President Barack Obama has debated the merits of lowering the US statutory
rate of corporate tax.
His comments were made to Charles Rangel, chairman of the tax-writing House
Ways and Means Committee, during the Fiscal Responsibility Summit earlier this
week, according to
Rangel said every loophole closed is a tax increase and it has to be
undersood that the ‘vast majority of businesses recognise it’s in their best
interests to do the right thing.
Obama is seeking to close loopholes in the controversial area of transfer
pricing, where multinational companies set the price of exchanging goods and
services between subsidiaries at arms length. The onus is on the company to set
prices according to the standard market rate.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont