Tax is a hidden issue in British public debate, but the system is ripe for reform, and there is an urgent need for change in the economy amid uncertainty over the impact of Brexit, according to a report commissioned by the Institute for Public Policy Research.
The IPPR Commission on Economic Justice is calling for “an urgent public debate on taxation, the role of the financial sector, the power of trade unions, and the market dominance of digital companies such as Amazon, Facebook and Google.”
The commission is exploring how the tax system can be simplified and made more progressive, and how wealth can be more fairly taxed …
New models for taxing “international digital companies” — for example, on the basis of revenues rather than reported profit — are also being explored. The report notes that UK corporation tax can “largely be avoided by internet platform companies and other multinational businesses.” The report does not mention the OECD’s base erosion and profit-shifting project, however. Read more:
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