ALTERNATIVE BUDGET: Minimum Corporate Income Tax based on Revenue

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ALTERNATIVE BUDGET: Minimum Corporate Income Tax based on Revenue

Petition Details

Government bears the responsibility and risk of economic stability and all companies participating in the economy should be treated equally and the minimum corporate income tax on revenue should be the cost.

Additional Information

FTSE 100 companies, on average, have seen the corporate tax expense to revenue go from 4% to 1% over the last 5 years.

All companies regardless of size should pay a minimum corporate income tax of 1% on their reported revenue for UK companies and on revenue generated from sales from the UK for non-UK companies.
Advanced minimum corporate tax would be collected at the point of sales and annual assessment will follow the existing tax system.

Read more at www.the-empty-chair.com/docs/MCIT.pdf

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