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Firms told: pay your tax or miss out

By Staff Reporter

Published 10/08/2016

Finance Minister Mairtin O Muilleoir
Finance Minister Mairtin O Muilleoir

Tax dodging companies will find themselves frozen out of public contracts in Northern Ireland, following a move by the Department of Finance's Central Procurement Directorate.

The public procurement market here is worth £2.6bn a year and includes construction, supplies and services. Firms bidding for large contracts will have to declare that they pay the right amount of tax. Further checks will be carried out after deals are signed.

The new rules have been welcomed by the charity Christian Aid which has been campaigning against corporate tax dodging.

"The new questions strengthen our position on companies that put in place complex tax avoidance arrangements and structures that are considered unacceptable by HMRC, said Finance Minister Mairtin O'Muilleoir. "Companies will have to disclose if any of their tax returns have been found to be 'incorrect' by HMRC."

Belfast Telegraph

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