On top of losing an estimated $200bn a year to corporate tax avoidance, developing countries are being pressured into offering ever lower corporate tax rates. The chancellor’s plan to make further cuts to corporation tax will fuel a global race to the bottom (Report, 4 July). This is part of a wider trend which has seen corporate tax rates fall across the world. The UK corporate tax rate was 28% in 2009, but these new plans could see it fall below 15%. Charlie MatthewsAdvocacy Adviser, ActionAid UK• Just over a week after the referendum, and the government’s first decisive move is to cut corporation tax.

Source: The Guardian July 04, 2016 18:22 UTC