“BOTs Committed To Ensuring Tax Compliance”
The British Overseas Territories are “fully committed to ensuring tax compliance,” Exchequer Secretary to the Treasury David Gauke said yesterday [Oct 14] in the UK House of Commons.
Mr Gauke was answering a question from Labour MP Frank Field as to what steps the Chancellor of the Exchequer is taking to “tackle tax avoidance” in British Overseas Territories.
In reply, Mr Gauke said: “The Overseas Territories themselves are fully committed to ensuring tax compliance.
“They have also all published action plans setting out the steps they will take to deliver much greater clarity about who really owns, controls, and benefits from companies, and to ensure that this information is available to tax authorities.
“The commitments they have made on tax evasion over recent months as part of the UK’s G8 presidency represent the biggest ever step forward in the tax transparency of the Overseas Territories.
“They have all agreed to automatically exchange tax information with the UK and others to tackle those who hide their assets offshore.”
