New British tax law won't stop corporate avoidance - parliamentarians

By Tom Bergin LONDON (Reuters) - Legislation on tax avoidance going through Britain's parliament will not address the kinds of corporate tax minimisation that are of the greatest concern to the public, a parliamentary committee said on Wednesday. The "General Anti-Abuse Rule" (GAAR), part of a wider finance bill, would grant Her Majesty's Revenue & Customs additional powers to counter "abusive" tax avoidance But a sub-committee in the Lords examining the bill said GAAR would not tackle the practices used by companies such as Amazon and Starbucks to reduce their tax bill. ...