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British Prime Minister Theresa May promises to continue to lower corporate tax

  • Categories:News
  • Author:
  • Origin:
  • Time of issue:2017-06-27 09:59
  • Views:7

(Summary description)According to the British "Financial Times" report, British Prime Minister Theresa May promised that the government will continue to reduce corporate tax rates. At present, the UK corporate income tax rate is 19%, which is the lowest among the G7 and Western advanced economies. The Conservatives promised that the corporate tax rate will be reduced to 17% by 2020. Among EU countries, Irish companies have relatively low tariffs of only 12.5%.

British Prime Minister Theresa May promises to continue to lower corporate tax

(Summary description)According to the British "Financial Times" report, British Prime Minister Theresa May promised that the government will continue to reduce corporate tax rates. At present, the UK corporate income tax rate is 19%, which is the lowest among the G7 and Western advanced economies. The Conservatives promised that the corporate tax rate will be reduced to 17% by 2020. Among EU countries, Irish companies have relatively low tariffs of only 12.5%.

  • Categories:News
  • Author:
  • Origin:
  • Time of issue:2017-06-27 09:59
  • Views:7
Information
According to the British "Financial Times" report, British Prime Minister Theresa May promised that the government will continue to reduce corporate tax rates. At present, the UK corporate income tax rate is 19%, which is the lowest among the G7 and Western advanced economies. The Conservatives promised that the corporate tax rate will be reduced to 17% by 2020. Among EU countries, Irish companies have relatively low tariffs of only 12.5%.
 
British Prime Minister M reiterated that despite the uncertainties of the closure of Europe in the UK, the British business community generally accepted the policy of cutting corporate tax rates, and the British business community reduced taxes on foreign companies to choose the UK as an investment destination.
 
Former British Chancellor of the Exchequer George Osborne said the UK should cut its corporate tax rate below 15%.
 
“We will continue to cut corporate taxes to encourage business development and job creation as this is a way to increase wealth, not reduce it,” Prime Minister M told Congress on June 21st.
 
In the British parliamentary elections, Labor Party leader Jeremy Corbyn promised to change the Conservative Party’s policy of reducing corporate taxes, raising the corporate income tax rate for some large companies to 26%, increasing the income of £19 billion and spending on public services. Applications.
 
According to the UK Treasury, the 1% reduction in corporate income tax rates, the total tax revenue of the Ministry of Finance will be reduced by about 2.5 billion pounds, while the Treasury's long-term, cut corporate tax will help increase investment and economic growth.
 
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