Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment she has made of the adequacy of compliance with international tax standards by the Overseas Territories.

The inhabited Overseas Territories are largely self-governing jurisdictions with democratically elected governments, and are responsible for fiscal matters.

All Overseas Territories with financial centres have committed to upholding international tax standards, including those on tax transparency and exchange of information, and Base Erosion and Profit Shifting.

Compliance with international standards is assessed through a system of peer reviews and monitoring within the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting and the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The UK also works bilaterally with the Crown Dependencies and Overseas Territories on issues of mutual concern. For example, on 27 May 2025, the UK and Isle of Man issued a joint statement, agreeing to explore ways to further enhance information flows, joint working and other ways in which tangible benefits for both jurisdictions can be achieved, noting our shared objective of combatting tax avoidance and evasion.