As I commented last week in my Twitter the rising of corporate and personal taxes in the UK are making big companies to move out of the UK to other places.
An example of this is Ineos, the biggest private company by sales in UK. The company realized that moving abroad it's headquarters and tax residance to Switzerland will save up to €450m in the next four years and with the plung of the economy nowadays it would be ridicolous to not save this amount of money.
In my opinion the latest tax reforms are not helping the UK recovery and I bet this will hit the future of the world's financial City.
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ReplyDeleteIt is an interesting issue...the increase on corporate taxes will obviously reduce some companies' investments...but it is important to emphasize on the fact that on big firms the impact is much less significant. Medium companies will have to reconsider some decisions because their assets could be undervalued after this increase on taxes. So it is another example of how the richest avoid the problems associated with state decisions whereas the smallest ones suffer them deeply.
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