Inland Revenue in corner over bribes - papers 10 January

Pressure is building on the Inland Revenue (IR) to change its rules to stop providing tax relief to companies that pay bribes overseas. The FT says UK multinationals currently claim back millions of pounds under current rules. New anti-terrorism law coming into effect on 14 February will make such relief illegal, according to the Home Office, which pushed through the new legislation, the FT says. The IR says it will change any guidelines necessary for its officers, but adds that it is unaware of "any evidence that UK taxpayers are paying bribes to foreign officials, nor is the...