TaxCorporate TaxE&Y: Government too adversarial with business

E&Y: Government too adversarial with business

Firm says UK becoming less attractive as investment destination

A new report by
Ernst & Young
has warned that the UK is in danger of becoming less competitive because of its
complex and uncertain tax regime

The firm said a key way to improve tax revenues would be if the government
and HM Revenue & Customs were less adversarial with business.

Called
Helping
Britain Thrive’
, it said Britain was becoming less attractive as an
investment destination, getting 18% of foreign projects in 2005, compared with
31% in 1997.

It also singled out the UK’s
corporate tax rate
as cause for concern – it is now the 18th lowest out of
countries in the Organisation for Economic Cooperation and Development (OECD),
compared with the 10th lowest in 2000, it said.

Further reading:

UK companies ‘writing own death warrants’

Has the ECJ lost the plot?

Treasury steels itself for massive tax hit from ECJ

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