Almost three-quarters called for greater visibility over taxes paid after it emerged that 57% of companies estimated their total tax contribution equated to more than 40% of profit.
‘The simple fact is that, at present, there is not consistent, reliable data on the total contribution of business to the UK Exchequer by way of tax receipts,’ said PricewaterhouseCoopers tax partner, John Whiting.
The PWC study into 70 of the UK’s biggest and most well-known companies led Whiting to claim that ‘what is clear is that UK tax receipts from business are far greater than the 2.5% of GDP represented by corporation tax’.
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