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....". Some tax experts have called the arrangement unusual given that Australia's corporate tax rate of 30% is higher than New Zealand's. ... [Read full article on BBC ]
Thursday 23rd of March 2017 09:09:46 AM
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....Analysts attributed the share selling to reduced confidence that Mr Trump's pro-growth policies, including financial deregulation and tax cuts, would occur any time soon. Investors saw the Trump administration's struggles to push through his healthcare legislation overhaul as a sign he may face setbacks delivering the proposed corporate tax cuts. ... [Read full article on BBC ]
Tuesday 21st of March 2017 09:28:57 PM
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.... The prime minister has made positive noises about tackling exploitation. But they run at odds to hints from her chancellor that a post-Brexit Britain may go for a Singapore-style economy, with even lower corporate tax rates and a scaled-back welfare state that would create even greater insecurity for low-paid workers. ... [Read full article on Guardian ]
Sunday 19th of March 2017 12:05:01 AM
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Latest Finance News related to Corporate Tax

Apple 'paid no tax' in New Zealand for at least a decade image
Source : BBC [Read Article] Thursday 23rd of March 2017 09:09:46 AM
....". Some tax experts have called the arrangement unusual given that Australia's corporate tax rate of 30% is higher than New Zealand's. ...
Wall Street suffers worst day this year image
Source : BBC [Read Article] Tuesday 21st of March 2017 09:28:57 PM
....Analysts attributed the share selling to reduced confidence that Mr Trump's pro-growth policies, including financial deregulation and tax cuts, would occur any time soon. Investors saw the Trump administration's struggles to push through his healthcare legislation overhaul as a sign he may face setbacks delivering the proposed corporate tax cuts. ...
A ‘jobs miracle’ that leaves millions worse off | Observer editorial image
.... The prime minister has made positive noises about tackling exploitation. But they run at odds to hints from her chancellor that a post-Brexit Britain may go for a Singapore-style economy, with even lower corporate tax rates and a scaled-back welfare state that would create even greater insecurity for low-paid workers. ...
Trump faces formidable institutional obstacles – so what can he do? | Barry Eichengreen image
.... It is increasingly clear that the name will change (“Trumpcare”, anyone?), and it can be expected that the Republican plan will cover fewer people; but much of the substance will remain the same. Because corporate taxes are less significant in terms of overall federal revenue, rate cutting doesn’t pose a comparable threat to the budget balance. ...
Trump's border tax could damage the US a lot more than a wall | Kenneth Rogoff image
.... Although it might surprise people who are used to thinking of imports and exports as a pure “us vs them” phenomenon, in fact roughly half of all trade is intra-firm – transactions between foreign and US divisions of the same company. And because US corporate taxes are among the world’s highest, firms will go to great lengths to assign as much value as they can to foreign subsidiaries, and as little as possible to US companies. ...
Caterpillar raided over alleged tax evasion scheme image
Source : BBC [Read Article] Friday 3rd of March 2017 01:07:46 AM
.... Two other sites in Illinois were also raided under the federal warrant. The raids come as the Trump administration plans to overhaul corporate taxes to keep jobs and profits within the country. ...
Wall Street stocks rise after Trump's corporate tax cut promises image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:42:20 PM
. President Donald Trump has helped drive up stock markets on Wall Street and in London to new highs, after he promised corporate tax cuts and a spending splurge on infrastructure projects to boost the economy. ...
The Bank of England fears it may not spot the next crisis. Here’s where to look image
....Trump is running his White House much like he controlled the two teams on The Apprentice. The radical team and the sober-suited team are sent away to determine how to overhaul corporate taxes one week, impose tariffs on Mexico the next and in the third week resolve how to increase infrastructure investment. ...
Blair is right on Brexit: parliament must have a democratic debate | Anatole Kaletsky image
.... Because the leave campaign successfully combined a multitude of different grievances, May now claims the referendum as an open-ended mandate. Instead of arguing for controversial Conservative policies – including corporate tax cuts, deregulation, unpopular infrastructure projects and social security reforms – on their merits, May now portrays such policies as necessary conditions for a “successful Brexit”. ...
Instead of draining the swamp, Trump has become Wall Street’s best buddy | Will Hutton image
.... His economic programme is no more than Reaganomics on speed run by a group of opportunists and self-interested chancers. In the short run, there will be a Trump upswing triggered by the prospect of careless deregulation, unaffordable cuts in corporate tax and lots of infrastructure spending. ...
It's time corporate tax dodgers started losing lucrative council contracts | Paul Monaghan image
.... Poll after poll suggests the public agrees. December’s results (pdf) from the Institute of Business Ethics’ annual survey about public perception of business behaviour saw corporate tax avoidance remain the top public concern in 2016, with 43% of the survey’s 2,000 respondents putting it as their issue of most concern. ...
EU will lose out from bad Brexit deal on City, says leaked report image
Source : Guardian [Read Article] Wednesday 1st of February 2017 11:48:26 AM
....The commission has recently proposed a single set of rules for the calculation of companies’ taxable profits in the EU. The common consolidated corporate tax base would ensure that profits are shared between the EU member states in which a company is active. ...
The Guardian view on industrial strategy: hot air but no liftoff | Editorial image
....But most worrying is the evidence that Theresa May is unwilling to confront the faction of her party that is most hostile to state activism, which happens to also be the faction pushing for the severest rupture from the European Union. It does not bode well, for example, that Mrs May is prepared to threaten that Britain will seek to undercut European neighbours with corporate tax cuts and minimal regulation as part of its Brexit negotiation strategy. ...
The Trump effect has rallied US markets – but it's based on illusion | Robert Shiller image
.... Tax cuts are clearly on his agenda, and the stimulus could lead to higher asset prices. Lower corporate taxes are naturally supposed to lead to higher share prices, while cuts in personal income tax might lead to higher home prices (though possibly offset by other changes in the tax system). ...
Rolls-Royce: questions remain despite £671m bribery settlement | Nils Pratley image
....First, the effective oligopoly in the US market means cigarette prices can continue to be increased gently. Second, there’s a chance Donald Trump will cut corporate taxes, which would do wonders for Reynolds’ bottom-line earnings. ...
Sterling skids to three-month low on hard Brexit concerns image
Source : Guardian [Read Article] Monday 16th of January 2017 04:58:07 AM
....With May expected to trigger article 50 by the end of March, which will start formal EU separation proceedings, the battle lines are already being drawn. British finance minister Philip Hammond also gave a thinly veiled warning in a German newspaper interview at the weekend that the UK could use corporate tax as a form of leverage in Brexit negotiations. ...
Hammond threatens EU with aggressive tax changes after Brexit image
Source : Guardian [Read Article] Sunday 15th of January 2017 08:57:08 AM
. The chancellor, Philip Hammond, has suggested Britain could transform its economic model into that of a corporate tax haven if the EU fails to provide it with an agreement on market access after Brexit. ...
EU negotiator wants 'special' deal over access to City post-Brexit image
Source : Guardian [Read Article] Friday 13th of January 2017 07:15:54 PM
....Werner Langen, a German centre-right MEP who is leading the investigation into the Panama Papers, wants to ensure the UK accepts international rules to clamp down on tax avoidance. Some EU politicians are worried the UK will embark on “a race to the bottom”, by slashing corporate taxes, to compensate for Brexit. ...
Snapchat sets up international office in London image
Source : BBC [Read Article] Tuesday 10th of January 2017 10:14:48 AM
....However, the European Commission has been cracking down on some of the tech companies' tax deals. In addition, the OECD has has been pushing for G20 measures on corporate tax avoidance. ...
Ireland may not get Apple's €13bn back taxes in full, EU says image
Source : Guardian [Read Article] Monday 19th of December 2016 11:56:26 AM
....Unveiling its formal legal submission on Monday, the finance department described how low taxes are the point of its sales pitch to foreign investors, arguing it was perfectly legal to levy far less tax on profits than imposed by competitors. Under EU rules, governments have powers to set their own corporate tax rates, but are forbidden from giving an unfair competitive advantage to firms on their territory. ...
Airbnb UK tax history questioned as income passes through Ireland image
Source : Guardian [Read Article] Monday 19th of December 2016 07:01:13 AM
....Airbnb generates the bulk of its income from commissions worth up to 15. 5% of rents but these are accounted for by its company in Ireland, where it benefits from a favourable corporate tax regime. ...
Apple fights back with appeal against EU Irish tax ruling image
Source : BBC [Read Article] Monday 19th of December 2016 03:26:21 AM
....Apple issued a lengthy statement, pointing it out that it was the largest taxpayer in the world, in the US and in Ireland. It said if the EU ruling went against it, the company would pay 40% of all the corporate taxes collected in Ireland. ...
Ireland to fight EU order to collect €13bn in back taxes from Apple image
Source : Guardian [Read Article] Monday 19th of December 2016 01:39:35 AM
....The scope of the order could have been even greater because EU time limits meant the judgment could include potential tax infringements dating only from 2003, not all the way back to Apple’s original 1991 tax deal with Ireland. But Irish specialists in corporate tax estimate that the EU’s order, if enforced, actually would total €19bn because of compounding interest from delayed payment. ...
Leak reveals Rex Tillerson was director of Bahamas-based US-Russian oil firm image
.... This is 10,700km (6,650 miles) away from the subsidiary’s official business home in Nassau, the semi-tropical capital of the Bahamas. The Bahamas is notorious for secrecy and has a corporate tax rate of zero. ...
Bermuda is world's worst corporate tax haven, says Oxfam image
Source : Guardian [Read Article] Monday 12th of December 2016 12:01:40 AM
. Bermuda is the world’s worst corporate tax haven, according to a list by Oxfam, which includes three other UK territories among those it names and shames. ...
Wall Street sets fresh record highs image
Source : BBC [Read Article] Thursday 8th of December 2016 09:12:14 PM
....Wall Street stocks hitting fresh record highs after being bolstered by data showing US labour market strength. A month-long rally since the presidential election of Donald Trump rolled on over optimism about domestic economic stimulus and reduced corporate taxes and regulations. ...
McDonald's to move non-US tax base to UK image
Source : BBC [Read Article] Thursday 8th of December 2016 02:38:31 PM
.... . Companies were also "deciding it's no longer worth the hassle and the risk" of using low-tax arrangements due to work by the OECD on "base erosion and profit shifting" - or corporate tax avoidance, according to Ms Self. ...
Australian GDP: economy shrinks by 0.5% in September quarter image
Source : Guardian [Read Article] Wednesday 7th of December 2016 02:00:59 AM
....”. James Pearson, the chief executive of the Australian Chamber of Commerce and Industry, also called for corporate tax cuts. ...
Dow Jones hits fresh record high image
Source : BBC [Read Article] Tuesday 6th of December 2016 10:26:43 PM
....Financial shares have climbed by over 15% since the election. President-elect Donald Trump's plans to reduce corporate tax and regulations are expected to benefit the sector. ...
Finance sector 'paid £71.4bn in tax' image
Source : BBC [Read Article] Tuesday 6th of December 2016 11:36:15 AM
....Nearly a quarter of turnover "went straight to the public coffers". The report, by accountancy giant PwC, said the record total was due in part to corporate tax reforms, which delivered an extra £8. ...
Mnuchin promises to boost US growth as Treasury boss image
Source : BBC [Read Article] Wednesday 30th of November 2016 02:21:46 PM
....Donald Trump's new Treasury secretary promised "the most significant middle income tax cut since [Ronald] Reagan". The Wall Street veteran said in a CNBC interview that the new administration also planned to cut the corporate tax rate from 35% to 15%. ...
Steven Mnuchin nominated for US treasury secretary image
Source : Guardian [Read Article] Wednesday 30th of November 2016 10:49:30 AM
....Mnuchin, a multimillionaire who was dubbed a “foreclosure king” for buying up distressed mortgages and evicting thousands of homeowners during the financial crisis, immediately announced he would oversee “the largest tax change since Reagan” and said his “No 1 priority is tax reform”. As well as cutting personal taxes, Mnuchin said the US corporate tax rate would be reduced from 35% to 15%. ...
The Trump effect has rallied the US markets – but what next? image
Source : Guardian [Read Article] Monday 28th of November 2016 03:04:14 PM
.... Markets are now all but certain that the Fed will pursue an interest-rate hike next month. The most likely explanation for the turnaround lies in Trump’s post-election remarks, which have focused largely on his economic agenda’s pro-growth features, such as deregulation, corporate tax reform and infrastructure spending. ...
Theresa May bids to reassure business on Brexit 'cliff-edge' image
Source : BBC [Read Article] Monday 21st of November 2016 04:24:39 AM
.... The review will be chaired by Sir Damon Buffini, the former head of private equity group Permira. Mrs May also said the government would review the support given to innovative firms through the tax system "because my aim is not simply for the UK to have the lowest corporate tax rate in the G20, but also one that is profoundly pro-innovation. ...
Strong-arm Apple and tax China bigly: a guide to Trump's possible tech policies image
....Apple is dealing with a complex problem in Ireland, where the European Commission is seeking “recovery of illegal state aid” for alleged unpaid taxes of up to €13bn, plus interest. It is standard for global businesses to exploit loopholes that allow them to register profits in countries with lower corporate tax rates, though that means the profits (and taxes that go with them) don’t come back to the US. ...
Obama meets Merkel in Berlin to discuss TTIP and Russia in wake of Trump win image
Source : Guardian [Read Article] Thursday 17th of November 2016 12:38:55 PM
....On Thursday morning, the French prime minister, Manuel Valls, warned that Europe was in danger of breaking apart unless Germany and France developed a new basis on which to show their strength. At an event in Berlin organised by newspaper Süddeutsche Zeitung, Vallssaid France must continue to make reforms, including lowering corporate tax, but the country needed Germany to make efforts regarding investment. ...
Bond bubble could burst with explosive impact image
Source : Guardian [Read Article] Monday 14th of November 2016 08:06:30 PM
.... The US economy is at virtual full employment and the federal budget deficit is already rising. Indeed, the US Committee for a Responsible Federal Budget estimated in September that Trump’s plans for massive personal and corporate tax cuts plus more defence spending would push the US national debt to 105% of GDP by 2026, against 77% currently and 86% assumed for 2026 under current laws. ...
Ctrl+Z: Silicon Valley leaders U-turn on Donald Trump image
Source : Guardian [Read Article] Friday 11th of November 2016 10:00:16 AM
....Trump’s transition website states that “regulatory reform is cornerstone [sic] of the Trump administration” and promises a moratorium on new regulations, a review of old ones, and the cancellation of many executive orders. He has also promised to lower the corporate tax rate from 35% to 15%. ...
US Election 2016: Asia markets bounce back after Trump win image
Source : BBC [Read Article] Thursday 10th of November 2016 12:36:08 AM
.... . He added that while Mr Trump had set out several broad economic policies, including corporate tax breaks and the renegotiating or scrapping of trade deals, there was no certainty these would go ahead. ...
Stock markets defy predictions of slump after Trump victory image
Source : Guardian [Read Article] Wednesday 9th of November 2016 06:17:44 PM
....Kerim Derhalli, chief executive of investment group invstr , said: “The reality is that Trump’s victory could actually turn out to be a better option for the global economy than a Clinton win would have been. “He has promised to cut corporate taxes, give US companies a tax holiday to repatriate the billions they have been stashing overseas and to invest in infrastructure. ...
Business winners and losers from a Donald Trump presidency image
Source : Guardian [Read Article] Wednesday 9th of November 2016 04:25:51 PM
.... At the moment, they would pay 39% tax but Trump has proposed a one-off charge of 10% for repatriated cash. Trump’s plans to reduce individual and corporate tax bills could help lift the economy and boost consumer spending. ...
Treasury tries to thwart EU plans for tax haven blacklist image
Source : Guardian [Read Article] Monday 7th of November 2016 07:07:19 PM
....Brussels officials think that a zero or near-zero rate of corporation tax in a non-EU country should be a red flag for “unfair taxation”. But EU member states are split on whether zero corporate tax rates should count in the criteria for determining whether a country is a “non-cooperative jurisdiction”, according to draft conclusions seen by the Guardian. ...
A slice of the pie image
Source : BBC [Read Article] Wednesday 7th of September 2016 03:34:13 PM
.... . And while Ireland has much to recommend it - a well-educated, English-speaking, European workforce - it also has a very low corporate tax rate of 12. ...
Amazon and Starbucks pay less tax than sausage stall, says Austria image
Source : BBC [Read Article] Friday 2nd of September 2016 09:55:20 PM
...."That goes for Starbucks, Amazon and other companies," he said. He added that EU countries with low corporate taxes were undermining the structure of the union itself. ...
'Here is the truth' image
Source : BBC [Read Article] Thursday 1st of September 2016 01:43:35 PM
....005%. However, the question is whether Tim Cook is including different forms of taxation rather than just Irish corporate tax. ...
Apple chief Tim Cook says tax ruling 'maddening' image
Source : BBC [Read Article] Thursday 1st of September 2016 07:25:53 AM
....". Mr Cook disputed the Commission's finding that Apple had effectively paid a corporate tax rate of just 0. ...
Europe's 'unfair' Apple tax ruling sparks US anger image
Source : BBC [Read Article] Tuesday 30th of August 2016 06:27:57 PM
....Rory Cellan-Jones: EU takes on Apple, Ireland and the US. Earlier the European Commission said Ireland had enabled Apple to pay substantially less than other businesses, in effect paying a corporate tax rate of no more than 1%. ...
Apple should repay Ireland 13bn euros, European Commission rules image
Source : BBC [Read Article] Tuesday 30th of August 2016 10:36:08 AM
....After a three-year investigation, it has concluded that the US firm's Irish tax benefits are illegal. The Commission said Ireland enabled the company to pay substantially less than other businesses, in effect paying a corporate tax rate of no more than 1%. ...
Firms giving advice on aggressive tax avoidance could face large fines image
Source : Guardian [Read Article] Tuesday 16th of August 2016 11:01:16 PM
....Plans set out in a consultation document released on Wednesday will suggest that tax advisers whose schemes are defeated in the courts might pay a fine of up to 100% of the money lost to the taxpayer. It follows prime minister Theresa May’s pledge last month to clamp down on corporate tax avoidance – widely seen as part of an appeal to working-class Britons struggling with their finances. ...
LuxLeaks scandal: Luxembourg tax whistleblowers convicted image
Source : BBC [Read Article] Wednesday 29th of June 2016 03:41:06 PM
.... They gained international interest in 2014 with a huge dump of all 30,000 pages into the public domain. The leak was the biggest expose of corporate tax deals until last month's publication of the Panama Papers, which revealed links between a number of international leaders and offshore shell companies that can be used to hide or launder wealth. ...
Debt-fuelled growth could trigger financial crash, governments told image
Source : Guardian [Read Article] Sunday 26th of June 2016 05:22:28 PM
....He argued that while growth across developing and developed world economies had failed to recapture its previous rapid pace, it still remained robust and offered governments scope to tackle long-term issues. An overhaul of corporate taxes and subsidies was needed “to remove the bias towards debt accumulation, for example by eliminating the tax advantage of debt over equity,” he added. ...
Hermes fund manager drafts plan to end City short-term investments image
Source : Guardian [Read Article] Sunday 12th of June 2016 03:45:14 PM
....He cited the tobacco industry’s attraction as a safe investment, because in bad economic times addicted consumers still buy cigarettes. Other instances of harmful behaviour included aggressive corporate tax avoidance that drains government funds, and poor pay and conditions that demoralise employees and leave them with little to spend, he said. ...
Panama Papers inquiry expected to call George Osborne as witness image
Source : Guardian [Read Article] Wednesday 1st of June 2016 06:20:41 PM
.... It can investigate breaches of EU law by member states and check if the commission acted in accordance with its duties under EU treaties. It has more clout in requiring organisations to hand over documents and compelling witnesses to give evidence than the two previous “special committees” set up by the European parliament to investigate corporate tax avoidance through Luxembourg after the LuxLeaks revelations of November 2014. ...
French police raid Google's Paris offices over tax fraud and avoidance claims image
....France's financial prosecutor's office confirmed the raid in a statement. It said: "The investigation aims to verify whether Google Ireland Ltd has a permanent base in France and if, by not declaring parts of its activities carried out in France, it failed its fiscal obligations, including on corporate tax and value added tax. ...
US corporate giants hoarding more than a trillion dollars image
Source : Guardian [Read Article] Friday 20th of May 2016 06:04:00 PM
....“Because domestic cash is consumed by dividends and share buybacks and is used to pay for the majority of acquisitions, we expect that overseas cash balances will continue to grow unless tax laws are changed to encourage companies to repatriate money,” Moody’s said. “There has been little progress toward corporate tax reform that would incentivise US companies to permanently repatriate funds held overseas. ...
Luxleaks trial of tax whistleblowers begins in Luxembourg image
Source : Guardian [Read Article] Tuesday 26th of April 2016 05:12:13 PM
....“Luxleaks could not have happened if it was not for the whistleblower, and the team of investigative journalists,” she told the news website EurActiv. “The two worked very well together to change the momentum of the debate about corporate taxation in Europe. ...
Pay ratio between bosses and employees will be '2016's hot topic' image
Source : Guardian [Read Article] Sunday 24th of April 2016 11:01:30 PM
.... At Sports Direct, the retailer at which the Guardian shed light on working practices, LGIM said it had voted against the re-election of the chairman two years running. Among other issues highlighted by LGIM was food waste at retailers and corporate tax. ...
Former PwC employees face trial over role in LuxLeaks scandal image
Source : Guardian [Read Article] Sunday 24th of April 2016 03:26:49 PM
. Two former employees of PricewaterhouseCoopers accused of being behind the biggest ever leak of confidential corporate tax deals face criminal trial in Luxembourg on Tuesday. ...
Will Barack Obama’s EU charm offensive be enough to rescue David Cameron? image
....’ He added: ‘Brexit means setting the taxes we want to impose. It means we can keep the corporate taxes we raise from big business, instead of losing £7bn every five years from European Court judgments making us send money back to those rich companies. ...
Europe pressures multinationals to declare taxes and profits image
Source : Guardian [Read Article] Tuesday 12th of April 2016 01:54:38 PM
....The legislation was first drawn up amid growing evidence that large corporations, from Amazon to Vodafone, were paying little tax despite earning healthy profits. Governments in the EU lose up to €70bn (£56bn) a year through corporate tax avoidance, according to the European parliament. ...
EU seeks more tax details from big firms image
Source : BBC [Read Article] Tuesday 12th of April 2016 01:00:12 PM
....More than 6,000 of the world's biggest companies will be covered by the proposals, representing approximately 90% of the turnover of all multinationals, a third of them with their headquarters in the EU. It is estimated that EU states lose at least €50-70bn (£40-56bn; $57-80bn) each year to corporate tax avoidance. ...
EU regulators demand greater tax transparency from multinationals image
Source : Guardian [Read Article] Tuesday 12th of April 2016 07:08:04 AM
....The original proposals were drawn up after public outcry over large corporations, such as Apple and Starbucks, paying little tax despite earning healthy profits. The EU loses up to €70bn (£56bn) a year through corporate tax avoidance, according to the European parliament. ...
EU to make big firms come clean on tax image
Source : BBC [Read Article] Monday 11th of April 2016 11:23:27 AM
....The BBC understands that companies will need to disclose information such as total net turnover, profit before tax, income tax due, amount of tax actually paid and accumulated earnings. The changes come after G20 leaders agreed to follow an OECD action plan to tackle corporate tax minimisation. ...
HMRC chief was partner at law firm that acted for Cameron offshore fund image
.... The Solicitors Regulation Authority is understood to have written to Simmons & Simmons asking it to carry out a review. Troup worked at the firm from 1997 until 2004, when he left to join the Treasury as head of corporate tax policy. ...
Why the top 10 tax havens don't include Panama image
Source : BBC [Read Article] Friday 8th of April 2016 08:43:53 PM
....Panama is not the only country which has promised to take action to improve its financial transparency. The leaders of the G8 major economies agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders at a summit in 2013. ...
Could Trump really save the US $19tn? image
Source : BBC [Read Article] Friday 8th of April 2016 02:52:33 PM
.... . Mr Trump has put forward a tax plan that would charge individuals between 0% and 25% tax based on income and cut the corporate tax rate in half to 15%. ...
Biggest ever drug deal collapses after US closes tax loopholes image
Source : Daily Express [Read Article] Wednesday 6th of April 2016 01:31:00 PM
....". America's corporate tax rate is one of the highest in the world at 35 per cent, while Ireland's is just 12. ...
Pfizer-Allergan merger collapse reveals real motivation behind tie-up image
Source : Guardian [Read Article] Wednesday 6th of April 2016 12:59:54 PM
....That was before Barack Obama got involved. Earlier this week, the US Treasury announced it was to tighten up its corporate tax laws to deter mergers and acquisitions (M&A) activity motivated by the desire to pay less tax. ...
Pfizer scraps $160bn Allergan deal image
Source : BBC [Read Article] Wednesday 6th of April 2016 09:44:20 AM
....In 2014, American fast-food chain Burger King bought Canadian coffee and doughnut chain, Tim Hortons. The merged group moved to Ontario in Canada, where the corporate tax rate is at 26. ...
Obama: Tax avoidance is a big problem image
Source : BBC [Read Article] Tuesday 5th of April 2016 06:46:09 PM
....Shares of Allergan fell 16% after the Treasury announcement, as investors feared the new rules would lead Pfizer to abandon its $160bn inversion deal with the Irish-based firm. Under the terms of the deal Pfizer would buy Allergan - the Dublin- based Botox maker- and move its headquarters to Ireland where the corporate tax rate is 12. ...
Britain's free market economy isn't working image
Source : Guardian [Read Article] Sunday 3rd of April 2016 10:26:45 AM
.... The theory was that a good, solid dose of market forces would clear out the dead wood from the manufacturing sector; financial deregulation would ensure that funding was provided to young, thrusting startup firms; and free trade would ensure that British industry remained on its toes. Industrial policy would no longer be about “picking winners” but involve an open door to inward investment and low corporate taxes. ...
IHS to buy data provider Markit image
Source : Guardian [Read Article] Monday 21st of March 2016 11:45:46 AM
....The US business research provider IHS has agreed to buy Markit to create a $13bn London-based data and business research provider. The deal is in the latest example of a US company moving its headquarters overseas where corporate tax rates are lower. ...

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