The Joint Committee on Tax Law Rewrite
Bills has agreed to the following Report:
INCOME TAX (EARNINGS AND PENSIONS) BILL
1. The Committee has considered the Income Tax (Earnings
and Pensions) Bill which was referred to it. The Committee heard
evidence on the Bill from officials from the Tax Law Rewrite Project.
The Committee also had regard to the comprehensive process of
consultation with all representative bodies to which the Bill
has been exposed; and the time and care given by individuals and
bodies to the consultation. The Committee paid particular attention
(a) extra-statutory concessions and the basis
on which some are to be incorporated into legislation;
(b) definition of earnings, to highlight
the abolition of the schedules and case system;
(c) operation of approved incentive share
(d) the treatment of benefits in kind;
(e) cases where there are possible changes
in the incidence and burden of tax on individual tax payers; and
(f) some illustrative examples of the before
and after wording and where appropriate the way in which information
from different sections of the Taxes Acts has been woven together
in the new Bill.
2. The Committee accepted the Government's proposed
amendments, which it put forward in response to further consultation
following the introduction of the Bill. The list of amendments
accepted by the Committee is published with this Report as Annex
3. The Committee is of the opinion that the Bill
is a welcome clarification of the existing law and will be easier
to use and more accessible to Parliament, the judiciary, informed
professionals and business people and other users of the legislation.
The Committee is satisfied that the only changes that the Bill
makes to the existing law are of such minor significance that
they need not be referred to the attention of Parliament. The
Committee looks forward to the preparation of future Bills under
the auspices of the Tax Law Rewrite Project.
4. There is no other point to which the special attention
of Parliament should be drawn.
1 The written and oral evidence received by the Joint
Committee is published separately as Volume II. Back