Source:
https://scmp.com/business/economy/article/1293307/uk-lawmakers-call-review-corporate-tax
Business

UK lawmakers call for review of corporate tax

Companies like Starbucks have been criticised for using structures to shift profits into low-tax jurisdictions. Photo: AFP

A panel of UK lawmakers has called on the government to conduct a review of Britain’s corporate income tax regime to tackle what it said was a “serious problem of avoidance”.

The House of Lords Economic Affairs Committee told the government it should force companies to publish summary tax returns, curb the tax deductibility of interest payments and consider penalising companies engaged in aggressive tax avoidance.