Definition of corporate tax road map

The UK coalition government set out a high-level roadmap of corporate tax reform in the 2010 ‘emergency’ Budget. The aim of the package of measures announced was to improve the competitiveness of the UK’s corporate tax system. On 29 November 2010, the government updated the roadmap and published several consultation documents. The roadmap restated the Government’s aim to create the most competitive corporate tax regime in the G20.

The roadmap set out how the government intended to approach the corporate tax system over the following five years and included documents focussed on the following areas: 

  1. The general principles and timetable for reform;
  2. Reform of the controlled foreign company rules;
  3. The role of intellectual property, including the introduction of a patent box and a consultation on the reform of the R&D tax credits system; and
  4. Proposals for the reform of the taxation of foreign branches.  (Updated by PwC, March 20 2013) [1]

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