Business Taxation

We have described some of the effects of taxation on businesses in various parts of this book without actually describing the calculations and rules which have to be applied before the tax liability is ascertained. The detail has been reserved for this chapter where we examine the spectrum of taxation borne by businesses and in particular the taxes introduced in the mid-sixties. In addition to explaining how the various taxes work we also look to the reasons for their introduction, the influence on capital market operations, and how other countries’ business taxation compares with our own.