As per Andrew Oury (partner at Oury Clark):
"My concern is that the government hasn’t considered the full ramifications of the MTD project. To my eye, it looks like MTD has been designed with a linear mindset that only has one goal: to meet revenue targets. Businesses have always had idiosyncrasies – unexpected periods of fallow earnings, for example – and, up until now, there has been some leeway in coping with them within the comparatively rigid tax framework. I also would hate entrepreneurship to be stifled in this country as a result of taxing income too rapidly.
Serious questions will need to be asked of this initiative to avoid sleepwalking into disaster."
In other words it will add to the costs of businesses and won't work in the real world.
Tax does have to be taxing.
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