Newly appointed Prime Minister Theresa May has announced plans to tighten the screws on corporate tax evasion.
The comments come shortly after the European Commission (EC) called for further crackdowns on corporate tax avoidance in recent weeks, inspired by the controversial LuxLeaks and Panama Papers scandals.
Following Britain’s decision to leave the European Union (EU), May has announced that Britain will continue to clamp down on corporations, with the aid of HM Revenue & Customs (HMRC).
“It doesn’t matter to me whether you’re Amazon, Google or Starbucks, you have a duty to put something back, you have a debt to fellow citizens and you have a responsibility to pay your taxes,” said the new Prime Minister.
“Tax is the price we pay for living in a civilized society. No individual or no business, however rich, has succeeded all on their own,” she added.
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