The Taxpayers’ Alliance has launched a petition on its website (freezebusinessrates.org) to enable taxpayers to appeal to their members of Parliament on business rates.
Corporate taxation in the United Kingdom rose by 4.6 per cent in 2011, by 5.5 per cent in 2012. Yet the coalition government seems set to implement a further 2.6 per cent hike in April 2013.
Jean-Philippe Delsol
Tax lawyer, deputy director of IREF
The government’s goal of reducing the budgetary deficit to 3 per cent of GDP is commendable, even though such a deficit will inevitably increase the French public debt as growth will be low or even close to zero. However, the tools applied are both unjust and inefficient.
An old American joke has it that hell is where the Swedes are in charge of entertainment. But the last laugh in fiscal policy matters in Europe will probably go to Swedish legislators as they vote for implementing a reduction of corporate income taxes (CIT).
A recent study by Duanjie Chen and Jack Mintz, School of Public Policy, University of Calgary is estimating the effective corporate tax rates in 80 countries. These effective rates are taking into account statutory rates plus tax base items that affect taxes paid on new investment, such as depreciation deductions, inventory allowances, and interest deductions.
The Institute of Economic Affairs is publishing a study on the burden of tax compliance and administration in the UK.
This monograph shows the severely regressive nature of the costs of complying with the UK tax system – small firms suffer far more than large firms from the imposition of government bureaucracy related to tax collection.
