UK Budget 2012: highlights for US MNCs

European Tax Newsalert

On March 21, 2012, the Chancellor of the Exchequer, George Osborne, delivered his budget statement for 2012. The 2012 budget includes a number of measures aimed at supporting growth. Budget provisions that may impact US multinationals include an additional corporate tax rate reduction to 24%, improvements to the R&D tax credit and the new "patent box" regimes, and consultation on a new general anti-abuse rule aimed at "artificial and abusive tax avoidance".

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