Territorial looks favourite but let’s take time on tax

Monday 23rd August 2010, 2:30PM BST.

A TERRITORIAL system of taxation is the most likely replacement for zero-10, according to Chamber of Commerce president Julian Winser.

He said the business group’s financial, legal and tax sub-group had put the finishing touches to its response to the public consultation process on a tax strategy replacement last week, ahead of the deadline on Friday this week.

‘It appears to be a general opinion that we are probably heading down the territorial route, which has been accepted and taken on in other places,’ said Mr Winser (pictured).

‘This is on the principle that it’s been implemented in places for a while, which implies that there is tacit acceptance for it by those who have indicated that they were less than pleased with zero-10.’