Alison Dickie and David Haworth (Freshfields Bruckhaus Deringer) consider whether the Brexit deal paves the way for a low-tax and less regulated UK tax environment.
Throughout the various stages of the Brexit negotiations there has been speculation about what the final terms of any trade agreement would say about tax; in particular whether the deal might allow the UK to position itself as the media-dubbed ‘Singapore-on-Thames’. The broad idea being that the UK could set itself up as a tax haven boldly neighbouring the EU27 jurisdictions by aggressively reducing its corporate tax rate offering targeted tax incentives to attract businesses to the UK and diluting rules countering tax avoidance. The question is whether the Brexit trade deal as agreed at the eleventh hour allows for this.
The ‘Singapore-on-Thames’ concept can be traced back to comments made by the then Chancellor of the Exchequer Philip...
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Alison Dickie and David Haworth (Freshfields Bruckhaus Deringer) consider whether the Brexit deal paves the way for a low-tax and less regulated UK tax environment.
Throughout the various stages of the Brexit negotiations there has been speculation about what the final terms of any trade agreement would say about tax; in particular whether the deal might allow the UK to position itself as the media-dubbed ‘Singapore-on-Thames’. The broad idea being that the UK could set itself up as a tax haven boldly neighbouring the EU27 jurisdictions by aggressively reducing its corporate tax rate offering targeted tax incentives to attract businesses to the UK and diluting rules countering tax avoidance. The question is whether the Brexit trade deal as agreed at the eleventh hour allows for this.
The ‘Singapore-on-Thames’ concept can be traced back to comments made by the then Chancellor of the Exchequer Philip...
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