TAX NEWS - June 2010

The Chartered Institute of taxation (CIOT) calls for changes to the way tax laws are made

The Chartered Institute of taxation (CIOT) has called on the government to make changes in the way tax laws are made in the UK.

According to the organisation, there are many areas of the process that are in need of improvement and the new government should follow the lead of the US.

As such the Chartered Institute of taxation (CIOT) has called for the creation of a new Joint Committee on Taxation, which could scrutinise new tax legislation.

Vincent Oratore, the organisation's president, said: "The way tax law is made in the UK is deeply flawed. There is not enough expert scrutiny and there is insufficient parliamentary time to consider properly the effect that changes will have in practice.

"I believe we can learn something from the Americans, who have a well resourced Joint Committee on Taxation which enables members of both Houses of Congress to play a meaningful and constructive role in the making of tax law."