To ask Mr Chancellor of the Exchequer, if he will take steps to require RBS and Lloyds to disclose the activities of their subsidiary companies located in tax havens.
Answered on
5 March 2015
As part of CRDIV, banks will be required from December 2015 to disclose much more information regarding the activities of their subsidiaries than they have previously done.
In each country in which they operate, they will have to report their profit/loss before tax and how much corporation tax they have paid. This makes great strides in increasing transparency and accountability to investors and the general public.
Answered by
Treasury
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