Shopping & Style19 mins ago
Is it now time to abolish direct taxation ??
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Given that income tax is only a temporary law to assist in fighting Napoleon and Direct taxation amounts to about 10% of total taxation anyway. It no doubt costs 50p to collect a pound, why don't we sweep away the entire direct personal taxation circus, saving zillions in the process and wack it all on Indirect taxation? Making this country hugely attractive to investors/employers? Over time would we not become a larger version of tax havens like Monaco?
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For more on marking an answer as the "Best Answer", please visit our FAQ.It would not attract investors into the country, it would deter them. Companies and individuals can find ways of lessening their tax. Ask Mr Murdoch who is famous for his tax avoidance.
http://news.bbc.co.uk/1/hi/special_report/1999 /02/99/e-cyclopedia/302366.stm
Now, if you were to raise taxes from indirect sources, it would be difficult for companies and rich individuals to avoid them. They would not like that. They would take their business elsewhere.
http://news.bbc.co.uk/1/hi/special_report/1999 /02/99/e-cyclopedia/302366.stm
Now, if you were to raise taxes from indirect sources, it would be difficult for companies and rich individuals to avoid them. They would not like that. They would take their business elsewhere.