This week's Accountancy Age/Reed Accountancy Big Question survey asked whether the UK should resist attempts to harmonise taxes in Europe, following pressure from the European Commission to impose VAT on children's clothing. Of those polled, 74% argued that the UK should resist such moves with only 21% advocating greater tax harmonisation.
Some argued that tax decisions should always remain a local choice.
'Tax rates, like interest rates, should reflect the needs of the economy of a country,' said Andrew Pearson of Laser Lines. 'The state of individual country economies varies greatly and to have pan-European rates is not appropriate.'
There were, however, some who felt that tax harmonisation would be a positive move overall.
'If we are serious about Europe, then to ensure full free trade, tax rates across the board need to be harmonised,' argued one respondent.
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.