Just in Europe there are huge differences in corporation tax levies - Germany up to 33.3%, Belgium 34%, Italy 31.4%, Spain 28% whilst the likes of Ireland are at 12,5% along with Cyprus and Liechtenstein, Montenegro 9%, Bulgaria and Bosnia 10%, Switzerland 16.55% and Malta goes as low as 5% (where Vistajet are now lock, stock and barrel). The Swiss and Liechtenstein also have really low VAT at 8%. Anyone with any sense is going to play the tax game to protect their investments, businesses and minimise outgoings. The UK is proposing to go to 18% in 2020 so we recognise the issue and don't want to lose out to a great extent to our lower tax neighbours. Of course if we leave the EU, our economy could be so shaken up that corporation tax could be radically changed to compensate.