UK mulls tax changes to shield revenues from EU

mkpdavies · 06-12-2004, 03:20 AM

http://news.ft.com/cms/s/75a314c2-47...00e2511c8.html

Quote:

The UK has more tax laws that are potentially in breach of EU law than any other member state, according to PwC, the professional services firm. Part of the explanation is that the UK imposes taxes on a worldwide basis, whereas other countries only tax income that arises in that country.

So we do things on a global basis, and they want us to go back to the dark ages and do it by country. You could not make this up!

Quote:

This decision, which stemmed from a realisation that the UK's regime was illegal under EU law, following an ECJ ruling against the German government, was seen as a notable example of “harmonising down”, whereby discriminatory tax concessions are removed from UK companies.

This sparked industry fears that the Treasury's insistence on protecting its corporation tax revenues would lead to measures that would damage competitiveness. But even if it responds to industry's pleadings on some issues, it will still come under fire from critics who want a more ambitious approach to bringing the UK in line with EU law.

So far, proposals for a co-ordinated approach to corporate taxation across the EU have been opposed by the UK. But if the ECJ continues to dismantle tax obstacles to cross-border trade, the alternative might prove increasingly unpalatable.

I have a better idea on how we avoid all of these problems, we get out of the EU, pronto! It's almost like we are constantly in fear of being punished by the EU now, and put in all kinds of stupid measures to prevent action. All this is hurting our business, and is further proof that our government is no longer in control of our own afairs.

Wake up Britain, the longer this goes on, the more painful it is going to be!

Also see

http://news.ft.com/cms/s/220b44d8-47...00e2511c8.html

to see how our government are trying to weasle their way out of trouble!

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