Britain is now ranked 14th in the PwC, World Bank and IFC Paying Taxes study, which ranks countries by assessing the tax costs and compliance burden for a case-study manufacturer. The UK’s improved position – a rise of two places from last year – is, according to PwC, ‘down to the steady lowering of corporation tax, a process begun several years ago to attract and retain business,’ and that: ‘As the UK also scores relatively well on compliance processes, it outperforms other countries with lower tax rates still.’
The study also suggests that: there is no global ‘race to bottom’, as the fall in tax rates around the world in recent years has come to a halt; and labour taxes now represent the a greater share of tax burden for businesses worldwide, making up 38% of a business’s tax cost (slightly more than 37% for profit taxes).
The United Arab Emirates came top of this year’s rankings.
Britain is now ranked 14th in the PwC, World Bank and IFC Paying Taxes study, which ranks countries by assessing the tax costs and compliance burden for a case-study manufacturer. The UK’s improved position – a rise of two places from last year – is, according to PwC, ‘down to the steady lowering of corporation tax, a process begun several years ago to attract and retain business,’ and that: ‘As the UK also scores relatively well on compliance processes, it outperforms other countries with lower tax rates still.’
The study also suggests that: there is no global ‘race to bottom’, as the fall in tax rates around the world in recent years has come to a halt; and labour taxes now represent the a greater share of tax burden for businesses worldwide, making up 38% of a business’s tax cost (slightly more than 37% for profit taxes).
The United Arab Emirates came top of this year’s rankings.
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