Kevin Nicholson on giving evidence at the Public Accounts Committee and the need to talk about future tax reform
December 09, 2014
Yesterday I gave evidence to the Public Accounts Committee (PAC) on tax arrangements in Luxembourg and the role of accountancy firms. As the PAC said, its focus was arrangements put in place in the past. There wasn't the opportunity to talk about the future.
PwC has long supported tax reform - we want a tax system in tune with the ways businesses operate today, and a system that people trust. Reform isn't a distant aspiration; the OECD's international tax reforms are progressing faster than many people had anticipated.
At the same time, we need to take a more strategic look at the UK tax system - and this is what our Paying for Tomorrow campaign is all about. What should we tax and why; can tax change behaviour, and if so what activities should we encourage or discourage? These are the types of questions we need to debate if the UK is going to continue generating the hundreds of billions of revenues it needs.
On our website you can see the thinking we've gathered so far, and do please share your views.