The United Kingdom, Spain, and Norway Tax Structure

Goals

To analyze the significant differences between the US tax structure and the business tax structure based on the federal and state level. The analysis will specifically target the UK, Spain, and Norway. The research will also identify any upcoming trends or changes expected to face the tax structures and how these changes may affect the overall business landscape.

Early Findings

  • The ongoing trends and anticipated changes in the tax structure are likely to affect the business climate in various ways such as impact globalization, the digital revolution, as well as emerging technologies.
  • As of April 1, 2019, for instance, the UK, mandated electronic preparation of VAT data.
  • In 2018, the UK economy experienced turbulence in the economy. The Bank of England raised rates to the most extreme levels since the financial crisis.
  • The Brexit uncertainty was expected to cause even more turbulence in the economy.

Proposed next steps:

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