In a survey carried out by KPMG, it has emerged that over the last two years, the UK’s tax competitiveness has improved more than any other major economy that was examined.
KPMG’s Competitive Alternatives 2012 Special Report: Focus on Tax, assessed the impact of business taxes in 14 countries worldwide, including corporate income taxes, capital taxes, sales taxes, property taxes and statutory labour costs to calculate a ‘total tax cost’.
Total tax costs for each country were compared to create a ‘Total Tax Index’ (TTI). The UK’s TTI was beaten only by India, Canada, China, Mexico and Russia.
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