Context: Concern over a falling share of corporation tax revenue may get worse.
Falling share of corporation tax: An overview of recent trend.
Reasons for the decline of corporation tax revenues: Between 2014-2021.
Distinct anomaly: While the number of companies to be taxed have increased, this has not resulted in a consequent increase in revenues.
Conclusion: The government’s worry on the corporation tax revenue front is not going to end soon. In fact, it may worsen until the growth engine revives sustainably to make good the loss on account of the lower tax rate.