Treasury written question – answered at on 14 January 2013.
To ask the Chancellor of the Exchequer what steps he is taking to reduce the number of loopholes in the tax system so that larger corporations pay higher amounts of tax.
In December's' autumn statement the Government closed down three corporation tax avoidance schemes aimed at large companies, and thus protected hundreds of millions of pounds in revenue.
Since that time, we have also closed down a loophole that sought to exploit tax rules to generate artificial loss relief from a property business. To underscore the Government's commitment to tackling tax avoidance, on
Following the Chancellor's call for international co-operation to strengthen international tax standards, the UK, Germany and France have pledged resources to the OECD to speed up work to tackle profit-shifting and base erosion at the global level.
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