RegulationAccounting StandardsACCA calls for tax policy board to be established

ACCA calls for tax policy board to be established

Chas-Roy Chowdhury calls for Gordon Brown to establish a tax board that would have a role similar to that of the MPC, reacting to economic conditions in setting tax rates

ACCA’s tax chief has challenged Gordon Brown to set up a panel of experts
that would have responsibility for setting the UK’s tax rate.

In a column in the
Daily Mail, Chas
Roy-Chowdhury said that a tax board should be set up, which would have a
similar mandate to that of the Monetary Policy Committee.

ACCA’s head of taxation believes the move will give a greater insight into
the complexities of setting tax rates and provide greater transparency.

Roy-Chowdhury said: ‘With a TPC, we believe tax policy decisions would, like
the MPC, be more effective, open, accountable and free from short-term political
manipulation.’

He added: ‘Because tax is complex, it regularly confounds personal and
business tax payers; from small firms to large businesses. Successive Budgets
and subsequent finance bills are pulling the tax system along the path to even
greater complexity.’

Further reading:

Taxpayers have a right to know their
rights

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