The Competitive Position of London as a Global Financial ... - Z/Yen

4.8 Corporate Tax Regime (8 of 14)
Respondents ranked the Corporate Tax regime eighth in importance as a factor of
competitiveness. A similar question in 2003 combined Corporate and Personal Tax
as a factor when it ranked third out of six factors. If we combine the questions on
Corporate Tax and Personal Tax in this survey, the combined factor would rank 12 th
out of 13.
Chart 17 – The Importance of the Corporate Tax Regime
Number of Respondents
120
100
80
60
40
20
0
Unimportant Of Low
Importance
Moderately
Important
33
Important Very
Important
International Banking International Other UK Banking UK Other
Critically
Important
91% of respondents thought the Corporate Tax regime was Important, Very
Important or Critically Important. However, the number of respondents who rank the
corporate tax regime as Critically Important is lower than for the preceding
competitive factors.
Chart 18 – How the Centres Rank for Their Corporate Tax Regime
Average Score
25
20
15
10
5
0
14.1
14.9
11.0
11.7
London New York City Paris Frankfurt
Perhaps unsurprisingly, few respondents scored any financial centre as Excellent.
74% of respondents rated London as Good and 64% rated New York similarly. Both
Paris and Frankfurt were rated as Poor or Very Poor by over 50% of respondents.
Generally people felt that corporate tax was less of an issue than it used to be: