Top Firms Warn U.K. to Avoid Pushing Tax Transparency Too Far

Top Firms Warn U.K. to Avoid Pushing Tax Transparency Too Far

Leaders of some of the largest U.K. businesses have warned Prime Minister David Cameron that his plans to increase overall tax transparency by requiring greater disclosure of firms' tax affairs could harm the economy and stifle economic recovery. In media comments and letters, companies expressed fears that the government is creating an anti-business environment that could manifest as consumer boycotts or other hostile anti-enterprise actions.
 
Cameron outlined his plans in a January 24 speech (Doc 2013-1691) at the World Economic Forum in Davos, Switzerland. "The third big push of our agenda is on transparency, shining a light on company ownership, land ownership and where money flows from and to," he said, adding that it was a moral duty for all taxpayers to pay their fair share of tax.

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