Cameron raises moral questions on firms evading taxes

Cameron raises moral questions on firms evading taxesBritish Prime Minister, David Cameron has said raised moral questions on the behaviors of some of the multinational firms which were recently found to have paid very little or no tax at all in the country.

He said in an attacking mode that the government will work to make sure that they pay their full share of corporate taxes in the future. The remarks came after lawmakers in the country said that firms like Starbucks, Google and Amazon are behaving immorally to twist the system and avid their due share of taxes in the UK.

The lawmakers said that the companies used secretive jurisdictions, royalties and complex company structures in order to avoid paying taxes in the UK. The Commons public accounts committee released a highly critical report on Monday accusing the companies of tax avoidance through various measures.

The report also criticized the HM Revenue & Customs for being lenient with the companies that pay no or very little corporation tax in the UK. It has urged the government to fix loopholes in the tax laws and also name and shame companies that do not pay their fail level of tax dues in the country.

UK chancellor George Osborne is expected to announce an extra £77 million a year to appoint more staff in order to go after companies that avoid taxes. It is claimed that the effort will help raise extra £2 billion a year in unpaid tax.