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Can the UK Become More Competitive for UK plc?

2006 saw significant activity but the key tax issues for UK plc remain unsolved. Joy Svasti-Salee Head of International Tax Grant Thornton UK LLP considers what improvements are needed
Corporation tax is a factor that multinationals take into account in deciding where to locate their parent companies and where and how to invest. This is hardly surprising as most countries use tax rules and incentives to encourage investment in their territory (and attempts to restrain harmful competition in Europe have focussed largely on transparency and exchange of information). However it is the tax regime affecting the parent company which is most significant.
The UK regime is particularly onerous featuring complex controlled foreign company (CFC) legislation significant anti-avoidance legislation a credit system and what is today...
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