MITT ROMNEY’S tax returns show he paid 14.1%, below his campaign’s previous estimate of 15.4%.
The Republican candidate for the US presidency (pictured) paid about to $1.9m (£1.1m) on $13.7m of income in 2011, reports the BBC.
The top rate of tax in the US is 35%, but Romney lives primarily on income derived from his investments, for which 15% tax is payable.
The private equity businessman has already released his 2010 return, which showed he paid approximately $3m, equating to 13.9%.
A letter from PwC – Romney’s accountants – pertaining to his returns from 1990-2009 said he paid an effective rate of 20.2% during that time, with the lowest return being 13.66%.
HMRC intends to extend the date for withdrawal of transitional relief on investment growth from 30 November 2016 to 31 March 2017
Jane Ellison to serve as 'tax minister' following ministerial responsibilities for public health. David Gauke become chief secretary to the Treasury
Head of editorial Kevin Reed discusses the accountants in the new cabinet; the FRC's report into audit market concentration; and the Top 40 International Networks Survey 2016
A team of film tax fraudsters, which involved accountants, have been jailed for 36 years