Summary
CHANCELLOR of the Exchequer George Osborne has unveiled details of the Coalition Government's Corporate Tax Reform programme aimed at easing the taxation of foreign subsidiaries of UK-based companies, while also cutting tax on patents which it said will help improve prospects for innovative companies.
Publishing details of its Corporate Tax Reform programme, which it said was designed to improve Britain's tax competitiveness, the Government said "companies will no longer be subject to UK corporation tax on their foreign branch profits" and a 10% corporation tax would be levied on profits on patents with effect from April 2013.See the full content of this document
Extract
Tax Cut to Boost Hi-Tech Patents
Since it was formed after the election in May, the Coalition Government has moved quickly to ease the taxation of companies and prevent the migration of businesses and investment to less onerous ...
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