Is the UK becoming a tax haven?
Even though it may now not happen, Pfizer’s bid for AstraZeneca and its proposed move to the UK tax regime is interesting. On the one hand the Government is taking ever more restrictive action to tackle tax avoidance and on the other it is trying to make Britain attractive to businesses and investors.
The UK is attracting the headquarters of companies with no real ties to Britain, like Jersey and the Cayman Islands. But is that such a bad thing? The corporation tax may be minimal but employment taxes, VAT, personal taxes and the impact of disposable incomes are surely all welcome.
Date: 9th June, 2014
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