CBI supports new tax working party

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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