UK Publishes Final Bills Introduced To Tax Law Rewrite
The Corporation Tax Bill and the Taxation (International and Other Provisions) Bill introduced in Parliament by the Financial Secretary to the Treasury, the Rt. Hon. Stephen Timms MP, are published today.
These Bills are the sixth and seventh produced by the Tax Law Rewrite project which rewrites UK direct tax law to modernise it so that it is clearer and easier to use.
In a written statement Stephen Timms said:
“These two Bills complete a 13 year task of rewriting the majority of direct tax legislation for individuals and businesses that started in 1996.
They are the Tax Law Rewrite project’s final Bills and maintain its high standards in making tax legislation significantly easier to use. This would not have been possible without the expertise, time and commitment of all those involved in commenting on the provisions during consultation and I would like to thank them and the members of the Tax Law Rewrite project’s Steering and Consultative Committees for their invaluable help in making the project’s work such a success.”
The Bills were published in draft on 3 March 2009 for consultation and Response Documents reporting on the outcome of the consultation were published on 3 September.
The key features of the project are:
- Clearer, more logical structure for tax legislation;
- Use of plain language and other reader aids;
- No alteration of main tax policies;
- Some minor policy changes, where these further improve the current legislation;
- Full consultation to agreed timetables with interested parties; and
- Streamlined Parliamentary procedures for enacting “rewrite Bills”.
Topics: Corporate Tax, Governance, government, modernise law, parliment, Private Tax, revenue, Rewite, tax, United Kingdom
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