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27th September 2011
A lower rate of tax would enable businesses to be more profitable, leading to greater profits for investors, noted Jo Nockels, training and communications manager at TaxAssist Accountants.
She emphasised that the Scottish government believes that the devolution of the tax would increase investment by 1.9 per cent over the next 20 years.
However, Ms Nockels highlighted that concerns have been raised over how the tax collection system will be administered.
The expert continued: "There is also the issue of 'brass plating' to tackle - or profit shifting.
"One major concern is that profits will be relocated from the UK to Scotland, but not the actual business."
The government also needs to ensure that the investment that would have occurred elsewhere anyway is not displaced, Ms Nockels added.
Scottish devolution of corporation tax has vast implications
A number of outcomes could arise if corporation tax is devolved in Scotland, an expert has said.
A lower rate of tax would enable businesses to be more profitable, leading to greater profits for investors, noted Jo Nockels, training and communications manager at TaxAssist Accountants.
She emphasised that the Scottish government believes that the devolution of the tax would increase investment by 1.9 per cent over the next 20 years.
However, Ms Nockels highlighted that concerns have been raised over how the tax collection system will be administered.
The expert continued: "There is also the issue of 'brass plating' to tackle - or profit shifting.
"One major concern is that profits will be relocated from the UK to Scotland, but not the actual business."
The government also needs to ensure that the investment that would have occurred elsewhere anyway is not displaced, Ms Nockels added.
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