Forum calls on UN over taxpayers' rights.
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.