Commenting on the Chancellor’s Spring Statement, Stella Amiss, head of tax policy at PwC, said:
“As expected, there were no immediate tax changes in today’s Spring Statement. While the economic message was robust, the door has clearly been left ajar for a possible summer Brexit Budget.
“The Chancellor was at pains to stress the importance of an updated regulatory model that will deliver for a Global Britain in the digital age. It’s a shame no such acknowledgement was made of the need to overhaul a creaking tax system to support modern ways of working and doing business, let alone those that will follow in the future.
“This was a speech very much aimed at future generations. But while technological advancements continue apace and the ways in which people wish to work constantly evolve, our tax system will find itself lagging behind. We did see a nod towards a continued commitment to the UK Digital Services Tax, but what is ultimately required is the start of a conversation to address the fundamental issues within our tax system. There’s only so long we can keep kicking the can down the road.”
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