|
|
16 Oct 2008
The competitiveness of Britain's tax system is underestimated by business, according to an OECD representative.
According to Jeffrey Owens, director of OECD Centre for Tax Policy and Administration, the business community is capitalizing on a window to lower taxes 'in the tail end of this government.'
According to a report on ft.com, Owens said the UK tax system compares 'pretty well' to that of competitors.
Highlighting Owen's comments, a report released yesterday showed the UK's total tax burden at 36.6% of gross domestic product was slightly higher than the OECD average but lower than the eurozone 15 member states.
Owens said that UK corporate tax rates looked competitive relative to other large economies.
Taxes on corporate income as a share of UK GDP rose to 4% in 2006, and increase of 3.6% in 2000 and 2.2% in 1975.
The report also revealed Denmark and Sweden as the highest-tax generators of all OECD countries. Mexico and Turkey remain the lowest-taxing countries.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment