Devolution of Corporation Tax to Northern Ireland PDF Download
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Languages : en
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Author: Great Britain. Parliament. House of Commons. Northern Ireland Affairs Committee
Publisher: The Stationery Office
ISBN: 9780215559852
Category : Corporations
Languages : en
Pages : 64
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Book Description
The committee supports the principle of devolving to the Northern Ireland Executive the decision over whether or not to amend the rate of corporation tax, and believes this would assist the indigenous private sector to expand, innovate and employ more staff. The report uses 12.5% as a benchmark for the lower rate of corporation tax, but suggests that on the basis that the decision is devolved to the Northern Ireland executive it may, in due course, choose a lower rate. To maximise the benefits of a lower rate, though, continued progress needs to be made on other economic development policy mechanisms, including planning, education, and incentives for research and development and exporting. Low corporation tax is not a panacea for all Northern Ireland's economic ills, warns the committee, and there are considerable implementation issues: direct comparisons with the Republic of Ireland and its experience with 12.5% are difficult because the UK and Irish tax systems are different; and the UK Government would have to satisfy the criteria laid down in the Azores judgment for the tax reduction to satisfy EU rules on state aids. The committee was surprised to discover HM Treasury do not know how much corporation tax is raised in Northern Ireland. It is important that the Northern Ireland Executive has as much information as possible before deciding if, and how, it wishes to lower the rate, and at least a better idea of the amount of financial risk they are taking on. Furthermore, the benefits of lowering corporation tax must not be outweighed by the costs to businesses and HMRC.
Author: Great Britain: Parliament: House of Commons: Northern Ireland Affairs Committee
Publisher: The Stationery Office
ISBN: 9780215560001
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
The committee supports the principle of devolving to the Northern Ireland Executive the decision over whether or not to amend the rate of corporation tax, and believes this would assist the indigenous private sector to expand, innovate and employ more staff. The report uses 12.5% as a benchmark for the lower rate of corporation tax, but suggests that on the basis that the decision is devolved to the Northern Ireland executive it may, in due course, choose a lower rate. To maximise the benefits of a lower rate, though, continued progress needs to be made on other economic development policy mechanisms, including planning, education, and incentives for research and development and exporting. Low corporation tax is not a panacea for all Northern Ireland's economic ills, warns the committee, and there are considerable implementation issues: direct comparisons with the Republic of Ireland and its experience with 12.5% are difficult because the UK and Irish tax systems are different; and the UK Government would have to satisfy the criteria laid down in the Azores judgment for the tax reduction to satisfy EU rules on state aids. The committee was surprised to discover HM Treasury do not know how much corporation tax is raised in Northern Ireland. It is important that the Northern Ireland Executive has as much information as possible before deciding if, and how, it wishes to lower the rate, and at least a better idea of the amount of financial risk they are taking on. Furthermore, the benefits of lowering corporation tax must not be outweighed by the costs to businesses and HMRC.
Author: Northern Ireland. Department of Finance and Personnel
Publisher:
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Category :
Languages : en
Pages :
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Author: Paul Carmichael
Publisher: Bloomsbury Publishing
ISBN: 1350358436
Category : Political Science
Languages : en
Pages : 273
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Book Description
Covering the impact of austerity, Brexit, the Scottish Independence Referendum and the collapse of the Northern Ireland Executive, this book discusses how wider national developments shape and are shaped by the process of devolution in Scotland, Wales, Northern Ireland and England, assessing its impact on politics, policy and public administration. Drawing together extensive scholarship on devolution, Devolution in the UK compares the similarities and differences between the different devolved nations, and tackles key questions: - Where did devolution come from, and what does its future look like? - What are the most effective devolution systems, and what are their benefits? - Why does Wales have fewer devolved powers than Scotland and Northern Ireland? - What impact will Brexit have? - Why are national identities, symbols, languages, flags and culture so important? Spanning the introduction of devolution in 1988 to the present, this is essential reading if you are studying devolution, one of the country-specific political systems, or interested in UK politics as a whole.
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Languages : en
Pages : 0
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In little more than eighteen months the idea of a differential rate of corporation tax equivalent to that in the Republic of Ireland (RoI) first mooted by Sir George Quigley, Head of the Industrial Task Force, has been endorsed by all of the parties in the NI Executive and is a central plank in their discussions with the Chancellor of the Exchequer on a financial package for the restored Executive. [...] This short article looks at the strategic background to the corporation tax debate, the work done by the Economic Research Institute of Northern Ireland (ERINI) to model the effects of a cut in the local rate to 12.5% and the practical issues that have to be addressed in implementing a regionally differentiated corporation tax regime in the UK. [...] THE ERINI STUDY In the Summer of 2006 the Industrial Task Force approached the Economic Research Institute of Northern Ireland (ERINI) to examine what the possible effects would be for the NI economy if it was possible to apply the 12.5% Corporation tax rate available in the RoI to the region. [...] The practical objections to this can conveniently be grouped into two categories: • International issues • Administrative and political issues INTERNATIONAL ISSUES The major international issue arises from the desire of the European Commission to restrict state aids on the one hand and to harmonise tax rates and tax bases across the countries of the European Union to avoid distortions to trade. [...] The definitive statement of state aid policy in relation to regions of a national economy being allowed to have a separate Corporation tax regime can be found in the ruling of the European Court of Justice (ECJ) adjudication in the Azores case delivered in the Autumn of 2006.
Author: David Bailey
Publisher: Rowman & Littlefield
ISBN: 1783486325
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
An informed, insightful and intelligent analysis of the economic impact of decentralization brought about by constitutional devolution.
Author: D. Birrell
Publisher: Springer
ISBN: 0230389791
Category : Political Science
Languages : en
Pages : 184
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Book Description
Examines recent evidence of a growing symmetry in the operation of devolution in Scotland, Wales and Northern Ireland. This book makes one of the first systematic and detailed comparisons of the operation of the devolved institutions and machinery of governance. It uses a comparative approach to explore the key workings of government.
Author: Great Britain: Parliament: House of Commons
Publisher:
ISBN: 9780215079763
Category :
Languages : en
Pages : 96
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Book Description
This Bill contains taxation provisions under which the Northern Ireland Assembly will have the power to set the main rate of corporation tax in respect of certain trading profits, to be called the Northern Ireland rate. The rate, in general, will apply to all of the trading profits of a company if that company is a micro, small or medium-sized enterprise (SME) and the company's employee time and costs fall largely in Northern Ireland. It will also apply to a corporate partner's share of the profits of a partnership trade if that company and partnership are both SMEs and the partnership's employee time and costs fall largely in Northern Ireland. The rate will also apply to profits of large companies, and (in this case of a corporate partner not covered by the SME rules referred to above) to a corporate partner's share of the profits of a partnership that are attributable to a Northern Ireland trading presence, that presence being termed as a "Northern Ireland regional establishment" (NIRE). The trading profits attributable to the NIRE are computed using internationally recognised principles with some modifications and adaptations.
