Commission on Taxation 2008
The newly established Commission on Taxation recently invited submissions from interested parties on its work. As well as contributing to a joint submission with the other accountancy bodies under the CCAB-I umbrella, ACCA also made its own supplementary submission to the Commission. This submission focused on pension provision and freeing dead capital to grow the working economy. ACCA suggested that an SSIA-style pension be introduced, with matching state funding to a certain level, but also with the flexibility to draw down some of the funds prior to retirement. ACCA also suggested reforms of Capital Acquisition Tax (CAT) and Stamp Duty to encourage the circularisation of capital currently tied-up in non-prodcutive assets. A full copy of the ACCA submission is attached.
Note that full details of the CCAB-I submission can be found on the ICAI website