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The TUC has attacked the new report by the CBI Tax Task Force saying it amounts to a 'tax dodgers' charter' — especially for the so-called super-rich.
The trade union body said the CBI proposals would if implemented lead to tax hikes for ordinary people damaging cuts to public services and abandoning Government commitments on child poverty.
The report calls for an urgent overhaul of the UK's corporate tax system and suggests a number of reforms including a headline corporation tax rate of 18% within eight years and a simplified and improved tax system to stimulate the growth of SMEs.
The TUC analysis claims the measures would mean companies would have lower tax rates than any individual leading to 'massive tax avoidance as individuals particularly the super-rich set up companies to hold their savings and investments to avoid tax'.
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