Proceeding contribution from David Leslie Taylor (Labour) in the House of Commons on Tuesday, 12 May 2009. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance Bill.

Finance Bill

When a detailed analysis was done in 2006, it was found that the de facto corporation tax rate for larger companies in the UK was not 30 per cent., the official rate at the time, but 22.5 per cent. because of the activities of avoidance vehicles and companies. Is the hon. Gentleman reassured by their ingenuity? If this is such a crushing burden on British industry, why do the majority of FTSE 100 companies pay no tax, or nugatory amounts, and did so even before the recession reduced their profit base?

Secondary information

Type: Proceeding contribution
Reference: 492 c694
Session: 2008-09
Chamber / Committee: House of Commons chamber
Subjects: Alcoholic drinks Companies Business Corporation tax Competition Capital investment Excise duties Business rates Public houses Tax allowances Tax avoidance Taxation VAT Tax rates and bands Trade competitiveness
Legislation: Finance Bill 2008-09
Link: View this Proceeding contribution on www.publications.parliament.uk

Finance Bill

Secondary information

Librarians' tools