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Tax Evasion and Ethics
Tax Evasion and Ethics
Who is affected?
Government
Less of taxes Profits siphoned off to other countries Fiscal deficit
General public
Less spending from govt., less benefits!
Opinion too varied and depends on the culture Greece has a major tax evasion problem In India, Tax evasion is rampant Specialized persons or firms guide on tax avoidance
employed
Even doctors, chartered accountants or property
valuators, ,builders , chartered engineer ,cine artists , tax consultants, stock brokers do tax evasion
Reason for Tax evasion is lack of trust in government Results into black money which causes illegal activities
bloom.
Is there a company that can get success without ethics? From the facts, the answer seems to be NO Whether Enron or Anderson or our own Satyam, they all finally paid for their Unethical Practices. Arthur Anderson the one-time Big 5 accounting firm went entirely out of business, affecting 22,000 workers, most of whom had no connection to Enron.
Fiercer statutory regulation of the auditing profession Mandatory rotation of audit firms so that individuals
Reputation management and competitive advantage Enhanced social license to operate Employee satisfaction
Risk management
Performances Minimised environmental impacts