3 ms·

The british press hates other tax havens because they themselves try to be one. There are tons of PLCs established just for tax purposes.

• adventured 9y ago
  It's certainly a competition. It's why Ireland (12.5%) and the UK (19%; 17% in 2020) have two of the lowest corporate income tax rates on the planet. It worked extremely well for Ireland, I've seen little evidence that it has worked for the UK so far. The UK's economy is net the same size it was in 2005, before adjusting for inflation, despite growing their population by about 10%. Ireland's economy by contrast is nearly 50% larger than it was in 2005.
  • NotSammyHagar 9y ago
    But to be more accurate, we have to account for when the weaker eu countries were all hurting (pigs). I think Ireland's economy crashed in 2008 and so they have made a great recovery. I guess 2005 is adequately before that :-) I was thinking you were comparing nadir and peak or something.
    • qubex 9y ago
      PIIGS (don't forget Italy: we didn't actually blow up, but we've been bringing up the rear ever since).
  • gsnedders 9y ago
    They aren't actually quite so low, though, because unlike many countries there aren't nearly as many deductions and tax credits available. Presently, the UK has an effective tax rate of 18.6%, compared with, e.g. France which has a statutory tax rate of 33.33% but an effective tax rate of 11.2%. I believe the UK has one of the highest effective tax rates in the EU.