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<p>This government has taken a wide range of action to tackle corporate tax avoidance
over this parliament, sending out a clear message that large businesses need to pay
their fair share. We have closed down numerous loopholes and have led efforts at the
G20 and OECD to reform the international rules that some multinationals exploit to
avoid tax. Work is continuing at pace with our international partners to finalise
recommendations and to deliver those reforms.</p><p> </p><p>Alongside this we have
invested heavily in Her Majesty’s Revenue and Customs (HMRC) tax compliance activities,
including a £30 million funding provided at Autumn Statement 2012 to increase work
on identifying and challenging multinationals’ transfer pricing arrangements and further
strengthening risk assessment capability across the large business sector. As a result
of close monitoring and compliance work HMRC recovered around £31 billion in tax revenues
from large UK businesses between April 2010 and March 2014. In addition, this year
HMRC launched a new dedicated Large Business directorate to deal closely with the
tax affairs of the 2,100 largest businesses in the UK.</p><p> </p>
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