U.K. cited as most tax-friendly nation

Feb. 16, 2013 at 3:07 PM

LONDON, Feb. 16 (UPI) -- The United Kingdom is the world's most tax-friendly country for businesses, a new study has found.

Researchers at the firm KPMG polled executives at 57 international companies and asked which countries had the lowest tax burden. Some 72 percent said Great Britain.

The U.K. finished fifth in the annual survey last year, but has since reduced its corporate tax rate from 28 percent to 22 percent. Leaders in the Conservative government are considering even further reductions, The Telegraph of London said Friday.

  "These companies can choose to invest and create jobs anywhere but are increasingly choosing Britain and showing that Britain can compete in the global race. It is a remarkable turnaround," Treasury Chancellor George Osborne said.

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