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18 August 2015
UK businesses would pay more if tax planning guidelines were made clearer.
Some 83% of UK businesses would pay more tax in return for greater clarity from the tax authorities. This compares with three-quarters (74%) of global business leaders. The findings come from the latest Grant Thornton International business report, a global survey of 2,580 businesses in 35 economies.
Jonathan Riley, head of tax at Grant Thornton UK LLP, said: “Businesses have a responsibility to their shareholders to keep costs within the regulatory parameters. Despite this, most would support paying more in tax in exchange for better guidance on what is acceptable tax planning.
“It is vital that businesses are consulted in the process of developing clear lines so that the end guidance is fit for purpose. The results provide evidence that clarity is needed in the complex world of cross-border tax transactions.”
