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The measures so far in Scotland, Northern Ireland and Wales
KEY POINTS
- Devolution of tax powers will lead to tax competition and anti-avoidance measures.
- Draft legislation on further tax devolution to Scotland is expected by 25 January.
- Northern Ireland politicians signal lower corporation tax rate.
- Northern Ireland businesses may have a financial incentive to incorporate.
- SMEs will apply an “in-out” test based on staff time and costs.
While international efforts to curb tax competition and profit shifting continue a drive for the devolution of revenue-raising powers has raised the prospect of competition within the UK.
Northern Ireland’s enterprise minister Arlene Foster recently told the BBC that she would like the corporation tax rate for Northern Ireland businesses to be reduced to 10%
The Daily Telegraph reported that Alex Salmond Scotland’s former first minister said the Scottish...
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