Sarah Gabbai (McDermott Will & Emery) proposes five reforms that aim to increase revenues and simplify the UK tax system.
Thanks to the fiscal stimulus measures implemented to address the negative economic impact of Covid-19 the government is experiencing unprecedented debt and deficit levels. In addition tax revenues are likely to drop significantly in the coming years due to significant loss carry forwards by businesses and significantly reduced earnings for individuals. These factors alone provide obvious justifications for tax increases at least in the medium to long term if not the short term. It therefore comes as no surprise that the chancellor of the exchequer has recently refused to rule them out.
Previous tax-raising measures by governments of all political persuasions have mostly either stalled or tinkered around the edges without raising significant revenues. This alone argues strongly...
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Sarah Gabbai (McDermott Will & Emery) proposes five reforms that aim to increase revenues and simplify the UK tax system.
Thanks to the fiscal stimulus measures implemented to address the negative economic impact of Covid-19 the government is experiencing unprecedented debt and deficit levels. In addition tax revenues are likely to drop significantly in the coming years due to significant loss carry forwards by businesses and significantly reduced earnings for individuals. These factors alone provide obvious justifications for tax increases at least in the medium to long term if not the short term. It therefore comes as no surprise that the chancellor of the exchequer has recently refused to rule them out.
Previous tax-raising measures by governments of all political persuasions have mostly either stalled or tinkered around the edges without raising significant revenues. This alone argues strongly...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
