London CNN —
The United Kingdom has announced that it will scrap a 225-year-old rule that has allowed many of its richest residents to pay hardly any tax on their vast foreign earnings — a benefit enjoyed at one point by the prime minister’s wife.
The axing of the non-domiciled tax regime represents an about-face for Britain’s Conservative government, which had previously rejected calls to abolish the so-called “non-dom” status, citing the risk it posed to the country’s ability to attract globally mobile investors and wealthy foreigners with big spending power.
“Those with the broadest shoulders should
→ Continue reading at CNN - Business News
