LONDON (Reuters) - Britain is cutting the rate of corporation tax by a further 1 percentage point to 21 percent, Chancellor George Osborne said in a budget update to parliament on Wednesday. To cancel out the benefit of the lower tax to Britain's under-fire banks, Osborne said he would increase the Bank Levy - a supplement paid by financial institutes. "We will not pass the benefit of this reduced rate onto banks, and to ensure that we meet our revenue commitments, the Bank Levy rate will be increased to 0.130 percent next year," Osborne said. ...
↧
