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GAAR - catch all for sloppy legislation ...
To what extent are the Governments GAAR proposals a cover up for sloppy legislation in the first place? - just look at all the subsequent amendments to anything currently on the statute book
Inevitably the inability of Government to clearly & concisely articulate the rules leaves the whole process open to doubt and possible challenge - shambolic
In fact for the future why not deliberately keep all legislation sufficiently vague as to ensure that there is absolutely no clarity and potentially everyone gets caught because of interpretation.
Something along the lines of 'do not arrange any of your tax affairs because we disapprove of this approach' would be the only piece of legislation needed.
The savings would be immense because this 'one-liner' would replace all existing legislation and armies of civil servants could all be dispensed with.
Ideal situation, massive public sector savings and Government interpreted legislation - win, win ...
Hypocrisy
George first states:
“Two hundred years ago, Adam Smith set out the four principles of good taxation – and they remain good principles today. Taxes should be simple, predictable, support work, and they should be fair.”
Yet subsequent talks of GAAR.
Retrospective assessment of taxes is not simple, does not support work, and certainly isn’t fair. The only predictable thing is that it will be a dog’s breakfast.
All we want is clear, simple laws that are fair; also the rule of law, not civil serpants. The effect will be growth.
Unfortunately politicians
are still trying to con the public into believing that tax avoidance is wrong - when will they ever learn.Sorry tax avoidance that they don't like is wrong. A message for GO, tax payers don't like aggressive stealth tax, compliance and penalty regimes. Tax payers also don't like having to foot the bill for bailing out financial institutions that cause mayhem and then have the audacity not to lend to small business in order to get the country out of the smelly stuff.