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HMRC recovered £1.1bn tax from transfer pricing enquiries during 2013/14, double the amount collected the previous year, according to official statistics.
Financial secretary to the Treasury David Gauke claimed the increase was due to the additional funding given to the Revenue “to challenge multinational groups to ensure the rules are followed and the right tax paid”.
The specialist HMRC unit that examines pricing within multinationals has secured a total of £5.8bn in tax since being launched in 2008.
HMRC recovered £1.1bn tax from transfer pricing enquiries during 2013/14, double the amount collected the previous year, according to official statistics.
Financial secretary to the Treasury David Gauke claimed the increase was due to the additional funding given to the Revenue “to challenge multinational groups to ensure the rules are followed and the right tax paid”.
The specialist HMRC unit that examines pricing within multinationals has secured a total of £5.8bn in tax since being launched in 2008.
The new statistics show that average age of open transfer pricing enquiries at 31 March 2014 was 18.5 months, down from 24.8 months at the same time four years earlier.
The average age of settled enquiries was 25.3 months, compared with 33.3 for the year to 31 March 2010.
