Clause 78
Finance (No. 2) Bill
5:30 pm
Philip Dunne (Ludlow, Conservative)
I was interested to note that the Paymaster General referred specifically to acquisitions abroad within the sector of operation of the UK resident company or parent entity. I shall be grateful if she could clarify whether she is ruling out international diversification as a means of tax avoidance when there may be a bona fide reason for a UK-based company to acquire a company in a different sector but with some similarities. Is that intended to be caught by the measure?