The United Kingdom Corporate and Individual Tax and Financial Transparency Bill 2013-14 received its first reading in the House of Commons last week: see here. The Bill, a Private Members' Bill, was sponsored by the Rt. Hon. Michael Meacher MP. A copy of the Bill has not yet been published, but the Hansard record for the Bill's first reading describes the Bill's purpose as follows: "... to require disclosure of various financial information by large companies; to provide for disclosure of beneficial ownership; to require banks to disclose to Her Majesty’s Revenue and Customs the identity of certain companies holding bank accounts; to require the publication of the tax returns of individuals with an income of more than a certain level and the largest two hundred and fifty UK companies; and for connected purposes".
Wednesday 26 June 2013
UK: United Kingdom Corporate and Individual Tax and Financial Transparency Bill 2013-14
The United Kingdom Corporate and Individual Tax and Financial Transparency Bill 2013-14 received its first reading in the House of Commons last week: see here. The Bill, a Private Members' Bill, was sponsored by the Rt. Hon. Michael Meacher MP. A copy of the Bill has not yet been published, but the Hansard record for the Bill's first reading describes the Bill's purpose as follows: "... to require disclosure of various financial information by large companies; to provide for disclosure of beneficial ownership; to require banks to disclose to Her Majesty’s Revenue and Customs the identity of certain companies holding bank accounts; to require the publication of the tax returns of individuals with an income of more than a certain level and the largest two hundred and fifty UK companies; and for connected purposes".
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