The UK’s Autumn Budget leaves in place the UK’s low 19 percent corporate tax while vowing to tighten tax rules and crack down on online sales. This post addresses the main points of interest for corporations.
The UK’s Autumn Statement 2016 takes Brexit and many other factors into account. This post summarizes the critical points from the Statement that US multinationals should know, including the UK Chancellor's confirmation that the UK will honor its rolling schedule of corporate tax cuts.
The Republic of Ireland is known throughout the world for attracting foreign investment through its low corporation tax rate, which now stands at 12.5%. Northern Ireland, by contrast, follows the UK-mandated 20% rate. Not surprisingly, Northern Ireland has struggled in recent years to woo foreign direct investors away from its closest neighbor.Provided that certain political hurdles can be overcome, competition between the two border countries for foreign investment may become more balanced over the next few years after the introduction of new tax legislation.