Tuesday, 17 April 2012

Naughty Boy George Osbourne

While Osborne claims to find aggressive tax avoidance "morally repugnant", his budget gives the green light for big business to step up their tax dodging. Not all in this together then.

Caroline Lucas says:
The chancellor's unfair and regressive decision to cut the 50p top rate of tax may have stolen the headlines, but at the heart of the budget there is another tax giveaway to multinational companies. These are the proposals to change the tax rules covering "controlled foreign companies" (CFCs). By redrawing the scope of taxes on large UK companies' overseas subsidiaries, the proposed changes will make it far easier for multinationals to shift profits into tax havens.


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