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Tax Evasion and Ethics
Tax Evasion and Ethics
eBay avoided 50m in tax IKEA halved its tax bill List goes o .
Starbucks paid less than 1% tax on its profit Former Italian Prime Minister Bersculoni
Who is affected?
Government
Less of taxes Fiscal deficit Profits siphoned off to other countries
General public
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 Another way is bribing the Income Tax officials
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
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Is there a company that can get success without ethics? Fro the fa ts, the a swer see s to e NO Whether E ro or A derso or our ow atya , 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