MP, Labour’s Shadow
Chancellor, responding to a statutory
review recommending that gaps in beneficial ownership registers
shared between the UK, Crown Dependencies, and certain Overseas
Territories be closed by 2020, said:
“The tax gap figures released last week were another
reminder of the scale of tax evasion and avoidance in this
country under a Tory government.
“The review’s recommendation that full coverage of shared
beneficial ownership registers need to be completed promptly, by
2020 at the latest, is further evidence of this government’s
failure to tackle economic crime – it is all too little, too
late.
“Labour has long called for comprehensive public registers
of beneficial ownership to be set up in the Crown Dependencies
and Overseas Territories, as a tool to tackle tax avoidance and
evasion.
“A Labour government will enact a robust plan to stamp down
on tax avoidance and evasion, abroad and within the UK – so that
everyone pays their fair share and we can raise the revenue
needed to transform our economy for the better.”
Ends
Notes to Editors:
· Statutory
review is available online here: https://www.gov.uk/government/publications/statutory-review-of-the-exchange-of-notes-arrangements/statutory-review-of-the-implementation-of-the-exchange-of-notes-on-beneficial-ownership-between-the-united-kingdom-crown-dependencies-and-overseas-te
· Labour’s
Tax Transparency and Enforcement Programme is available
here: https://labour.org.uk/wp-content/uploads/2017/10/Tax-transparency-programme.pdf
· HMRC
tax gap data for 2019 is available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/810818/Measuring_tax_gaps_2019_edition.pdf
