Typical ‘happenstance’. While at university I did a moot (against Alan Moses, no less) which was run by Hubert Monroe QC, the brilliant head of what is now Pump Court Tax Chambers. He told me to keep him in mind if ever I was wondering what to do at the Bar. When I got fed up drafting bills of lading for containers in commercial chambers, I took him up on it.
Who in tax do you most admire?
Hubert Monroe QC was my first hero, as he always put commercial reality and practicality before tax cleverness. Of today’s practitioners, corporate heads of tax like John Cole and Ian Brimicombe of AstraZeneca and John Bartlett at BP, for doing the same, and for maintaining cool professionalism in very pressured jobs.
Looking back on your career, what have you learnt along the way?
First, the old adage – take your chances when you get them. Second – preparation, preparation, preparation. Third – spend more time thinking than writing or talking.
What’s your view on the PAC?
To be congratulated for helping put the issues surrounding tax avoidance and the taxation of multinationals in the forefront of debate. To be heavily criticised for making some very foolish and irresponsible statements in the process.
BEPS – is real reform needed and, if so, will the OECD’s BEPS action plan deliver it?
Is real reform needed – yes. Will BEPS delivery it – maybe. Ultimately, something has to be done to align international taxing principles with current commercial practices. The principles are at least half a century out of date.
What’s your view on the arm’s length rule for transfer pricing?
As I wrote in a draft introduction to a tome on transfer pricing for the IBFD (which the general editor refused to publish), the arm’s length principle cannot work properly in taxing modern multinationals. Quite simply, some things which multinationals do within their groups (usually for entirely commercial reasons) do not take place between unconnected parties.
Legal professional privilege – is the law in a satisfactory state following the SC decision in Prudential?
No, definitely not. If there is to be professional privilege for tax advisers, then it should extend across the board to all professionally qualified and regulated tax advisers.
What’s the future for the GAAR?
I am genuinely delighted that Patrick Mears is the head of the GAAR advisory panel; I can’t think of anyone who would do a better job. As for the future, political pressures may make it necessary to strengthen its deterrent effect. I would be happy enough to see this done by introducing some element of penalty for breach of the GAAR. On the other hand, I would be extremely unhappy to see it done by weakening the essential defences built into the GAAR rules, or by broadening the scope of the GAAR.
You might not know this but…
When I was a teenager, I narrowly missed being trampled on by an enraged elephant; about 25 years ago, I narrowly missed crashing into a mountainside in a helicopter; and a few years later, I narrowly missed being appointed head of Israel’s income tax authority.
Typical ‘happenstance’. While at university I did a moot (against Alan Moses, no less) which was run by Hubert Monroe QC, the brilliant head of what is now Pump Court Tax Chambers. He told me to keep him in mind if ever I was wondering what to do at the Bar. When I got fed up drafting bills of lading for containers in commercial chambers, I took him up on it.
Who in tax do you most admire?
Hubert Monroe QC was my first hero, as he always put commercial reality and practicality before tax cleverness. Of today’s practitioners, corporate heads of tax like John Cole and Ian Brimicombe of AstraZeneca and John Bartlett at BP, for doing the same, and for maintaining cool professionalism in very pressured jobs.
Looking back on your career, what have you learnt along the way?
First, the old adage – take your chances when you get them. Second – preparation, preparation, preparation. Third – spend more time thinking than writing or talking.
What’s your view on the PAC?
To be congratulated for helping put the issues surrounding tax avoidance and the taxation of multinationals in the forefront of debate. To be heavily criticised for making some very foolish and irresponsible statements in the process.
BEPS – is real reform needed and, if so, will the OECD’s BEPS action plan deliver it?
Is real reform needed – yes. Will BEPS delivery it – maybe. Ultimately, something has to be done to align international taxing principles with current commercial practices. The principles are at least half a century out of date.
What’s your view on the arm’s length rule for transfer pricing?
As I wrote in a draft introduction to a tome on transfer pricing for the IBFD (which the general editor refused to publish), the arm’s length principle cannot work properly in taxing modern multinationals. Quite simply, some things which multinationals do within their groups (usually for entirely commercial reasons) do not take place between unconnected parties.
Legal professional privilege – is the law in a satisfactory state following the SC decision in Prudential?
No, definitely not. If there is to be professional privilege for tax advisers, then it should extend across the board to all professionally qualified and regulated tax advisers.
What’s the future for the GAAR?
I am genuinely delighted that Patrick Mears is the head of the GAAR advisory panel; I can’t think of anyone who would do a better job. As for the future, political pressures may make it necessary to strengthen its deterrent effect. I would be happy enough to see this done by introducing some element of penalty for breach of the GAAR. On the other hand, I would be extremely unhappy to see it done by weakening the essential defences built into the GAAR rules, or by broadening the scope of the GAAR.
You might not know this but…
When I was a teenager, I narrowly missed being trampled on by an enraged elephant; about 25 years ago, I narrowly missed crashing into a mountainside in a helicopter; and a few years later, I narrowly missed being appointed head of Israel’s income tax authority.
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