TAX AVOIDANCE

Early day motion 362, tabled 9 December 2004 by Austin Mitchell (Labour). Signed by 48 members.

That this House welcomes the Government's Pre-Budget report and its proposal to clamp down on artificial tax avoidance schemes; urges it to end the domicile, residence and the offshore tax avoidance loop-holes that enable millionaires and numerous companies trading in the UK to avoid UK taxes; and further urges the Government to introduce the General Anti-Avoidance Principle as a matter of priority so that transactions lacking normal commercial substance and solely entered into for the purpose of tax avoidance are ignored for tax purposes, thereby providing certainty, fairness and clarity, which the UK's taxation system requires to prevent abusive tax avoidance, to protect the interest of ordinary citizens who are committed to making their contribution to society, to avoid an unnecessary burden of tax on individual tax payers and to ensure that companies pay fair taxes on profits generated in this country.

Signatures by party: Labour 31, Liberal Democrat 10, Labour/Co-operative 4, Conservative 1, DUP 1, UUP 1.