{"id":20952,"date":"2013-05-22T07:32:54","date_gmt":"2013-05-22T06:32:54","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=20952"},"modified":"2013-05-22T07:32:54","modified_gmt":"2013-05-22T06:32:54","slug":"fiat-moves-to-brass-plaque-tax-haven-uk","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/05\/22\/fiat-moves-to-brass-plaque-tax-haven-uk\/","title":{"rendered":"Fiat moves to brass plaque tax haven UK"},"content":{"rendered":"<p>As the <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/010d4fb6-c259-11e2-8992-00144feab7de.html#ixzz2U02KEPsm\" target=\"_blank\">FT has noted this morning<\/a>:<\/p>\n<blockquote><p>Fiat Industrial\u00a0aims to move its tax residency to the UK from Italy after a merger with US business\u00a0CNH\u00a0to take advantage of a lighter fiscal regime, according to a regulatory filing.<\/p><\/blockquote>\n<p>Now there's no chance that this means Fiat will be making cars here. No, this is just a sign of tax haven UK,\u00a0which\u00a0is itself\u00a0undermining\u00a0the tax laws of other EU states. Fiat's moving here, I have no doubt, to exploit our new controlled foreign company\u00a0legislation\u00a0that basically lets UK based companies now use tax havens at will and with\u00a0impunity; to exploit our new low tax rate and to exploit the fact that, come\u00a0what\u00a0may, income from\u00a0foreign\u00a0subsidiaries\u00a0 is never now taxed in the UK even if they took part in massive tax avoidance.<\/p>\n<p>This is tax haven UK at work.<\/p>\n<p>We should be ashamed of it, not least because the tax we'll raise as a result of tis direct attack on the Italian tax system will be very small indeed. Our\u00a0corporation\u00a0tax system us now designed to make sure that is the case. And the number of\u00a0people\u00a0who will relocate to the UK as a result of this move will, I suspect, be counted on the fingers of a hand or two.<\/p>\n<p>Welcome\u00a0to brass\u00a0plaque\u00a0Britain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the FT has noted this morning: Fiat Industrial\u00a0aims to move its tax residency to the UK from Italy after a merger with US business\u00a0CNH\u00a0to<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/05\/22\/fiat-moves-to-brass-plaque-tax-haven-uk\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,32],"tags":[],"class_list":["post-20952","post","type-post","status-publish","format-standard","hentry","category-tax-avoidance","category-tax-havens"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=20952"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20952\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=20952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=20952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=20952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}