In a recent letter to the Financial Times, Institute of Directors taxation executive, Derek Brownlee urged the European Union to amend its treaties "to respect the rights of member states to protect their tax bases".
"The IoD has been urging such a course of action for a long time," he told the business daily, observing that as things currently stand, with several EU member states pushing for tax harmonization:
"Many long-standing aspects of the UK corporate tax system are being challenged in the courts on EU law grounds."
He concluded by suggesting that amending the treaties would "prevent a big burden in the form of additional regulation and leave UK policymakers free to concentrate on a subject of much more fundamental importance to UK business: is our tax system competitive, not merely within the EU but internationally?"
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