UK Renewed Calls for Public CbC Reporting in Wake of Paradise Papers

On 14 November 2017, an emergency debate was held in the UK House of Commons to discuss the issues enabling the tax avoidance and evasion uncovered by the so-called Paradise Papers. During the debate, led by Dame Margaret Hodge, a call was put forward for the implementation of public Country-by-Country (CbC) reporting. A provision to allow the government to require a CbC report as part of the public tax strategy disclosures was already approved as part of the Finance Act 2016, although the gov…