u”The UK and its “corporate tax haven network” is by far the world’s greatest enabler of corporate tax avoidance, research has claimed.
British territories and dependencies made up four of the 10 places that have done the most to “proliferate corporate tax avoidance” on the corporate tax haven index.
The UK ranked 13th on the list, which was published by the Tax Justice Network on Tuesday.
The shadow chancellor, John McDonnell, said the findings showed the government’s record on tax avoidance was “embarrassing and shameful”.
McDonnell added: “The only way the UK stands out internationally on tax is in leading a race to the bottom in creating tax loopholes and dismantling the tax systems of countries in the global south.
“The rot has to stop. While Tory leadership hopefuls promise tax giveaways for the rich, a Labour government will implement the most comprehensive plan ever seen in the UK to tackle tax avoidance and evasion.”
A government spokesman said tackling tax avoidance was a priority and the UK had “been at the forefront of international action to reform global tax rules”. …”