Abolishing Unitary Taxation
EDM number 218 in 1989-90, proposed by Michael Grylls on 15/12/1989.
That this House registers its disappointment that it is nearly 10 years since the United Kingdom/United States Double Taxation Treaty came into force and that the State of California still applies unitary tax to British international companies with investments in that State, unless companies are prepared to pay a fee for the privilege of being taxed on the internationally recognised method of taxation; registers its frustration over the lack of progress in California; its concern over the failure of the current legislation in California to satisfy UK companies and the renewed interest by some US States in reintroducing unitary tax and that following Her Majesty's Government's statement dated 8th November 1985 announcing its intention to amend the UK/US Double Taxation to protect British companies from this iniquitous form of taxation insufficient progress has been made; calls upon Her Majesty's Government to make representations to the US Administration at the highest level to support further legislative initiatives in California, immediately to introduce Federal legislation, to extend Section 812 Income and Corporation Taxes Act 1988 and, should it be necessary to implement Section 812, to backdate it to dividends paid on or after 1st January 1990.
This motion has been signed by a total of 215 MPs, 4 of these signatures have been withdrawn.
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