In July 2020, the UK House of Commons Treasury Committee has released announced an inquiry into Tax After Coronavirus. The inquiry report has now been released.
The report examines, amongst other issues:
- What the major long-term pressures on the UK tax system are and whether such pressures should be addressed through tax reform;
- What overall level of taxation the UK economy might bear;
- Which areas of the tax system are most in need of reform, and which are best left alone; and
- Whether there might be a role for windfall taxes in the post-crisis world.
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