TaxCorporate TaxUS business group sound UK tax warning

US business group sound UK tax warning

US multinationals warn that UK foreign profits tax changes could harm investment

Plans to reform the taxation of foreign profits in the UK could have an
adverse effect on inward investment, a group of US multinationals has warned.

The National Foreign Trade Council, which represents 300 US businesses with
operations abroad, has written to chancellor Alistair Darling arguing that some
measures the government is planning to adopt could ‘have the effect of
discouraging the inward investment from the US, which historically has been so
important to the UK economy’.

The FT reports that the main issues the US organisation is concerned
about are changes to taxes on property, intra-group treasury operations and
post-acquisition restructuring.

There are also fears for the onerous burden of compliance with some
anti-avoidance measures.

Further reading:

UK changes ‘will outdo Luxembourg’

UK tax rate drops down leaderboard

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson