Written question asked by Tulip Siddiq (Labour) on Friday, 21 February 2020, in the House of Commons. It was due for an answer on Tuesday, 25 February 2020. It was answered by James Duddridge (Conservative) on Monday, 2 March 2020 on behalf of the Department for International Development.
CDC: Offshore Funds
- Question
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To ask the Secretary of State for International Development, what steps he takes to monitor the proportion of CDC Group’s investments held offshore or in offshore entities; and what the value was of CDC’s offshore investments at 31 March 2019.
- Answer
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CDC invests in accordance with its policy on the payment of taxes and the use of offshore financial centres which is available on CDCs website. Under this policy, which has been agreed with DFID and is reviewed annually, CDC’s preference is to invest directly into the country in which the investee company’s business operations are located. Where CDC does use an offshore financial centre, it only uses those that are compliant with international tax transparency standards, as monitored by the Global Forum on Transparency and Exchange of Tax information.
As of 31st March 2019, 25% of CDC’s investments are held in CDC investment companies not domiciled in the UK.
Secondary information
- Type
- Written question
- Reference
- 18672
- Session
- 2019-21
- Subjects
- Offshore funds CDC
- Contains statistics
- Yes
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2020-03-02 19:28:32 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2019-21/18672
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2019-21/18672
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- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/commons/2019-21/18672