterally ‘will not work, for at least three reasons’. Unilateral action would:
make the UK less competitive than other tax jurisdictions;
make it difficult to get public disclosure if a UK company had associated non-UK companies in other jurisdictions; and
make standardisation of the rules more difficult.
Westminster Hall debates provide MPs with an opportunity to debate local or national issues and to receive a response from a minister. See http://bit.ly/2nf7eVB.
