Isn’t this fun?

HMRC is taking on big business using tax havens – and the only obvious explanation is country-by-country reporting

Slightly odd of course, For HMRC has always had access to CbyC reporting.

5 thoughts on “Isn’t this fun?”

  1. Surely the Spud of Ely knows that HMRC have access to the “real” accounts of real companies, which is far better than Micky Mouse stuff such as CbyC which, obviously, ignores capital and funding structures and all those things that make it possible to assess taxes in a legally justifiable way. CbyC is just a convenient fiction. If you buy resources in Spain, process them in Italy and sell them in Belgium, how does CbyC help anybody understand what is going on?

  2. Dennis, Pointing Out The Obvious

    Well, it’s Monday and Richard Murphy needs to boost his ego in some manner… Because the rest of the week he’s little more than a grifter.

  3. “HMRC has always had access to CbyC reporting.” What do you mean? No it hasn’t. CbC information has only been shared between national tax administrations since about 2018, it wasn’t even collected before 2016.
    See
    http://www.oecd.org/tax/beps/beps-actions/action13/
    “Fifty eight jurisdictions required or permitted the filing of CbC reports for 2016 and currently 90 jurisdictions have law in place introducing a CbC reporting obligation. … The first exchanges of CbC reports took place in June 2018 …”

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