dejongj
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I'm not suggesting a race to the bottom. In business the lowest price bidder doesn't always get the deal. I think the UK has got a lot more to offer than Ireland. Especially the metropolitan area for an international corporation.It's not worked for countries like Ireland though, just lowering corporation tax.
I'd suggest refining the ukip idea, in that if profit is made in the UK it's taxed here. Furthermore hmrc looked closely at things like inter company loans at non competitive rates and if a transaction was judged to be purely to avoid tax then it was counted as profit. I don't get how companies can report one profit to share holders and another to the taxman
Unfortunately the international double taxation rules aren't that straight forward that the UK can just opt out. I haven't done the sims but I wouldn't be surprised that you cost us more than it gains other than the principle of forcing some to pay more.