UK to review tax rules for foreign sovereign investors

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Daffodils bloom in front of the Treasury building, ahead of Wednesday's budget being delivered by Britain's Chancellor of the Exchequer Rishi Sunak, in London, Britain, March 1, 2021. REUTERS/Toby Melville/File Photo

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LONDON, July 4 (Reuters) - Britain on Monday said it had launched a consultation to better focus the tax incentives which it offers to foreign sovereign investors and codify them fully in law.

"Our reforms will provide more clarity on the tax exemptions on offer to sovereign investors, while also ensuring they deliver better value for money for UK taxpayers," Financial Secretary to the Treasury Lucy Frazer said.

The government said it did not expect the proposals to have a material impact on foreign investment into Britain.

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Reporting by Farouq Suleiman; editing by David Milliken

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