Due to the importance of tax legislation and its wide impact on businesses, individuals, and the legal profession, the Bar Association’s independent tax analysis, consideration and input are crucial.
The Revenue Committee serves a number of functions including:
- Evaluating the efficacy, fairness and the legal foundation on which proposed and current tax legislation are founded
- Recommending positions on the constitutionality and efficacy of proposed, pending and enacted tax legislation
- Offering practitioners information on developments with respect to tax legislation and assisting members to maintain expertise in the field of tax law, and expanding their professional contacts
- Providing a forum for practitioners to collectively voice their opinions, concerns, and suggestions on legislative developments in the area of tax.
Moving forward, the sub-committee will be engaging policy makers, among other things:
- To provide the Bar Association and the wider public with an earlier opportunity for substantial input into the tax policy formulation process or in respect of draft legislation
- To adopt measures that will foster a higher degree of transparency between the tabling of any Tax Bill and the commencement of debate on the said Bill, and by extension, enabling quality advice and input from stakeholders, resulting in better administration and compliance
- To provide timely educational sessions on current tax topics and laws, for the benefit of the legal profession and the public
- To develop a tax “rewrite” project aimed at collating all the tax laws in a coherent and cohesive manner and to allow ease of access to tax laws
