|
answer text |
<p>Large businesses are subject to a significant level of scrutiny by HM Revenue and
Customs (HMRC). Approximately half of the UK’s largest businesses are under HMRC investigation
at any one time. In 2017-18 HMRC investigations into large businesses secured over
£9bn in additional tax revenue. HMRC uses measures such as the Diverted Profit Tax,
corporate interest restriction, and other rules to help promote tax compliance.</p><p>
</p><p>Tackling multinational tax avoidance is a global issue, which is why the UK
continues to lead global efforts through the OECD and G20 to address gaps and mismatches
in the international tax system. The UK has also been at the forefront of implementing
actions arising as a result of this international effort. This includes introducing
rules which prevent multinationals from exploiting differences in how countries tax
financial instruments, entities and branches, and introducing rules which prevent
multinationals claiming excessive tax deductions for interest expense.</p><p> </p><p><strong>
</strong></p>
|
|