If a combined group set up its head office in Holland, it could potentially
benefit from a lower tax bill, reports the FT .
The combined group’s growth in emerging markets, where corporation tax rates
tend to be lower than in Holland, would effectively make the group’s tax bill
Dutch-based companies can pay corporation tax in the localities where the
profits are made. UK companies pay UK corporation tax on profits made abroad.
‘The tax system is very flexible [in Holland] and the Dutch have attracted a
lot of holding companies to locate there because of these advantages,’
Stoy Hayward tax partner Stephen Herring told the paper.
A merger would be unlikely to affect the group’s UK tax bill, advisers have
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