Moved by
Lord Hunt of Kings Heath
177: Clause 30, page 19, line 24, at end insert—
“(aa) failing, in the case of a supplier with two or more enterprises that are resident for tax purposes in two different jurisdictions with a group turnover of more than €750m, to provide a copy of a tax report which meets the requirements of the Global Reporting Initiative Tax Standard;
(ab) failing, in the case of a supplier that is currently under investigation for tax offences in the United Kingdom or abroad, or where the company has reached a settlement with a tax authority following an investigation for a tax offence, to disclose details of the investigation;
(ac) failing, in the case of a supplier which has a group turnover of less than €750m, to disclose that the supplier—
(i) is based in a tax haven, or
(ii) is a subsidiary of a person based in a tax haven, or
(iii) has a subsidiary based in a tax haven.”
Member’s explanatory statement
This amendment seeks to ensure that a supplier must be treated as an excluded supplier if it does not: report its economic activities in each country where they operate and the taxes paid in each country; report details of any tax investigations; and report where it is based in a tax haven or is a subsidiary of a person based in a tax haven.