Julie was delighted that Caroline Flint MP’s amendment to the Finance Bill was accepted by the Government.
The amendment gives the Treasury the power to introduce public country-by-country reporting. This means that they can require multinational businesses, headquartered or with sizeable business in the UK, to publish headline information about the size and location of the profits they make and the taxes they pay.
Following the Government’s decision, Julie said:
“I have supported this amendment since Caroline started her campaign. Getting tough on tax evasion and avoidance is long overdue. Accepting Caroline’s amendment is a step in the right direction for transparency in our tax system as it will enable the introduction of country-by-country reporting of how much money multinational companies make and how much tax they pay.”