The Trades Union Congress (TUC) has called for
non-dom rules to be scrapped altogether in order for UK business to survive in an “ultra
competitive global economy”.
The TUC has claimed that non-domiciled
residents are exploiting the non-dom tax loophole to gain an unfair competitive
advantage over businesses owned by standard UK taxpayers.
As a result, the TUC says that the current
non-domiciled rules are stifling genuine business competition. The national
trade union centre said that even the proposed £30,000 charge to be levied at
non-doms will not solve the problem.
TUC general secretary Brendan Barber said that
Alistair Darling should take this into account when outlining his Budget plans
and that he “must ignore the self-interested whining of a small City elite
masquerading as the national interest”.
The UK “needs a tax system that rewards
business innovation and productivity not the ability to exploit tax loopholes”,
Barber commented.
© Crimson
Business Ltd. 2008
