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CBI REACTS TO GOVERNMENT CONSULTATION ON TAXING FOREIGN PROFITS

The CBI yesterday welcomed the Government's consultation on reforming taxation of Controlled Foreign Companies.

Will Morris, Chair of CBI Tax Committee, said:

“This consultation will make a serious contribution to the Government's pledge to create the most competitive tax system in the G20.

“The Government is rightly continuing to protect the UK’s tax base, while allowing companies owned here much more flexibility when conducting business overseas.

“There remains much work to be done in the coming months to ensure the details of the Government’s proposals match up to its aspirations.”

Notes to Editors:
The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.

Media Contact:
CBI Press Office on 020 7395 8239 or out of hours pager on 07623 977 854.

Follow the CBI on Twitter at: www.cbi.org.uk/twitter

The CBI today welcomed the Government's consultation on reforming taxation of Controlled Foreign Companies.

Will Morris, Chair of CBI Tax Committee, said:

“This consultation will make a serious contribution to the Government's pledge to create the most competitive tax system in the G20.

“The Government is rightly continuing to protect the UK’s tax base, while allowing companies owned here much more flexibility when conducting business overseas.

“There remains much work to be done in the coming months to ensure the details of the Government’s proposals match up to its aspirations.”

Notes to Editors:

The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.

Media Contact:
CBI Press Office on 020 7395 8239 or out of hours pager on 07623 977 854.

Follow the CBI on Twitter at: www.cbi.org.uk/twitter

 

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