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OTS releases initial review of tax definitions

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The Office of Tax Simplification (OTS) is carrying out a project to identify and measure the factors responsible for tax complexity. As part of the project, definitions in tax legislation have been considered. For the first stage, the OTS has released a paper, which outlines initial findings, identifies commons themes, analyses the large number of definitions used within tax legislation, and considers some suggestions and guidelines.

Whilst making no firm recommendations at this stage, the OTS’s preferred approach is to try to identify features of a ‘good’ or helpful definition for future use, tending away from the introduction of an interpretation act for tax legislation and towards creation of a database of definitions.