Research from the US-based Tax Foundation and supported by the Centre for Policy Studies has calculated that changes to the UK tax system will cause the country to tumble down international tax competitiveness rankings.
The Daily Telegraph reports on the research which found that in 2023 the UK would fall from 26th to 33rd, its lowest ranking since 2014, as a result of changes to corporation tax and other measures.
Responding to the report, CPS Head of Tax Tom Clougherty said that while some government intervention to steady the market was needed, “as and when any fiscal headroom or opportunities for reform appear, it is going to be important to take them”.
Read the article here.
Date Added: Wednesday 19th October 2022