As part of the tax profession's contribution to the Lord Mayor's Business of Trust agenda, the Worshipful Company of Tax Advisers and the Chartered Institute of Taxation co-hosted an event at the Mansion House with a very full audience of some 300 from the Livery and the City. The Lord Mayor introduced the programme and the first debate was a UK perspective on whether the public trust in the UK tax system has been impaired by unprecedented levels of tax avoidance. The second debate was an international perspective on the tremendous efforts that Governments and international institutions have put into changing the tax “landscape” in which multinational enterprises operate.
Both debates were extremely interesting. There was a general theme that there was a need to engage with corporations and the public more. On tax avoidance more legislation in the Corporate area was thought to be required and Corporation tax needed to be more robust. It was also considered that Tax Advisors should not be pushing schemes which were against the public benefit. It was considered that some sectors still think tax avoidance is something to be achieved! Principles of taxation therefore need to be embedded in their culture.
The debate continued after over drinks and canapés!
No comments:
Post a Comment