Brown is this week expected to announce that UK businesses with
foreign subsidiaries will no longer have to pay a levy on profits returned to
Britain from foreign operations.
reports that Brown will make the announcement in his last Mansion House
speech as chancellor. The Treasury has been consulting on this issue, and
Brown’s successor as chancellor is expected take further action on the matter in
the pre-Budget report or the Budget.
Under the current system UK companies with operations in countries with low
tax rates have to pay a ‘top-up’ charge on foreign earnings they repatriate to
Chris Sanger from Ernst & Young said the UK may follow the Netherlands
and introduce a ‘participation exemption’ that would scrap any additional
taxation on foreign profits.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
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