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Tax Evasion

Question for Treasury

UIN HL15598, tabled on 8 May 2019

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 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.

Answered by

Treasury