Tax Avoidance: British Overseas Territories
The question
To ask the Chancellor of the Exchequer, what steps her Department is taking to tackle tax avoidance in British Overseas Territories.
Answered by James Murray
The Overseas Territories are an integral part of the British family, and the elected governments of inhabited Overseas Territories are responsible for many fiscal matters, including tax.
The Overseas Territories have all made commitments to following the highest international tax standards, including the Common Reporting Standard (CRS) for the automatic exchange of information for tax purposes.
The UK provides support to the Overseas Territories to implement those standards.
The communiqué from the Joint Ministerial Council on 19 to 21 November included commitments to improving corporate transparency by completing plans to implement Accessible Registers of Beneficial Ownership. https://www.gov.uk/government/publications/uk-and-overseas-territories-joint-ministerial-council-2024-communique/b71f1ac8-d55c-44fb-b6a3-365f07a98689.
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