Corporation tax is dead: long live corporation tax! Richard Murphy proposes a new regime.

The credit crunch is providing us with the chance to review all regulation and consider it in a new light. One thing that desperately needs reform is corporation tax.

It’s amazing to think that this tax was created in 1965 and since then has staggered on, subject to ever increasing tinkering with its mechanics, yet without fundamental re-appraisal despite the massive change in the corporate world that has occurred over the last three decades.