Ex-Chancellor Lawson Calls for Business Sales Tax to Replace Corporation Tax

Lord Lawson, ex-Chancellor under Margaret Thatcher, has called for corporation tax to be replaced by a business sales tax. He told the Daily Telegraph that : “It is profoundly unsatisfactory that corporation tax has to be collected from large multinational corporations by a series of ad hoc compromise deals, as we have once again seen with the Google affair. It is also grossly unfair on smaller businesses, who are unable to shift profits between tax jurisdictions and have to pay the full amount due under UK law. I have long argued that in the modern world corporation tax has had its day as a major source of tax revenue. It needs to be a much lesser tax, bolstered by a tax on corporate sales.”
Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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