The Institute for Fiscal Studies (IFS) is bringing together leading experts in tax and public economics from around the world to identify what makes a good tax system in the 21st century and to come up with specific proposals for the reform of the British tax system. The review - "Reforming the Tax System for the 21st Century" - will be led by Professor Sir James Mirrlees, joint winner of the Nobel Prize for Economics in 1996.
Over the next 18 months, teams of experts will examine several key issues in tax design, including: the taxation of incomes, expenditure and saving; personal tax rates; VAT; environmental taxes; business taxation; compliance and administration; the impact of globalisation; the current state of the UK tax system; and the political economy of tax reform. There will also be a specific studies of small business taxation, and the responsiveness of a) labour supply and human capital and b) savings and consumption to the design of the tax system.
More details about the Review can be found on its website.
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