The competition between governments to attract businesses has driven down tax rates in a huge number of countries, and intensified the pressure to increase the tax rates on individuals.
The Average level of corporation tax in the worlds 30 richest countries fell from 37.5% in 1996 to 30.8% in 2003.
John Battersby, head of strategic tax policy at KPMG, told the Financial Times that the UK’s corporate tax rate of 30% is now only a ‘whisker from the OECD average’.
And the pressure on UK-based companies will be increased with Gordon Brown’s aggressive anti-tax avoidance measures. ‘Mr Brown’s efforts to extract more from companies may not be sustainable,’ warned Battersby.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...