Taxpayers need an international bill of rights, modelled on the Human Rights Bill, with the right to lawfully reduce their tax burdens, according to a report from an international think tank.
The European Financial Forum says proposals to extend the volume of information exchanged between tax authorities around the world mean a more systematic approach to taxpayers’ rights is required. It argues that an international agreement enshrining the basic ‘rights’ or principles of tax payers should be established by the United Nations.
Insisting that protection should be given against ‘retrospective tax laws, unfair procedures, disproportionately, and breach of confidentiality’, the report states: ‘Taxpayers should be given an explicit right to arrange their affairs in such a way as lawfully to minimise the burden of tax.’
The OECD has been urging for an increase exchanges of taxpayer information in its bid to deal with illegal practices, but the forum believes this should not happen until basic rights have been agreed.
For more on the OECD crackdown, see www.accountancyage.com/Tax/1121663.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice