Dear George,
As July 8th approaches I would like to urge you to use the opportunity afforded by the budget to announce action on tax dodging.
During the election a number of my constituents contacted me with ideas for a Tax Dodging Bill, which they would like the Government to introduce as a priority. Their ideas are supported by 25 UK and international NGOs, and would generate around £3.6 billion in the UK.
The previous Government progressed the idea of requiring companies to report their taxes paid in each country they work in. Given that the IMF recently reported that developing countries are losing around $212 billion a year to corporate tax avoidance will you consider making this information publicly available and announcing plans for further action in the Budget?
My constituents and I would also like to see action to close the loophole in the Diverted Profits Tax. This is already bearing fruit in the form of additional tax revenues in the UK but would be even better of there was no loophole for loan exemptions.
I trust you have looked at the Tax Dodging Bill proposals and will be including them in the upcoming Budget.
Yours sincerely,
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