Thursday, 23 May 2013

Beggar-thy-neighbour over tax?

"The stated intention of Fiat Industrial to relinquish its Italian tax residency (tax rate around 30%) and move to the UK (tax rate 20% from 2015) demonstrates the effectiveness of the UK’s strategy to tempt international business with the lowest tax rate in the G20."

"This also reveals the hypocrisy of UK politicians who seek to establish the UK as a future tax haven while reviling overseas companies for tax planning which has in the past allegedly extracted taxable profits from the UK."

Not my view but an interesting one from George Bull, tax expert at Baker Tilly.

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