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The statutory rate is linked to the 30-year Treasury bond.
The highest statutory rate, 39.6percentt, applies to incomes of more than $288,350.
Taxed at the statutory rate of 22%, 2014 profits would have generated about £232,000 for HMRC.
We certainly don't apply any rate of tax other than the statutory rate that parliament has published".
If that were adjusted for then [year ended 30 March 2008], the rate would be above the statutory rate.
Despite improvements to enforcing the statutory rate, new ways of cheating have emerged, said the union organisation.
It was one of two companies that paid more than the 35percentt statutory rate because of multiyear tax rules.
The statutory rate of 35% is dramatically higher than that of many of our trading partners, while the average rate — what firms actually pay — is considerably lower than the statutory rate.
Fathers are currently eligible for two weeks' paternity leave paid at the statutory rate of £138.18 a week – an entitlement that 55% of fathers take up.
All women could receive a higher statutory rate, ensuring those on more modest means have the choice to spend longer off work.
If Australia's most profitable corporations paid the statutory rate it would improve the budget bottom line by $8.4bn, the report said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com