British financial services group, Prudential plc, announced this week that it is giving serious consideration to moving its tax base out of the UK.
In an interview with The Telegraph on Tuesday, the company's Chief Executive Mark Tucker explained that the issue is high on the agenda in part due to the fact that the majority of the firm's business comes from outside the UK:
"When 85% of our business is coming from abroad, it's an international business with a very important UK arm," Tucker told the newspaper, adding that the firm is interested in keeping an administrative HQ within the country.
Should the move go ahead, the Prudential would be following in the footsteps of several other UK-based business groups unhappy with the country's corporate tax regime.
A comprehensive report in our Intelligence Report series looking at offshore and onshore corporate structures and their tax implications is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report7.asp
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