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Banks: Tax Avoidance

Treasury written question – answered on 18th June 2009.

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Photo of Michael Meacher Michael Meacher Labour, Oldham West and Royton

To ask the Chancellor of the Exchequer pursuant to the answer of 21 April 2009, Official Report, column 637W, on banks: tax avoidance, to which sentences of the statement by the Chancellor of the Exchequer of 16 March 2009, Official Report, column 654, on G20 Finance Ministers' meeting, the answer refers.

Photo of Sarah McCarthy-Fry Sarah McCarthy-Fry Parliamentary Under-Secretary, Department for Communities and Local Government, Parliamentary Secretary, HM Treasury

The Chancellor of the Exchequer has stated on 16 March that he had

"asked Her Majesty's Revenue and Customs to publish shortly a draft code of practice on taxation for the banking sector, so that banks comply with not just the letter but the spirit of the law".

The code will be issued shortly.

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