Buy Essay Lowest Tax Requirements in the UK
In addition, the UK has one of the lowest tax requirements in the world. This is at a rate of 28% (UK Trade and Investment, 2010a). Although this is higher than China’s 25%, it has several incentives that make it a more viable option. Plans are underway to reduce this cost even lower within the next four years, to 24%. A simpler tax system is to be set in place in the country. This means that multinationals operating within the country will be ‘free from tax burdens in compliance and day-to-day operations’ (The Business Standard, 2010).
Positioned 5th worldwide by the World Bank for its ‘ease of doing business’, the country has been lauded for making it easier for a company to implement contracts and the simplicity with which one may buy and register property (UK Trade and Investment, 2010b). Additionally, businesses receive protection from the government, and when they want to close their doors, the legal process they have to go through makes it a much simpler process as compared to other countries.