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Commons2nd reading
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Tax and Financial Transparency Bill

A Bill to require the Secretary of State to take steps to require banks, corporations and trusts to provide information on their status, income arising and tax payments made in each jurisdiction in which they operate; and for connected purposes.

Originating House

House of Commons

Parliament last updated

1 May 2012

In Plain English

AI-generated

May contain errors — check source documents for definitive information.

Tax and Financial Transparency Bill would require the Secretary of State to take steps to compel banks, corporations and trusts to report information on their status, income and tax payments in each jurisdiction where they operate. The aim is to improve transparency about who pays tax and where they do business. The bill is currently at its 2nd reading in the House of Commons.

Key Points

  • Requires banks, corporations and trusts to provide information on status, income and tax payments by jurisdiction.
  • The Secretary of State would take steps to secure this information from the entities.
  • Information would cover all jurisdictions in which the entities operate.
  • Aims to improve transparency of tax payments and corporate activity.
  • Originates in the Commons and is at the 2nd reading stage.

Progress

Currently at the 2nd reading in the House of Commons; if progressed, it would normally move to committee stage and subsequent readings before becoming law.

Who is affected?

Banks and financial institutionsCorporations and corporate groupsTrusts and trustees (and their beneficiaries)Directors and senior managersTax authorities and government bodiesThe general public and taxpayers

Generated 21 February 2026

Bill Stages

1st readingCommons

17 Mar 2011

2nd readingCommons
Committee stageCommons
Report stageCommons
3rd readingCommons
1st readingLords
2nd readingLords
Committee stageLords
Report stageLords
3rd readingLords
Royal Assent

Updates & Documents

News (1)

News - Tax and Financial Transparency

1 Jan 1970
The Bill failed to complete its passage through Parliament before the end of the session. This means the Bill will make no further progress.

Documents (1)

Bill 166 2010-11 (as introduced)
BillCommons
17 Mar 2011

Parliamentary Votes (0)

No recorded votes for this bill yet.