Clause 69 - Forward premiums and discounts under currency contracts
Finance Bill
6:45 pm
Ms Ruth Kelly (Financial Secretary, HM Treasury; Bolton West, Labour)
I have made the position clear. We seek to avoid deliberate tax evasion. In one sense, it is updating an existing measure providing that tax should not be avoided. Companies should have no difficulty in interpreting what is and what is not tax avoidance. We do not want to miss the opportunity of avoiding leakage to the Exchequer, which the clause seeks to stop.