David Jetuah, Accountancy Age, Tuesday 8 June 2010 at 08:58:00

Taxation institute wants a revamp of tax law policy, warning many facets ofthe process need improvement

Tax chiefs at the CIoT have called for a panel of Lords and MPs to beestablished so wrangles in tax legislation can be avoided.

The institute, which hasreleased a paper on the issue, wants to start a wide-ranging debate toreform the way in which tax law is made, warning many facets of the process needimprovement.

CIoT President Vincent Oratore said current methods for shaping tax laws were"deeply flawed."

"A key part could be played by a new Joint Committee on Taxation, bringingtogether MPs and peers to form a new body to provide improved scrutiny of taxlegislation," the CIoT said.

"Such a committee, backed up by a strong professional staff, could play animportant role in reducing the amount of badly constructed laws. These can givesome taxpayers unintended opportunities to avoid tax while others faceunintended losses."

Further reading:

CIoT sets up branchinside HMRC