‘Britain's banks may be forced to reveal the breakdown of their corporate tax contributions under a plan from the Treasury Select Committee to demand the information as part of its report on the sector. The influential cross-party group of MPs is considering asking banks to extract payroll taxes from their wider tax bill after Barclays admitted that out of total tax paid of £2bn in 2009, just £113m was corporation tax …
‘Former Lib Dem Treasury spokesman Lord Oakeshott said he would ask the Revenue to reveal the extent to which the banks adhere to the code – first devised by Labour – under which they agreed to comply with both the “spirit and the letter” of the tax law as “corporate citizens …”
‘One bank insider said: “A breakdown of a company’s tax contributions is a private matter between the company and the Revenue.”’
‘Britain's banks may be forced to reveal the breakdown of their corporate tax contributions under a plan from the Treasury Select Committee to demand the information as part of its report on the sector. The influential cross-party group of MPs is considering asking banks to extract payroll taxes from their wider tax bill after Barclays admitted that out of total tax paid of £2bn in 2009, just £113m was corporation tax …
‘Former Lib Dem Treasury spokesman Lord Oakeshott said he would ask the Revenue to reveal the extent to which the banks adhere to the code – first devised by Labour – under which they agreed to comply with both the “spirit and the letter” of the tax law as “corporate citizens …”
‘One bank insider said: “A breakdown of a company’s tax contributions is a private matter between the company and the Revenue.”’
