If Brexit Negotiations Go Badly, the U.K. Has a Fallback—becoming the Next Switzerland
'The idea that one of Europe’s largest economies could turn itself into a tax haven has sparked outrage from senior EU figures, who complain that Britain is already a de facto tax haven. '
'If Britain’s exit from the EU goes horribly wrong, the U.K. government has hinted at a contingency plan: radically reduce corporate tax rates, turning Britain into an irresistible tax haven for international companies. '
'Since 2007, Britain has reduced its corporate tax rate from 30 percent to 20 percent—the lowest of the G-7 group of major economies—and it will fall to 17 percent by 2020, the lowest in the G-20. '
'It has perhaps come at the expense of France and Germany, which have much higher rates. '
'Try Newsweek for only $1.25 per weekThe aim has been to boost foreign direct investment and jobs by making the U.K. a more desirable—read: cheaper—place for multinationals to set up subsidiaries. '
[–] derram ago
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'The idea that one of Europe’s largest economies could turn itself into a tax haven has sparked outrage from senior EU figures, who complain that Britain is already a de facto tax haven. '
'If Britain’s exit from the EU goes horribly wrong, the U.K. government has hinted at a contingency plan: radically reduce corporate tax rates, turning Britain into an irresistible tax haven for international companies. '
'Since 2007, Britain has reduced its corporate tax rate from 30 percent to 20 percent—the lowest of the G-7 group of major economies—and it will fall to 17 percent by 2020, the lowest in the G-20. '
'It has perhaps come at the expense of France and Germany, which have much higher rates. '
'Try Newsweek for only $1.25 per weekThe aim has been to boost foreign direct investment and jobs by making the U.K. a more desirable—read: cheaper—place for multinationals to set up subsidiaries. '
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