According to KPMG’s annual survey on tax competitiveness, the UK’s tax regime ‘has maintained its position as one of the most attractive against key competitors as perceived by executives in large businesses operating in Britain’, and ‘simplicity and stability were ranked as more important than a low effective tax rate’. Key findings from the survey are as follows:
The UK’s tax regime has maintained its position as one of the most attractive against key competitors.
The tone of the tax debate in the media has had a mixed effect: UK PLCs say it could deter investment; while foreign-owned subsidiaries are more neutral.
The patent box is already stimulating research and manufacturing investment in the UK.
Targeted incentives for capital investment could encourage growth over the next 12 months.
The trend towards increasing transparency continues – companies generally recognise the need to become more transparent and many are taking action.
Respondents overwhelmingly support the OECD’s work on base erosion and profit shifting, although some say that some of the possible changes could reduce the UK’s tax take.
According to KPMG’s annual survey on tax competitiveness, the UK’s tax regime ‘has maintained its position as one of the most attractive against key competitors as perceived by executives in large businesses operating in Britain’, and ‘simplicity and stability were ranked as more important than a low effective tax rate’. Key findings from the survey are as follows:
The UK’s tax regime has maintained its position as one of the most attractive against key competitors.
The tone of the tax debate in the media has had a mixed effect: UK PLCs say it could deter investment; while foreign-owned subsidiaries are more neutral.
The patent box is already stimulating research and manufacturing investment in the UK.
Targeted incentives for capital investment could encourage growth over the next 12 months.
The trend towards increasing transparency continues – companies generally recognise the need to become more transparent and many are taking action.
Respondents overwhelmingly support the OECD’s work on base erosion and profit shifting, although some say that some of the possible changes could reduce the UK’s tax take.
