Ed Miliband, leader of the UK opposition Labour Party, has said he would reduce the tax burden on small businesses at the expense of big corporations by raising the corporate tax rate if elected.
Shinzo Abe, Japan’s Prime Minister, remains committed to reducing the corporate tax rate in the country, despite objections from senior figures in his Liberal Democratic Party (LDP).
Global law firm Shearman & Sterling has entered into a “best-friends” cooperative agreement with Italian specialist tax firm Tremonti Vitali Romagnoli Piccardi e Associati which sees the firms formalise their collaborative offerings.
In remarks made at the Economic Club in Washington, DC yesterday, US Treasury Secretary Jack Lew said the US has the structure to get the corporate tax rate down to 28%.
Business spending on research and development (R&D) in the UK rose by 8% in 2012, as companies moved to take advantages of tax incentives on offer. R&D expenditure hit £11.9 billion, a record high which is £2 billion more than was spent on R&D during the recession in 2009.
On September 8, Mexico’s President Peña Nieto presented a long-awaited tax reform proposal to Congress. The measures it contains, which include a scrapping of the planned corporate tax reduction and an additional tax on dividends, will not be welcomed by taxpayers.
