Tim Loughton
Main Page: Tim Loughton (Conservative - East Worthing and Shoreham)Department Debates - View all Tim Loughton's debates with the HM Treasury
(11 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Fiona Mactaggart (Slough) (Lab)
8. What plans he has to increase corporation tax payments in the UK by large multinational companies; and if he will make a statement.
Tim Loughton (East Worthing and Shoreham) (Con)
13. What steps he is taking to ensure that international companies pay the appropriate levels of tax on revenues earned in the UK.
Jane Ellison (Battersea) (Con)
15. What steps he is taking to improve international co-operation to tackle tax avoidance. [R]
Mr Gauke
It is worth pointing out that these places are not simply colonies in which we can direct orders; they have a degree of independence. We are working with other countries at the G20 and the G8 and through the OECD to ensure that we have a modernised tax system, which includes addressing jurisdictions where there is a lack of transparency.
Tim Loughton
Does the Minister agree with me on this very simple principle: companies should expect to be liable for appropriate tax in the UK on goods and services paid for and used by people and organisations based in the UK?
Mr Gauke
The point I would make is that we want to have an international tax system under which economic activity is taxed where that economic activity takes place. The fact is that the international rules have not moved with the times, but they need to do so, and I am delighted that the Chancellor of the Exchequer is leading the way in this debate.