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24/03/2011
Lower Corporation Tax For NI
Members of the Northern Ireland Executive are set to meet with UK Treasury officials today to outline proposals to overhaul corporation tax in Northern Ireland.
The launch of a consultation document will give the Assembly power to vary the rate levied on businesses.
In his Budget speech yesterday UK Chancellor George Osborne told the House of Commons the document considers the case for Northern Ireland having a lower rate of corporation tax than the rest of the UK.
It is argued that bringing the tax in line with the rate in the Republic, which currently stands at 12.5%, could help invigorate the Northern Ireland economy.
(BMcN/GK)
The launch of a consultation document will give the Assembly power to vary the rate levied on businesses.
In his Budget speech yesterday UK Chancellor George Osborne told the House of Commons the document considers the case for Northern Ireland having a lower rate of corporation tax than the rest of the UK.
It is argued that bringing the tax in line with the rate in the Republic, which currently stands at 12.5%, could help invigorate the Northern Ireland economy.
(BMcN/GK)
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