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Home > Business and Economics > Economics > International economics > Tax in developing countries: increasing resources for development, fourth report of session 2012-13, Vol. 1: Report, together with formal minutes, oral and written evidence(2012-13 130 House of Commons Papers)
Tax in developing countries: increasing resources for development, fourth report of session 2012-13, Vol. 1: Report, together with formal minutes, oral and written evidence(2012-13 130 House of Commons Papers)

Tax in developing countries: increasing resources for development, fourth report of session 2012-13, Vol. 1: Report, together with formal minutes, oral and written evidence(2012-13 130 House of Commons Papers)


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About the Book

This report highlights the importance of tax collection in developing countries, and recommends that the UK's aid programme should increase its focus on supporting tax authorities. This is equally valid for all forms of taxation, including VAT, personal income taxation and corporate taxation. It is also essential that taxes are paid on a fair and equal basis by all. New tax rules on developing countries, the Controlled Foreign Companies (CFC) rules are designed to discourage UK-owned corporations from using tax havens. Traditionally these rules have applied to all UK-owned corporations - both those operating in the UK and those operating overseas. Under the new rules, however, this will apply only to corporations operating in the UK, making it easier for those operating in developing countries to use tax havens. A number of NGOs have campaigned vigorously against the changes, with ActionAid estimating that developing countries may lose up to GBP4 billion in tax revenues as a result. The UK Government does not accept this estimate, but does not deny that there will be some cost to developing countries. The Committee recommends that - subject to the outcome of its own analysis - the Government should consider reversing the change as a matter of urgency. The Committee also received evidence which argued that the Government should require UK-owned companies to report their financial information on a country-by-country basis, rather than on an aggregate basis. The Government is reluctant to act unless other EU countries do likewise, but the Committee believes that it should act unilaterally


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Product Details
  • ISBN-13: 9780215047533
  • Publisher: TSO
  • Publisher Imprint: Tso
  • Height: 300 mm
  • No of Pages: 167
  • Series Title: 2012-13 130 House of Commons Papers
  • ISBN-10: 0215047532
  • Publisher Date: 23 Aug 2012
  • Binding: Paperback
  • Language: English
  • Series Title: 2012-13 130 House of Commons Papers
  • Sub Title: increasing resources for development, fourth report of session 2012-13, Vol. 1: Report, together with formal minutes, oral and written evidence


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Tax in developing countries: increasing resources for development, fourth report of session 2012-13, Vol. 1: Report, together with formal minutes, oral and written evidence(2012-13 130 House of Commons Papers)
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