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Accountants and the costs of compliance

Article Abstract:

Research by the University of Bath of the costs to the government and the private sector of administering and complying with the value-added tax (VAT) regime was conducted for the years 1977-78 and 1986-87. Research results indicate that there was a one-third drop in the cost of compliance by the public sector in real terms between 1977-78 and 1986-87. Four key reasons the costs of compliance declined where learning curve effects, the abolition of a higher rate of tax in 1979, changes implemented in 1984 replacing zero-rates with standard-rates for new building work, and the introduction of simplified VAT procedures by Customs and Excise. In the future, the price of compliance likely will increase due to new rules on commercial building and land and new accounting rules and penalties.

United Kingdom, Taxation, Value-added tax, Tax policy, Great Britain

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The EC social charter takes shape

Article Abstract:

The European Commission has created a social charter of fundamental social rights for workers in the European Community. The fundamental rights guaranteed workers by the social charter include the freedom of movement, the right to a fair wage and choice of employment, and the improvement of working and living conditions. Directives proposed during 1990 cover safety and health, working conditions, and the distortion of competition. The Commission is planning to implement directives in 1991 that will cover financial participation of workers in their employing firm, child labor, vocational training, and the employment of the disabled.

Europe, Laws, regulations and rules, European Union, European Union. European Commission, Workers

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