TaxAdministrationGlaxoSmithKline turnaround on quitting UK

GlaxoSmithKline turnaround on quitting UK

GlaxoSmithKline has made a turnaround on leaving UK for lighter taxes in Ireland

GlaxoSmithKline,
which has been widely reported to consider joining the exodus for more
favourable tax regimes, now intends to remain in the UK, according to
Jean-Pierre Garnier, chief executive.

Garnier told The Independent the government was listening to
industry concerns over taxation. ‘We have no plans to leave the UK,’ he said.

‘We are very confident that the government is listening to business and
hearing what it takes to compete globally. The Prime Minister understands
globalisation.’

He thought those moving now were doing so prematurely. ‘I am optimistic that
the government will be able to generate an increasingly favourable [business]
environment,’ he said.

Further reading:

UK’s top business chiefs threaten tax move

The
The Independent story

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