United Kingdom: SABMiller may move out of the UK due to onerous tax regime

The boss of SABMiller has warned the brewing giant could be forced to move abroad in protest at Britain's onerous tax regime, The Daily Mail communicated on May, 19.

Speaking ahead of SAB's full-year results, Graham Mackay said: “We're a global company and we rely on movement of staff around the world.

“There's no question that the UK has become an unattractive place for even moderately high earners to be located. We came here for good reasons. Now we've got it actively under review.”

Companies such as SAB have become increasingly frustrated with the UK's 'internationally uncompetitive' corporate tax rate and the former Labour government's attack on high earners.
However, all that may be about to change. This week Chancellor George Osborne signalled he would introduce a 'lower and simpler' corporate tax rate.

“We will reform the corporate tax system by simplifying reliefs and allowances and tackling avoidance in order to reduce headline rates,” he said in a speech to the Confederation of British Industry.

21 May, 2010