Hartley Foster Head of Tax Litigation and Aileen Barry Director National Tax Investigations DLA LLP comment on the direct tax and VAT schemes disclosure regime in Finance Act 20041
The philosophy of the Government is that increases in the revenue take primarily are to be achieved not by increasing tax rates or by introducing new taxes but by closing the 'tax gap' (that is the difference between what the taxing authorities collect and what they should have collected). Similarly the Inland Revenue's departmental report of Spring 2004 indicated that tackling non-compliance is a key aim and that this involves both combating evasion and challenging avoidance. There is a determination on the part of the fisc that its 'customers' can no longer 'avoid' tax.
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Hartley Foster Head of Tax Litigation and Aileen Barry Director National Tax Investigations DLA LLP comment on the direct tax and VAT schemes disclosure regime in Finance Act 20041
The philosophy of the Government is that increases in the revenue take primarily are to be achieved not by increasing tax rates or by introducing new taxes but by closing the 'tax gap' (that is the difference between what the taxing authorities collect and what they should have collected). Similarly the Inland Revenue's departmental report of Spring 2004 indicated that tackling non-compliance is a key aim and that this involves both combating evasion and challenging avoidance. There is a determination on the part of the fisc that its 'customers' can no longer 'avoid' tax.
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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