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The Revenue’s policy-making activities are not always conducive to a fair tax system
KEY POINTS
- A fair tax system would not tolerate legislative inconsistencies.
- Inconsistencies in the TCGA 1992 degrouping charge.
- Does the substantial shareholdings legislation work as it should for singleton companies?
- Why was an error of drafting not corrected retrospectively?
- Will highlighting such issues lead to their resolution?
Many people have tried to define the perfect or perfectly fair tax system. I suspect most of us would consider that such a system would tax everyone else except ourselves. Seriously though I consider certain features to be essential to a fair tax code.
First the code should be coherent so that it makes some kind of logical sense in policy terms. Second there should be a degree of consistency between those areas of the...
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