Tax collaboration study welcomed

News Article - 14 January 2008
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Accountancy firm KPMG has welcomed a tax study by the Organisation for Economic Co-operation and Development (OECD) as a "breakthrough" towards making tax collaboration part of economic policy.

The firm reports that following the study, it is clear that the relationship between taxpayers, tax advisers and revenue bodies needs to be enhanced and strengthened.

It also found that companies need to provide responses and information about their operations in order to reconcile tax law differences with the revenue body.

KPMG reports that revenue bodies and tax authorities are also expected to offer disclosure, transparency and fair approaches to resolving tax issues, and that the OECD has recommended a UK-style approach.

Sue Bonney, head of tax in the UK at KPMG Europe, commented: "An enhanced relationship in the form of increased collaboration between taxpayers, tax authorities and tax advisers, real-time working and a risk-based approach to allocating resources all make sense if they achieve earlier certainty on a business's tax position."

Recently, Mercer's Worldwide Individual Tax Comparator Report rated the UK as the 14th most attractive personal tax environment out of 32 nations. Ireland was rated 18th.

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