{"id":21286,"date":"2013-06-21T09:43:19","date_gmt":"2013-06-21T08:43:19","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=21286"},"modified":"2013-06-21T09:43:19","modified_gmt":"2013-06-21T08:43:19","slug":"cameron-osborne-international-tax-avoidance-advisers","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/06\/21\/cameron-osborne-international-tax-avoidance-advisers\/","title":{"rendered":"Cameron &#038; Osborne: international tax avoidance advisers"},"content":{"rendered":"<p>As the <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/90b042b4-d4ff-11e2-b4d7-00144feab7de.html#axzz2Wpg8heIE\" target=\"_blank\">FT notes this morning<\/a>:<\/p>\n<blockquote><p>Dozens of big and medium-sized UK companies are\u00a0<a title=\"Don\u2019t blame the havens \u2014 tax dodging is everyone else\u2019s fault\" href=\"http:\/\/www.ft.com\/cms\/s\/0\/9bb6f2ec-d785-11e2-a26a-00144feab7de.html\">rushing to set up offices in tax havens<\/a>\u00a0such as Jersey, Malta, Ireland, the Netherlands, Luxembourg and Switzerland to take advantage of a policy introduced by the British government in April.<\/p>\n<p>The policy, which creates an \u201cultra competitive\u201d 5.75 per cent tax rate \u2014 a quarter of the full rate \u2014 for subsidiaries in tax havens that provide finance for other parts of a multinational group, has alarmed fair-tax activists. And it comes despite promises by David Cameron, UK prime minister, to\u00a0<a title=\"G8 leaders seek common ground on tax - FT.com\" href=\"http:\/\/www.ft.com\/cms\/s\/0\/0c6a699a-d7e7-11e2-b4a4-00144feab7de.html\">crack down on tax avoidance by multinationals.<\/a><\/p>\n<p><span style=\"font-size: 13px;\">The enthusiastic uptake of the policy means it could end up costing more than the expected \u00a3325m a year, say advisers. The rules may end up being tightened. \u201cThe political risks are rising,\u201d says one adviser.<\/span><\/p><\/blockquote>\n<p>Cameron and Osborne might argue that they had to adopt such a policy in the light of the EU's attitude to controlled\u00a0foreign\u00a0companies, but the low tax rate was never required by any such pressure. This scheme, which will result in a haemorrhaging of tax revenue from the UK, was\u00a0created\u00a0by choice and\u00a0shows\u00a0that Cameron &amp; Osborne are dedicated to tax competition, a philosophy so closely related to a belief in tax avoidance that the two are for all\u00a0practical\u00a0purposes\u00a0to be considered as part of one single mind-set.<\/p>\n<p>Cameron &amp; Osborne says they're opposed to tax avoidance.<\/p>\n<p>If that's the case they fail to evidence it in their actions and I take the evidence of action as the true indication of belief in\u00a0this\u00a0case.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the FT notes this morning: Dozens of big and medium-sized UK companies are\u00a0rushing to set up offices in tax havens\u00a0such as Jersey, Malta, Ireland,<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/06\/21\/cameron-osborne-international-tax-avoidance-advisers\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-21286","post","type-post","status-publish","format-standard","hentry","category-tax-avoidance"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/21286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=21286"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/21286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=21286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=21286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=21286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}