As Suarez Serrato pointed out in the IBT interview, the study also highlighted the gulf between statutory and effective
corporate tax rates.
The MOF has not yet revealed details of the proposed
corporate tax or VAT rates, or the extent of their coverage.
John Foskett (left), new director at Grant Thornton in Birmingham, with David Hillan, head of
corporate tax |
A comparison was conducted of the order of the EU countries according to the maximum statutory
corporate tax rate and the effective
corporate tax rates in 1995 and 2011.
Japan's
corporate tax rate will change into one that promotes (economic) growth," Abe told reporters, adding that he hoped the lower burden on companies would lead to job creation and an improvement also for private citizens.
It's a framework that lowers the
corporate tax rate and broadens the tax base in order to increase competitiveness for companies across the nation," Obama said in a statement.
Under the system,
corporate tax paid by a multi-national would be paid proportionally to a number of countries, depending on its level of business in each.
Economists have studied and debated state
corporate tax rates for years, and their effects are complex and hard to gauge, particularly when it comes to determining who ultimately pays - employees, shareholders or the public.
Many of the
corporate tax trends seen elsewhere in the world are not necessarily applicable in the Gulf, where we are seeing tax rates continue to fall," said KPMG's head of International Tax for the Middle East & South Asia Region Philip Marwood.
As for
corporate tax revenues, as of the end of April, the accumulated amount dropped 22.
Some policymakers may consider raising
corporate tax rates because it avoids directly taxing workers who are already suffering the effects of this recession.
a high statutory
corporate tax rate and narrow
corporate tax base.