Tuesday, March 29, 2011

British MPs Probe Corporate Tax Evasion

British Commons Treasury select committee is to launch a probe into corporate tax evasion amid growing concerns that multinational companies are not paying a fair tax bill. The committee will grill the top managers of major international entities like Vodafone and Barclays over the issue and they are likely to be asked to clarify their tax records.

According to George Mudie, the Labour MP for Leeds East who heads the Commons Treasury sub-committee, the issue is turning into a major concern for the public.

"When people see their standards of living fall and are paying their tax, and see huge salaries and questions over tax avoidance, then quite rightly they are interested in the issue," he told the Guardian.


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