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Tax Avoidance

Volume 488: debated on Tuesday 24 February 2009

To ask the Chancellor of the Exchequer what steps he plans to take to counter the practice of offshoring legal ownership of company trademarks to low-tax locations; and if he will estimate the loss to the Exchequer as a result of this practice in each of the last 10 years. (256623)

[holding answer 12 February 2009]: The detailed figures requested are not available. The Government have measures in place to counter tax avoidance and to protect the UK tax base, for example the controlled foreign company rules.

The UK is working with other countries to increase transparency and clamp down on harmful tax practices. Anti-avoidance measures are kept under review to ensure that tax loopholes that provide avoidance opportunities are legislated on.