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Objects in the rear view mirror

Andrew Parkes (Andersen) considers the limits, if any, on the introduction of retrospective legislation.

Adam Smith’s Wealth of Nations is a book I have tried to read twice. On both occasions before I was defeated by page after page of corn prices I found some wisdom for the ages in his writing.

First if you are contemplating engaging management consultants see what they are offering and how it compares to what you can learn from his description of pin manufacturing.

Secondly and more relevant for Tax Journal consider his maxims for taxation:

  • each citizen should contribute in proportion to their abilities;
  • it should be certain and not arbitrary with the amount time of payment and manner of payment to be clear;
  • the obligation to pay should be convenient to the payer; and
  • collection should be efficient.

Generally and I do mean...

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