The Association of Chartered Certified Accountants (ACCA) announced on Thursday that it wants to see a Tax Policy Committee established which would work in the same way as the Bank of England’s Monetary Policy Committee. This would add certainty and transparency to an overly complex system, the body argued.
“Following changes to non-dom rules announced recently by the Government, this is a wake-up call to radically change the setting of tax policy,” argued Chas Roy Chowdhury, head of taxation at ACCA.
He went on to add that: “The recent to-ing and fro-ing on important tax policy issues is damaging to UK plc’s reputation and creates an uncertain business environment.”
“Government can no longer make decisions in isolation from key players and a more consultative, open approach on policy is required. The Tax Policy Committee would help to establish a more open, independent style," Chowdhury concluded.
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