Autumn Statement 2015
Global Tax Update:December 2015/United Kingdom
The economy, the deficit and public spending plans for the next five years were the focus of the Chancellor’s Autumn Statement that were announced on November 25, 2015. (Global Tax Update:December 2015/United Kingdom)
A key policy announcement during the 2015 General Election campaign was the intention to raise £5bn by reducing tax avoidance, evasion and tax planning. The Chancellor announced additional funding for HM Revenue & Customs (“HMRC”) and a small range of anti-avoidance measures. However, these are targeted at very specific circumstances and the announcements are not expected to impact the majority of multinational groups.
(1) Business tax
(2) Enterprise zones and business rates
(3) Anti-avoidance measures
Deloitte Tohmatsu Tax Co. provides Japanese companies are considering developing business overseas with one-stop international tax services in relation to foreign investment to support their globally appropriate, optimal tax risk/cost management that is aligned with their business operations through Deloitte’s global network.