CDC: Offshore Funds

(asked on 21st February 2020) - View Source

Question to the Department for International Development:

To ask the Secretary of State for International Development, what steps he takes to monitor the proportion of CDC Group’s investments held offshore or in offshore entities; and what the value was of CDC’s offshore investments at 31 March 2019.


Answered by
James Duddridge Portrait
James Duddridge
This question was answered on 2nd March 2020

CDC invests in accordance with its policy on the payment of taxes and the use of offshore financial centres which is available on CDCs website. Under this policy, which has been agreed with DFID and is reviewed annually, CDC’s preference is to invest directly into the country in which the investee company’s business operations are located. Where CDC does use an offshore financial centre, it only uses those that are compliant with international tax transparency standards, as monitored by the Global Forum on Transparency and Exchange of Tax information.

As of 31st March 2019, 25% of CDC’s investments are held in CDC investment companies not domiciled in the UK.

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