London. James Ratcliffe, Britain’s richest man, has prepared to leave the UK. He’ll sit in Monaco It is being told that they are doing this to save tax of four billion pounds (about 36 thousand 700 crores). Monaco, situated along the Mediterranean Sea, is known as a tax-saving country. Retlecliffe has been a supporter of Brezgit (Britain’s separate European Union). He also opposes the stringent rules of the European Union.
Talks on Save Tax
Ratcliffe is also discussing plans to save tax with the UK government. If he gets success, then he and his company’s two officers, Andy Curie and John Rees, can get a tax-free 10 billion pounds.
Ratcliffe had come to the discussion when he had reprimanded the European Union (EU) for making strict rules on tax. At the same time, the EU’s green tax was termed as crap and that it would end Europe’s chemical industry.
At the same time, Liberal Democrat Party leader Vince Cable called James to leave the country was wrong. He said that our thousands of people are going bankrupt with the action of the Department of Revenue. The Revenue Department imposes a duty on avoiding small scale tax, whereas big clerks such as Rictcliffe only consider to be taxed entirely voluntary.
Ratcliffe owns a chemical company named Enoos. Its annual turnover is 45 billion pounds (41 lakh crores). More than 18 thousand people work in 22 companies of the company. The company’s products are used for cleaning water, toothpaste and antibiotic, home security and food packaging.
Ratcliffe first received help from the government. They had borrowed 23 million pounds (about Rs 2118 crore) from the government to set up a gas company in 2014. James Dyson, another supporter from Bregenz, has also announced to head his company from the UK to Singapore.