Senator Carl Levin and the US Senate Permanent Sub Committee on Investigations have been back in action, looking at non-payment of payroll taxes in the US. As is usual they commissioned a report from the US Government Accountability Office on the issue. It’s findings are staggering:
IRS records show that, as of September 30, 2007, over [...]
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A commentator on my blogs on the IFS proposals for the reform of VAT said:
Surely, if we wish for integrity in any debate like this, we must complete the proposition with ‘all other things being equal’. If we cancel a vat subsidy, we would have a very large pot of cash. The virtue or otherwise [...]
Over at TaxationWEB I voice my concern over HM Revenue & Customs’ sweeping programme of local office closures and staff reductions.
As I conclude:
Let’s face reality: local is good. Please stop these closures.
SHARETHIS.addEntry({ title: “TaxationWEB: Stop the closures”, url: “http://www.taxresearch.org.uk/Blog/2008/07/30/taxationweb-stop-the-closures/” });
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I missed a letter in the FT last week from Lord Wallace of Saltaire, the Lib Dem peer and former LSE academic. He said (and I have edited a little):
The “anger and alarm” from British-based multinationals you report (”Darling in U-turn on foreign profits tax“, July 21) concerning Treasury proposals for corporate taxation should not [...]
Deputy Geoff Southern is one of Jersey’s political opposition. It’s a brave thing to be.
He has a fascinating letter in today’s Jersey Evening Post. He says:
As a rule of thumb, wealthy residents can expect to pay 20% on their first £1m of (declared) Jersey income; 1% on the next £1m and 0.5% on the rest.
We [...]
I expect to find File of 4 on Tuesday 15 July very interesting. The trailer says:
Profits before poverty?In 1948, the post-war Labour Government set up the Colonial Development Corporation, a tax-payers’ fund to promote industry and agriculture in the poorest parts of the Empire.
Sixty years on, today’s Labour Government denies suggestions that it wants to [...]
AccountingWEB (amongst others) has reported that the Tories have issued a press release saying:
A report by a working group headed up by ex-chancellor Lord Howe has suggested the establishment an Office of Tax Simplification (OTS) to examine the existing tax code and make proposals for simplification. As well as being staffed by HMRC and academia, [...]
There was an extraordinary piece of information in the Observer newspaper on Sunday. It was noted with regard to equity investors that:
Retail investors have voted with their feet. According to the Investment Management Association, more people have cashed in their Isa equities savings plans than taken out new ones in each year since 2004, despite [...]
The Guardian has reported that:
The shadow chancellor, George Osborne, yesterday promised a radical reform of fuel duty that would have given motorists an immediate cut of between 5p and 6p a litre on the price of petrol at current rates.
The Conservatives say they would introduce what they call a “fair fuel stabiliser”, which would mean [...]
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I attended the first hearing of the Treasury Select Committee on Offshore Financial Centres this morning. It was to this committee that we submitted Tax Havens: Creating Turmoil.
The session started well when John McFall, the committee chairman, quoting from Creating Turmoil, as referred to in the Observer on Sunday, asked the panel their first question, [...]
