For the first time ever, the UK has topped KPMG’s league of best countries to do business, ahead of Switzerland, the USA and France.
When asked which country had the best tax regime for doing business, senior tax professionals from Britain’s largest companies picked the UK above any other country.
The same report showed that more than three quarters of top executives said a country’s tax competitiveness influenced their decision of where to locate.
The Government is committed to making the UK an attractive place for the world to do business by creating the most competitive tax system in the G20. That’s why in the Autumn Statement 2012, the Government reduced corporation tax to 21 per cent, the lowest corporation tax rate in the G7.
The Chancellor of the Exchequer George Osborne said,
‘We made a commitment to create for Britain the most competitive corporate tax system in the G20, and within just two and half years this report shows that is what the world’s leading companies now think we have.
‘These companies can choose to invest and create jobs anywhere, but are increasingly choosing Britain and showing that Britain can compete in the global race. It is a remarkable turnaround, and a tribute to the steps we have taken in Budgets this Parliament.’