MPs call for new transparency measures to tackle tax avoidance in overseas territories

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MPs call for new transparency measures to tackle tax avoidance in overseas territories

By Adam Cadle

23/02/2018

MPs are calling for new transparency measures to tackle tax avoidance in overseas territories.

Following the release of the Paradise and Panama Papers, Dame Margaret, former chairman of the Public Accounts Committee, is planning to table a cross-party amendment after the second reading of the sanctions and anti-money laundering bill.

The amendment would force the UK's crown dependencies and overseas territories to publish registers of the true owners of offshore companies.

The Paradise Papers are a collection of leaked documents which allegedly reveal how politicians, celebrities, tech companies and other millionaires use off-shore tax havens.

The leak compromised 13.4 million files measuring 1.4TB – the second largest-ever data leak after the Panama Papers.

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