UK Looks to Keep Tax Breaks in Place Despite Global 15% Rate

The UK is changing how it structures certain corporate tax credits to help cushion the blow of the global 15% minimum tax on companies taking advantage of those tax breaks.

The proposal, released in March, illustrates how some countries could implement the 15% rate while still offering companies certain tax perks to lower their effective tax rate.

New credits provided in the UK’s spring budget, such as the audio-visual and video games expenditure credits—along with the research and development expenditure credit—will be refundable, “ensuring that they don’t have a negative impact on the effective tax rate,” according to ...