Nigel Mills
Main Page: Nigel Mills (Conservative - Amber Valley)Department Debates - View all Nigel Mills's debates with the HM Treasury
(8 years, 9 months ago)
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Mr Speaker
Order. I note in passing that over the past few minutes further Members have started bobbing. There is no problem with that, but if it delays the Minister he will know why.
Nigel Mills (Amber Valley) (Con)
When the Minister makes large businesses publish their tax strategy, will he also make them publish their tax returns so that we can all see how much tax they are declaring and how they got from their cash profit to that tax bill? That would improve transparency and confidence in the system.
Mr Gauke
The United Kingdom’s position on taxpayer confidentiality is hardly unique. Indeed, it is the mainstream approach. Knowing what a company’s tax liability might be depends on a detailed understanding of the whereabouts of its assets and activities, and not all of that information would necessarily be apparent from a straight tax return. As I have said, there is greater transparency now because companies have to set out their strategies, which has never been the case before.