- Britain’s VAT rules are overly complex and need simplification.
- Businesses should advocate for VAT to be applied broadly, similar to New Zealand’s approach.
- Simplifying VAT could reduce compliance costs and help address the fiscal deficit.
- Extending VAT to more items is plausible given the current fiscal situation.
- Some revenue from VAT changes could be used to reduce other taxes.
Source: observer.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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