Arab Today, arab today britain to unveil plans to target taxdodgers
Last Updated : GMT 14:03:01
Arab Today, arab today
Arab Today, arab today

Britain to unveil plans to target tax-dodgers

Arab Today, arab today

Arab Today, arab today Britain to unveil plans to target tax-dodgers

London - AFP

British finance minister George Osborne was on Monday to announce a £154 million crackdown on tax avoidance and evasion as public anger rises over the tax arrangements of big-name multinational firms. The money, equivalent to $246.5 million or 190 million euros, will be used to establish a team of investigators to target high-earning individuals and companies who aggressively shield their earnings from the British government. The announcement will come a day after global coffee giant Starbucks said it was reviewing its tax affairs in Britain after it took a roasting from lawmakers and campaigners who accuse the chain of paying too little. The Seattle-based firm admitted that \"we need to do more\" although it would not confirm a report in Britain\'s Sunday Times newspaper that it will promise this week to increase the amount of corporation tax it pays. Under Osborne\'s plans, extra staff will enable authorities to expedite challenges against multinationals\' transfer pricing arrangements to stop them shifting profits out of Britain. A new HM Revenue and Customs \"centre of excellence\" will be also be created to train staff on tackling offshore evasion and avoidance. It is hoped that the funding, which will be spread over two years, will result in a £2 billion boost to tax coffers. \"The government is clear that while most taxpayers are doing their bit to help us balance the books, it is unacceptable for a minority to avoid paying their fair share, sometimes by breaking the law,\" said Osborne. \"We are determined to tackle this problem and HMRC are making good progress, but we are giving them additional tools to bring in more.\" The minister is due to reveal further measures in Wednesday\'s Autumn Statement, which is also expected to include details of a general anti-abuse rule to be introduced next year. Starbucks had previously confirmed that it did not pay any corporation taxes in Britain for the past three years on sales worth £400 million. It was able to do so by paying fees to other areas of its business -- such as \"royalty payments\" for the use of the brand -- which resulted in the company posting a series of losses and not having to pay any corporation tax. The Sunday Times said that since coming to Britain in 1998 the chain has paid just £8.6 million in corporation tax despite generating £3 billion in revenue. The Public Accounts Committee -- a panel of British lawmakers -- is due to release a report this week which is expected to criticise the measures used by corporations to avoid paying tax as the rest of the country grapples with tough austerity measures. The committee quizzed senior figures from Starbucks, US online retailer Amazon and Internet search giant Google. During the hearing Margaret Hodge, a Labour party lawmaker who chairs the committee, said Starbucks\' claim that its British division was unprofitable \"just doesn\'t ring true\". Starbucks has faced calls by activist groups for a consumer boycott in recent weeks.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain to unveil plans to target taxdodgers Arab Today, arab today britain to unveil plans to target taxdodgers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain to unveil plans to target taxdodgers Arab Today, arab today britain to unveil plans to target taxdodgers

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday