Morally Wrong?

[The Esk]

My brother's wife sister's husband is a millionaire over in London. Says the 1st thing he was taught at the investment firm he works at was which country he should stash his earnings in.

That is probably true !

However, even when armed with the knowledge of how to avoid paying due taxes that person still has to make the conscious decision to do so, hence this is a moral issue as well as a legal issue.

Separately and usually over-looked is the unfair commercial advantage obtained by larger Companies who can spend considerable amounts of time and money reducing their corporation tax liabilities. Smaller, medium sized companies don't usually have similar resources and as business taxes are effectively just another business cost it allows these larger companies to achieve greater margins, higher returns on capital.

Thereby through use of unethical and morally bankrupt tax strategies they not only steal from the tax payer (usually their customer) but steal an unfair advantage over their competitors.

I don't hear Cameron or Osborne making those comments with regards to Barclays or Vodafone or other companies with similar practices!

 

[Kurt.]

That is probably true !

However, even when armed with the knowledge of how to avoid paying due taxes that person still has to make the conscious decision to do so, hence this is a moral issue as well as a legal issue.

Separately and usually over-looked is the unfair commercial advantage obtained by larger Companies who can spend considerable amounts of time and money reducing their corporation tax liabilities. Smaller, medium sized companies don't usually have similar resources and as business taxes are effectively just another business cost it allows these larger companies to achieve greater margins, higher returns on capital.

Thereby through use of unethical and morally bankrupt tax strategies they not only steal from the tax payer (usually their customer) but steal an unfair advantage over their competitors.

I don't hear Cameron or Osborne making those comments with regards to Barclays or Vodafone or other companies with similar practices!

The bottom line is though that it is not illegal.... therefore people/companies will take advantage of loopholes.

 

[The Esk]

The bottom line is though that it is not illegal.... therefore people/companies will take advantage of loopholes.

So as a nation are we governed by purely legal frameworks? Is there no room for morality? No value for a Company to show superior morals than its competitors?

How can large Companies act with impunity with regards to their tax affairs, yet the PM point out one relatively insignificant individual?

Of course the best solution would be to simplify the tax system to reduce the scope for avoidance but that's not going to happen under any Government of any colour - weird when they are desperate for funding of any kind.

 

[Kurt.]

So as a nation are we governed by purely legal frameworks? Is there no room for morality? No value for a Company to show superior morals than its competitors?

How can large Companies act with impunity with regards to their tax affairs, yet the PM point out one relatively insignificant individual?

Of course the best solution would be to simplify the tax system to reduce the scope for avoidance but that's not going to happen under any Government of any colour - weird when they are desperate for funding of any kind.

It's not ideal I know and it's deffo not fair..... but it is legal.