MPs to investigate tax havens
The Treasury Select Committee's announcement that it is looking into tax havens looks significant. Will this up the pressure on small offshore centres, I wonder?
Whether or not it does - and I'm sure we'll see plenty of discussion of the move over the next 24 hours - here are the full list of questions the committee are interested in.
The committee said:
The Committee would welcome, in particular, written evidence that relates to the following questions:
• To what extent, and why, are Offshore Financial Centres
important to worldwide financial markets?
• To what extent does the use of Offshore Financial
Centres threaten financial stability?
• How transparent are Offshore Financial Centres and the
transactions that pass through them to the
• To what extent does the growth in complex financial
instruments rely on Offshore Financial Centres?
• How important have the levels of transparency and taxation
in Offshore Financial Centres been in explaining their current position in
worldwide financial markets?
• How do the taxation policies of Offshore Financial
Centres impact on UK tax revenue and policy
• Are British Overseas Territories
and Crown Dependencies well-regarded as Offshore Financial Centres, both in
comparison to their peers and international standards?
• To what extent have Offshore Financial Centres ensured
that they cannot be used in terrorist financing?
• What are the implications for the policies of HM
Treasury arising from Offshore Financial Centres?
• What has been and is the extent and effect of double
taxation treaty abuse within Offshore Financial Centres?
• To what extent do Offshore Financial Centres investigate
businesses and individuals that appear to be evading UK taxation>
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