Part of the debate – in the House of Lords at 11:06 am on 25 February 2016.
Lord Ashton of Hyde
Lord in Waiting (HM Household) (Whip)
11:06,
25 February 2016
I completely agree with the noble Lord and that is why we are actively seeking to update our tax treaties, particularly with developing countries. All modern tax treaties include anti-abuse measures and provide for an exchange of information so that we can bring them up to date and thus enable those countries to increase their tax rate, but it must be remembered that individual developing countries are also aware of the effects on investment of changing their local tax rates.