Leading tax professionals comment on the recommendations of the GAAR study group.
The government will deliver permanent reductions in spending, using the savings to fund infrastructure investment and support social mobility, HM Treasury announced in today’s autumn statement.
‘The richest home buyers in Britain are costing the country as much as £1bn a year in lost stamp duty on house sales. Research by The Times shows that wealthy British and foreign buyers of one in three houses sold for more than £1m are avoiding the 5% stamp duty.’
Tax evasion costs more than the entire health budget in each of 67 countries, according to new research published by the Tax Justice Network.
The Institute of Directors has welcomed Graham Aaronson’s report on a possible general anti-avoidance rule (GAAR) and noted that the report recommends a well-targeted, moderate rule that ‘should only bite on tax planning that is clearly abusive’.
A wide range of views on the pros and cons of a general anti-avoidance rule has been reflected in Tax Journal’s ‘One minute with ...’ series of interviews with leading practitioners.