UK: the commercial attractiveness through a fair tax policy
A few days ago a report of PwC and World Bank entitled "Paying Taxes" (http://www.pwc.com/gx/en/paying-taxes ) was published: it took into account the economies of 183 countries, establishing a ranking on the ease or convenience in the payment of taxes by the medium-sized enterprises, considering different fiscal systems. The report uses data from the last 7 years. The study regarded: the number of payments required by the various tax systems for medium-sized companies, the time in hours to comply and the TTR (Total Tax Rate) regarding the incidence of taxes rates on commercial profits.
Considering many countries have recently introduced electronic payment systems (66 give the opportunity to file and make online payments) the overall results have given these average values: a medium sized company makes 28,5 tax payments per year, spends at least 7 weeks dealing with the tax system and has an incidence of 44.8% of taxes on commercial profits.
About the countries that we are interested, Italy ranks at 133th overall rank; it is 54th in the number of taxes payments (15) , but the major burden is 285 hours a year to comply fiscal duties and especially its 170th position in the TTR, as much as 68.5% (!!!) of the profits are absorbed by taxes.
The United Kingdom does appear as 18th in the report: the ease of contact with the UK tax system is demonstrated by 17th in the number of taxes payments (8) and 24th in the number of hours involved (110), with an incidence of 37.3% of taxes on corporate profits.
It leaps to the eye the difference in competitiveness between the two countries.
It should also be noted that this result has not really resulted in positive reactions in London. The 18th rank means a descent compared to 11th in 2006 and 16th last year.
Although the data for Great Britain are the same as last year, beyond other 33 economies have improved their attractiveness to small and medium-sized enterprises.
What is striking, but at the same time discourages those who are accustomed to the Italian system, is the continuing search, more and more expressed by David Cameron and other British politicians, to attract foreign investments and the knowledge that the best way to do this is the tax semplification and convenience. When a known tax consultant says that ".. while our country is doing well the other (economies such as Hong Kong or Singapore) are moving faster than us," just want to point out the need to regain a position of tax appeal in order to increase attractiveness and business competitiveness. And it is fully shared the opinion expressed by a tax partner of a consulting firm when he says that ".. our tax system needs to stand out from the crowd when it is increasingly important for companies to choose where to locate their activities" . These words should give pause those who have the economical and political responsabilty to restore credibility to Italy. In the economic and geographical globalization era the winners are who know how to attract and do not wear out the productive resources of a country.
Commenti
Posta un commento