Question to the Foreign, Commonwealth & Development Office:

To ask Her Majesty’s Government how many British territories have special tax regimes and what action they are taking to address this.

​The Overseas Territories (OTs) are responsible for setting their own rates of taxation, and the Government respects their right to compete in this area. All relevant OTs have committed to greater tax transparency by adopting the new global standard for the automatic exchange of financial account information, which will combat tax evasion. Her Majesty's Revenue and Customs have begun to receive information on the accounts held in OTs by UK taxpayers, one year earlier than from the rest of the world.