TaxCorporate TaxCBI report slams finance bill as ‘deficient’

CBI report slams finance bill as ‘deficient’

Business leaders join chorus of dissatisfied critics of the finance bill, blaming it for a deficient tax system

The
CBI
has joined a chorus of critics complaining about parliament’s poor scrutiny of
latest finance bill, adding to UK’s deficient corporate tax system.

Last week’s finance bill will undergo clause-by-clause examination by a
committee of MPs who are likely to consider hundreds of amendments proposed by
opposition parties, backbenchers and ministers themselves, the Financial
Times
reports.

But the effort is largely futile, according to a newly released CBI taskforce
report.

The report concludes ‘it would not be unreasonable to say that, as a result
of technical complexity, length, lack of time, tight government control and a
lack of technical expertise, there is no genuine scrutiny of the finance bill
under the present system’.

Further reading:

Finance bill adds to tax complexity, says ACCA

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