Falling corporation tax has been a crucial driver of profitability over
the last two decades, increasing pressure on CEOs to reduce their
company's tax bill, Will Duff-Gordon, research director at financial
information provider Markit, told CNBC on Tuesday.
Duff-Gordon said effective corporation tax levels were as low as 13
percent in Ireland and as high as 32 percent in the U.S., providing
"massive" arbitrage opportunities.
His comments come as Apple CEO Tim Cook prepares to defend his company's tax affairs before Congress.
The Senate has accused the tech giant of using an elaborate off-shore
system to avoid paying tax on billions of dollars of profits.
READ MORE: http://www.cnbc.com/id/100753261
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