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Osborne extends industry tax breaks

Osborne extends industry tax breaks
3 Dec 2014

This article was first published in The Sunday Times, 30 November 2014

The chancellor is under pressure to squeeze more from international businesses because of the parlous state of the public finances. He has little room for giveaways as his hopes of cutting the deficit have been hampered by weaker-than-expected tax receipts. 

Country-by-country reporting would “introduce greater transparency” into the complex structures used by big companies to minimise their tax liabilities, said Jonathan Hornby of Taxand UK.

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The autumn statement was announced on Wednesday 3 December 2014. 

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