Save content
Have you found this content useful? Use the button above to save it to your profile.
AIA

Lord Ashcroft gets big laugh as Darling adds Belize to tax avoidance campaign

by
24th Mar 2010
Save content
Have you found this content useful? Use the button above to save it to your profile.
With barely concealed relish- and more than a little comic timing - Chancellor Alistair Darling delighted the Labour benches by evoking the spectre of Lord Ashcroft and his non-dom status. 
Darling announced that the government will sign tax information exchange agreements (TIEAs) with three offshore tax havens: Dominica, Grenada and Belize – the latter being the home to the Conservative Party deputy chairman.  
To peals of raucous laughter from the government side of the House, he followed up with an addendum that these agreements would be in place in a matter of days - “a lot quicker than the 10 years it has taken our front bench opposition to sort out the tax details of their deputy party chairman,” said Darling. 
Under a TIEA, UK tax investigators can ask for information from the co-signatory country about any person who is under scrutiny. Darling argues that such anti-avoidance measures will raise £500 million and protect tax revenues of £4 billion. An agreement with Liechtenstein will raise £1 billion in its own right. 
I am determined to continue our successful drive to prevent avoidance and evasion” said Darling. "While people are suffering hardship, it is all the more unfair that some are escaping their tax obligations.”
Tags:

You might also be interested in

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.