Minimum tax rate for tax avoiders -Raise ££bn extra tax for health and education

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Minimum tax rate for tax avoiders -Raise ££bn extra tax for health and education

Petition Details

The introduction of a 15% minimum income tax rate for an individual or company would raise tens of billions in additional tax receipts each year to help fund health, education and social care without the need to raise existing tax rates, cut funding elsewhere or to borrow more money.

Additional Information

Currently, tax avoiders can legally reduce the tax liability on their income to next to nothing without any restriction.
Any individual or company who resides or operates within the UK and uses a known avoidance scheme or has connected parties or subsidiaries registered in a tax jurisdiction where the effective tax rate is less than 15% should pay the new minimum tax rate. This will apply to UK income and all income recorded in these jurisdictions whether or not it is remitted back to UK.

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