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AITC wants Treasury to end ‘tax distortion’

The AITC is calling on the Treasury to put an end to tax distortions, which it says make the creation of investment trust bond funds commercially unviable.

Director general Daniel Godfrey hits out at rules that make investment trusts pay corporation tax up to 30 per cent on bond income while unit trusts and Oeics pay 20 per cent.

Godfrey says: “The need for increased competition and consumer choice means that the case for reform is compelling.”

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