Britain will reject plans announced in Brussels this week to combat industrial-scale tax avoidance by the world’s biggest multinationals, the Treasury minister responsible for tax policy has said.

David Gauke, financial secretary to the Treasury, told representatives from the European parliament that Britain would not adopt the measures to introduce certain common tax rules. “He was very clear that the UK is insisting on tax competition,” said German MEP Michael Theurer, who met with the UK treasury minister on Thursday. “It was really a shock from the minister.”
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Known as the common consolidated corporate tax base, or CCCTB, the policy would see countries adopt a common set of rules on where company profits arise – removing many of the national differences that multinationals have been able to exploit to lower their tax bill.

Aware of previous resistance, Moscovici has in recent weeks taken extensive soundings from EU members, prompting him to water down key elements of the CCCTB in an effort to make it more palatable. His calculations, however, appeared to have been wide of the mark as the UK Treasury signalled an emphatic rebuff.

http://www.theguardian.com/world/2015/jun/18/uk-reject-eu-plans-combat-multinational-tax-avoidance