Tax Evasion:Written question - HL15598

Asked on: 08 May 2019
Tax Evasion
To ask Her Majesty's Government what assessment they have made of the impact of "cum-ex" tax fraud on (1) banks, (2) taxpayers, and (3) HM Treasury.
Answered by: Lord Young of Cookham
Answered on: 21 May 2019

“Cum-ex” tax fraud exploits rules which impose withholding tax (WHT) on dividend payments. The UK does not apply WHT to dividend payments; there is no direct UK tax impact on banks, other taxpayers or HM Treasury.

Grouped Questions: HL15597

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