TAX

摘要

Chancellor George Osbome has unveiled the 'Corporate Tax Road Map', aimed at halting the number of big businesses relocating abroad for tax reasons. Proposals include limited liberalisation of the UK's controversial controlled foreign company (CFC) rules, and confirmation that the UK will allow tax relief for interest expense, without restriction, apart from existing anti-avoidance rules, and a review of the research and development (R&D) tax credit regime, which has been in existence for a decade.