The Sunday Times: UK’s Sunak to raise business tax to pay for Covid-19 support | Malay Mail

📆 21/2/2564 17:50:00
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LONDON, Feb 21 — British finance minister Rishi Sunak is set to increase a tax on business to pay for an extension to COvid-19 support schemes in the budget next month, The Sunday Times reported. Sunak, in his speech on March 3, will announce he is increasing corporation tax from 19 pence in the...

Sunday, 21 Feb 2021 03:09 PM MYT

According to the report, at least 1 pence is set to be added to the bill for business from this autumn, at a cost to business of £3 billion, with further rises in subsequent years.These measures will be helpful in paying for an extension to the furlough scheme, VAT cuts and business support loans until at least August.

“The corporation tax hike will be higher than expected and the extension of the support schemes will be longer than most people expect,” the newspaper quoted a source as saying.

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