ICAS warns against Scottish corporation tax
Institute says separate rate will encourage profit shifting
A SCOTTISH corporation tax risks destablising the public finances, ICAS has warned.
The institute has told the leader of the Scottish government, Alex Salmond, that a lower corporation tax rate north of the border would not encourage more economic activity, according to Scotland on Sunday. UK wide corporations will simply “profit shift” to take advantage of the lower tax rates, it warned.
The Holyrood administration is set to release a consultation document this week setting out its case.
The UK government has consulted recently on introducing a separate corporation tax for Northern Ireland, which was announced originally in the Budget.