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Wither CT?

 
Andrew Flint takes a sideways look at the month's tax news
 
Every so often someone looks up from the CT600 and says 'Corporation tax … I don't know — I mean what's the point?'
 
The CT600 being what it is the speaker may of course be referring to the dubious cost/benefit analysis of continuing to breathe. However let us assume that the point at issue is the existence of corporation tax.
 
The issue surfaced again last month with a couple of lengthy articles in the Financial Times (21 and 22 July) to the effect that big companies are slipping through the CT net by exploiting the thin capitalisation and transfer pricing rules. The editorial speculates that national tax authorities 'may simply find they are unable...

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