When KPMG’s Jonathan Bridges finished a Treasury secondment to help design the patent box, he thought he would resume life as a corporate tax adviser at the Big 4 firm without much fanfare. He did not expect to be outed as the prime example of what some UK MPs believe is a rotten system that allows secondees to return to their firms and advise clients to get around legislation they created. But Bridges, singled out for criticism by Parliament’s Public Accounts Committee (PAC), denies he sought out loopholes for clients to exploit.
The Romanian government is considering a VAT cut next year, but advisers believe bringing the rate down by five percentage points that quickly is unlikely.
Financial transaction taxes (FTT) have not met Hungary or France’s revenue projections, but supporters argue they have been a success because they were intended to constrain risky transactions.
