Davos 2017: Efforts to tackle tax avoidance on the agenda

At the World Economic Forum in Davos last week, the subject of tax was once again on the agenda. Whether it was Oxfam, the OECD or Theresa May, efforts to tackle tax avoidance were under scrutiny. With the UK wedded to having the lowest tax rate in the G20, and President Trump promising to dramatically cut US taxes, claims that there is a “race to the bottom” seem ever more believable. However, opinions remain divided as to whether this is a good or a bad thing.

The tax debate has come a long way in the last few years, but frustrations remain that what should be common ground around terminology and matters of fact gets muddied. In the long run, this is counter productive for all.

MEPs tell EU Commission to expand “blacklist” of states at risk of money laundering to include “tax havens”

Last week the European Parliament considered the European Commission's "blacklist" of countries deemed to be at risk of money laundering and terrorist financing. Companies and individuals from blacklisted countries face more stringent checks (for example from banks), when seeking to do business in the EU. Although not specifically related to tax, as with so many issues is seems, this piece of work has now encompassed the tax avoidance debate.

“Better Budgets: Making Tax Policy Better” report launch

Yesterday saw the launch of the report “Better Budgets: Making Tax Policy Better” jointly issued by the Institute for Government, Chartered Institute of Taxation, and the Institute for Fiscal Studies. The launch event had panellists from all three organisations, joined by Jane Ellison MP, Financial Secretary to the Treasury.