CHANCELLOR Philip Hammond has indicated that he will scrap predecessor George Osborne’s pledge to cut corporation tax to below 15%, according to reports.
Hammond has told EU finance ministers that the government intends to stick to a plan to cut the rate to 17pc by April 2020, from its current level of 20%, people with knowledge of the talks told Bloomberg.
The tax cut was proposed by Osborne as way to boost the economy in the days following the UK’s decision to leave the EU.
Messenger start-up Snap, owner of Snapchat, has said it will set up its non-US headquarters in London
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Public Accounts Committee believes country-by-country reporting will help HMRC check if multinationals are paying the right tax - but laments that the information will remain between those parties
Increase governance without stifling competitiveness; enforce already-in-place rules; were the key messages from the business community after the government released a green paper on governance