Weak economic growth is resulting in improved business incentives.
Global tax reforms and sustained weak economic growth continue to disrupt the tax landscape driving countries to introduce new or improved business incentives to compete. This is according to the EY Outlook for Global Tax Policy in 2017. See here.
It stated the long-term trend for countries to pursue a low-rate broad-base business tax strategy would remain strong in 2017. However implementation of the G20 and Organisation for Economic Co-operation and Development’s base erosion and profit shifting (BEPS) recommendations and draft legislation introduced by the European Commission were compelling governments to look for other ways to drive competition.
Of the 50 countries surveyed 30% were intending to invest in broader business incentives to stimulate or sustain investment with new or improved incentives being offered in 27% more countries than in 2016. Fully 22% of countries were planning to introduce more generous research and development (R&D)...
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