HMRC ensures that multinationals pay the tax due in accordance with UK tax law.
We have been very successful in reducing tax avoidance by large businesses in recent years.
We relentlessly challenge those that persist in avoiding tax and have recovered £29bn additional revenues from large businesses in the last six years, including £4.1bn in the last four years from transfer pricing enquiries alone.
These figures speak for themselves.
Corporation tax receipts are dependent on the wider economy and the corporation tax rate set by Parliament, which was reduced by 2 percentage points for 2011-12.
Exchequer Secretary to the Treasury David Gauke said the Government is "determined to ensure that wealthy individuals, multi-national companies, all tax payers pay their fair share".
Public Accounts Committee chair Margaret Hodge, has today paid tribute to the role of the press in uncovering the big-name multi-nationals as tax dodgers.
Speaking to Daybreak she said: "[In the wake of the Levenson Inquiry] this was investigative journalism that found out what was happening with Starbucks, Google and Amazon.
"We took that up and exploited it."
Public Accounts Committee chair Margaret Hodge, has told Daybreak "that the Government should name and shame tax dodgers, as they do with welfare dodgers."
Anti tax-avoidance group UK Uncut is planning protests in Starbucks cafes on Saturday (December 8), involving "creative civil disobedience".
The committee's stinging criticism of tax-dodging companies, Starbucks, Google and Amazon, is clearly justified.
The PAC have criticised HMRC for undermining the system because it was "selective" in its prosecutions and warned smaller companies could feel victimised.
Margaret Hodge, who chairs the Public Accounts Committee has called for companies that abused the system to be "named and shamed".
She added: "HMRC should be challenging this but its response so far to these big businesses and their aggressive tax planning has lacked determination and looks way too lenient. Policing the tax system must be at the heart of what HMRC does.
"It must be more aggressive and assertive in confronting corporate tax avoidance. This is essential for the credibility of both the Department and the tax system.
"Confidence in our tax system can only be maintained if every company and every individual is seen to be paying their fair share. That requires HMRC to act firmly now."
The report said Google accepted profits should be taxed in the countries where they are generated but "undermined its own argument" because it remits its non-USA profits, including from the UK, to Bermuda, which has an advantageous tax regime.
Google is facing a review of its tax affairs by revenue and customs officials that could land it with a big bill.
MPs rounded on Amazon's representative saying they were left frustrated because he was "evasive and unprepared to answer legitimate questions".
While the company had a UK operation involving 15,000 staff it pays little corporation tax in the UK.
It said the company's UK website reported a turnover of £207 million for 2011 but its tax expense was just £1.8 million.
Chancellor George Osborne will today unveil details of £154m of funding to help tackle tax evasion and avoidance by big-name global companies and wealthy individuals.
Mr Osborne is expected to order Revenue officials to use some of the cash to draft in an army of investigators to target high earners who aggressively avoid or evade paying tax.
The funding will be confirmed in this week's Autumn Statement which is expected to deliver bleak news for benefit claimants as well as the wealthy.
On Sunday, the Chancellor said there would be extra investment in the part of the Inland Revenue that tackles tax avoidance by multi-national companies.
Global companies with huge operations in the UK generating significant amounts of income are getting away with paying little or no corporation tax here.
This is outrageous and an insult to British businesses and individuals who pay their fair share.
Corporation tax revenues have fallen at a time when securing proper income from taxes is more vital than ever.
There is little credible information about what is going on. The evidence we took from large corporations was unconvincing and, in some cases, evasive. HMRC also lacked clarity when trying to explain its approach to enforcing the corporation tax regime.
The inescapable conclusion is that multinationals are using structures and exploiting current tax legislation to move offshore profits that are clearly generated from economic activity in the UK.