Push for Europe-wide corporation tax floor

France and Germany are pushing plans to introduce a minimum corporation tax rate across the EU, in a move that could result in higher taxes on British companies. It has emerged that European officials will debate plans to set a floor on the levy to act against tax havens such as Ireland and Luxembourg. However, Britain is prepared to veto any proposals that see it surrendering power over tax rates to Brussels. A Downing Street spokesman said: 'We have a long-standing view on tax harmonisation, which is not to support it.' At 20%, Britain has the lowest corporation tax in the G7 and one of the lowest in western Europe.


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