Ireland’s tax system is sometimes criticised by those campaigning against corporate tax avoidance. However, what is often overlooked is the fact that Ireland’s low rate of corporate tax attracts high volumes of physical investment.
Pearse Trust Blog
Corporate Tax To Fall Below 20%
At 20%, the UK already has the joint-lowest rate of corporate tax in the G20. However, Osborne was clear that "the country cannot afford to stand still while others rush ahead." So in something of an unexpected move, the Chancellor announced that corporation tax will fall to 19% in April 2017 and 18% in 2020. Osborne said the new rates will send out "loud and clear the message around the world: Britain is open for business."Read More
New Zealand’s Budget 2015 announced by Minister of Finance, Hon Bill English on 21 May 2015, is being called “a plan that’s working”. The budget highlighted a positive outlook for the economy and included a range of tax-related measures and investment initiatives.Some of these initiatives are aimed at New Zealand businesses and are being referred to as the “Business Growth Agenda”.
You may not be aware of this, but, further to a joint declaration signed in 2013, a ‘Dual Year’ celebration between the UK and Mexico, designed to enhance cultural and economic relations between the two countries is currently underway.
More specifically, the Governments of both countries have designated 2015 as the year of Mexico in the UK and vice versa the year of the UK in Mexico.Read More
On 7 May 2015, a General Election will be held to elect the 56 th Parliament of the United Kingdom.
Currently, general consensus and polling results suggest that the outcome will be that of a hung parliament with no single party securing the necessary majority required to form the Government. As occurred in 2010, a coalition government of 2 or more parties would be the expected outcome in such an event.
The following represents a short overview of the policies put forward by some of the main parties with regards to taxation and related matters.Read More
The Bribery Act 2010 (“the Act”) came into effect in the UK on 1 July 2011. The Act supersedes previous bribery legislation, including the Public Bodies Corrupt Practices Act 1889 and the Prevention of Corruptions of Acts 1906 and 1916.
The Act was introduced to modernise the law on bribery in order to enhance the effectiveness by which prosecutors and the courts manage anti-bribery cases.Read More
On 18th September next, a referendum will be held in Scotland which asks the question, “Should Scotland be an independent country?”
The UK Government has stated that if a simple majority of votes are cast in favour of independence (a “Yes” vote), then “Scotland would become an independent country after a process of negotiations.” In the event the majority vote against independence (a “No” vote), Scotland would continue to form part of the United Kingdom.
The UK Government and the leading opposition party want Scotland to remain part of the UK with all holding the belief that Scotland is stronger in the UK and that the UK is stronger with Scotland in it. The Scottish National Party, who won a majority at the last Scottish Parliament election, lead the campaign for independence.
According to the latest media reports, recently released official data from the Office of National Statistics (”ONS”) has confirmed that UK national output has increased to beyond the high-point achieved before the commencement of the financial crisis over six years ago. The occurrence of such an event was previously estimated to occur during the course of 2015.
Notably, Gross Domestic Product (“GDP”) grew by 0.8% in the three months to the end of June, resulting in the UK economy being 0.2% larger than at its height before the recession.
These positive figures from the ONS were released shortly after the International Monetary Fund (“IMF”) forecast that the UK will be the fastest-growing major economy in the world in 2014.
Since October 2012, a government scheme is being implemented to enrol every worker who meets the eligibility criteria into a workplace pension. Eligible workers are all employees aged between 22 and state pension age and earn more than the minimum earnings threshold set at £10,000 for 2014/15.
The Organisation for Economic Co-operation and Development (“OECD”) recently unveiled plans for a new single global standard for the automatic exchange of tax information, following calls from G20 leaders to increase pressure on those evading taxes and to create trust and fairness in the international tax system.