|
News Index
Next
Previous
Companies in Northern Ireland could be exempt from corporation tax on the first
60% of profits under a plan to be put to the UK government today.
The plan, published by the Economic Research Institute,
represents the most detailed case yet made for special tax treatment for the
province after three decades of unrest.
Under the proposal, after the zero-rated first 60% of profits, the remainder
would incur tax at the prevailing rate of 30%. meaning businesses based there
would effectively have a rate of 12%.
Local businesses say a cut would stimulate foreign investment and allow them to
compete with the Irish Republic, where the rate is 12.5%.
Analysts claim the proposed regime would probably be in breach of European Union
rules on state aid, which restricts the amount countries can provide in
subsidies to companies in particular regions.
Source:
RedAlert
|
