CBI supports new tax working party

CBI supports new tax working party

Employers' body keen to help the government create an effective corporate tax system

The
CBI
has backed the government’s decision to set up a working group to look at the
competitiveness of the UK’s corporate tax system.

The government’s announcement yesterday follows hard on the heels of the
high-profile departure of two UK multi-nationals – Shire Pharmaceuticals and
United Business Media – to Ireland for tax residency purposes.

CBI director general, Richard Lambert said: ‘The CBI looks forward to working
as part of the new group to identify a clear, internationally competitive
corporate tax strategy for the UK.’

The employers’ body released a taskforce report last month revealing failure
of the UK tax system to respond to increasingly global business activity which
was creating an unsustainable regime.

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