UK lawmakers urge HMRC to lead tax transparency debate

HM Revenue & Customs and HM Treasury should “lead the global debate for public country-by-country reporting” and push for international agreement on its introduction, the House of Commons Public Accounts Committee (PAC) said as it reiterated a call for greater transparency in large multinationals’ tax affairs.

HMRC must also take urgent action to avoid a further “disastrous decline” in customer service as it addresses the challenges of spending cuts, a major reorganisation, and the implications of Brexit, the PAC said in a report on HMRC’s performance in 2015-16, published on December 2.

Read more: My news story for Tax Analysts, 1 December (paywall).

The PAC report is here.