ABI response to Government’s consultation on tax reform
he Government today published proposals for reforming the UK’s Controlled Foreign Company (CFC) rules, as part of its ambition to create the most competitive tax system in the G20.
http://www.hm-treasury.gov.uk/consult_controlled_foreign_companies_reform.htm
The response from the Association of British Insurers is below:
Peter Vipond, Director Financial Regulation and Tax, Association of British Insurers said:
“Insurers are major contributors to the UK economy and crucial to its future growth. We welcome the overall direction of travel, however as the document outlines a number of issues and options we will need to consider these proposals carefully and in detail. These changes will have to work specifically for insurers if the Government is to realise its ambition to give the UK the most competitive tax regime in the G20. A recent survey of insurance executives conducted by the ABI showed that over half do not put the UK in their top three business locations, based on tax and regulation, which shows that there is significantly more convincing to be done leading up to Finance Bill 2012.”
Liz Forster
Assistant Director, Communications
Corporate Affairs Directorate
Liz.Forster@abi.org.uk
T: 020 7216 7444
M: 07717 578586
www.abi.org.uk
Association of British Insurers
51 Gresham Street
London
EC2V 7HQ
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