EUROPEAN PLANS to crack down on tax avoidance have been welcomed by the ICAEW's chief executive.
In his blog, Michael Izza (pictured) says that the EC's plan to fight tax dodgers – badged as a 'Fight Against Fraud and Tax Evasion' – through the use of information sharing and general anti-avoidance rules is a "real opportunity" to create a consistent and fair approach to corporate and personal tax.
"We need a system that allows businesses to do what they are best at doing; creating useful products and services, and making profits, while contributing fairly to society," said Izza.
He said that the current tax system was set up at a time when "business was much simpler". Concerns now abound about the erosion of the tax base due to its "policing" through transfer pricing and the arm's length principle.
The institute sparked controversy earlier this year by taking a strong stance against aggressive avoidance, outlining to members where it believes they could fall foul of its rules about peddling certain types of tax scheme.
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
This web seminar will explain how finance directors can monitor and understand the various financial costs of staff turnover, including logistical costs and the impact of lost productivity as new employees are brought up to speed
8.30am, 26 Jun 2014
Targeted at FDs and CFOs, the FD Conference 2014 provides a platform in which to learn from outstanding keynotes and network with like-minded peers
Send to a friend