TaxCorporate TaxCBI slams government over tax burden

CBI slams government over tax burden

The Confederation of British Industry is at loggerheads with the government over the UK business tax burden, calling the additional costs unfair and much higher than many competing nations.

Link: CBI warns of future tax rises

In a report aimed at altering the government’s attitude towards company tax, the CBI claimed that, due to the 1997 Budget, the total annual tax bill for the business sector would be over £7bn in 2005/06. It said the country’s main company taxes stands at around 9% of GDP, above the average of its main trading rivals.

The report says the UK is not that different from Germany, where business taxes are 10.1 % of gross domestic product. But worse than the US with 7.3%, with only France taking a significantly higher share of national income, at 14.4%.

Digby Jones, the director-general of the CBI, said: ‘This is why so many business leaders are increasingly alarmed by the worsening situation – their concern matter to everyone – jobs and this country?s future depend on them.’

The Treasury has criticised the report’s calculations and accused the lobby group of being contradictory.

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

2m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

2m 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