Banks put on notice over tax avoidance
29 Jun 2009, Accountancy Age, AccountancyAge
http://www.accountancyage.com/aa/news/1782166/banks-notice-tax-avoidance
Chancellor Alistair Darling has signalled his intent to pressure banks into signing agreements to reduce the prevalence of tax avoidance.
Darling said if banks failed to enter into the agreements, they would face greater inspections by tax authorities, according to telegraph.co.uk
The government is calling for all banks operating in the to sign the new taxation code of practice by the end of September.
Further Reading:
© Incisive Media Investments Limited 2012, Published by Incisive Financial Publishing Limited, Haymarket House, 28-29 Haymarket, London SW1Y 4RX, are companies registered in England and Wales with company registration numbers 04252091 & 04252093
Visitor comments
Properly drafted legislation is the answer!
Perhaps if the legislation was worded in a clearer fashion in the first place, there would not be holes to drive buses through. Is it just me, or do we live in a world where the first thought is to blame someone else for ones own errors.
Posted by: Spike , 01 Jul 2009 | 00:00
and Mr Darling will also face greater oversight?
'Pot', 'Kettle' and 'black'? Given MP's use of (perfectly legal) tax avoidance schemes to maximise their expenses....
Yet again we continue to see the government's inability to comprehend the difference between tax avoidance and tax evasion.
Presumably the oversight will come from the same 'independent' process that oversees MPs expenses?
Posted by: David Nicoll , 01 Jul 2009 | 00:00
What Chutzpah this inept Chancellor has.
Firstly, tax avoidance is perfectly legal, as it is merely ordering one's finances in keeping with the laws in place at the time. Secondly, how dare he have the audacity to complain anyway after he was caught doing something similar but also "perfectly legal and within the rules (according to him) with his MP's allowances. This guy has to go and he can take cyclops with him.
Posted by: Simon Paskin , 01 Jul 2009 | 00:00
Alistair Darling tax avoidance disclosure
I would not Criticize Mr darling too much. We the constituents elect MPs; therefore in principle we give them the authority to act on our behalf. These expenses claim or watching porn are petty staffs. They were before and they are now, only the difference is at that time there was less exposure and media did not have freedom. I would say that our MPs are doing much better than they did 50 or 100 years ago. And in the end they are all human.
On the tax avoidance scheme! I think Mr Darling is right on stamping down the big corporate world on tax front. On personal side the MPs may have spent some more here or there but this policy shall bring more money and security to the exchequer.
Posted by: INDRANIL CHAKRABORTY BCOM (Hons), MCOM, FCMA , 17 Aug 2009 | 00:00