Dividend exemption announcement: CIOT response

The Chartered Institute of Taxation (CIOT) welcomes the Chancellor’s announcement that dividend exemption will be introduced for companies remitting foreign profits to the UK.

Ian Menzies-Conacher, Chairman of the CIOT’s Technical Committee, says: “This announcement follows constructive consultation and is a welcome first step in the reform of the taxation of foreign profits earned by UK companies in order to make the UK more competitive in the world economy. In addition, complicated technical tax compliance procedures have been simplified.”

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For press information contact Simon Goldie on 020 7245 4122 (direct line), 07879 497316 (mobile). Email sgoldie@ciot.org.uk