Tax Avoidance OR International Accounting Standards - Dissertation Example

Only on StudentShare

Extract of sample
Tax Avoidance OR International Accounting Standards

Thus, they maintain a liberal tax system for businesses and maintain a more stricter tax system for individuals. Due to this, most businesses have many options of manipulating tax law to their favour in order to pay less taxes. In principle, taxes are paid to promote social justice and assist the government and corporate sector to meet its objectives and needs. If an individual or business entity fails to pay taxes, they are liable to prosecution and this could result in fines or jail terms (Blankson, 2004: 3). This implies that although failure or refusal to pay taxes could have serious consequences, there are some kind of loopholes which can be explored by corporate entities in order to pay less taxes. The ACCA identifies that everyone must arrange his affairs to pay less taxes and it is not even a patriotic duty to pay more taxes (2009). This means that it might be desirable to arrange one's affairs to pay the minimum tax possible. James identifies that “tax avoidance involves the taxpayer using the tax rules to his best advantage to minimise his tax liability” (2009: 129). Hence, the practice of tax avoidance entails the examination of the tax rules to identify the best way of arranging one's affairs to pay the least possible taxes. However, this theory seem to be in conflict with the normal view and spirit of taxation which is to promote social justice. ...Show more

Summary

A Critical Analysis of the Concept of Tax Avoidance and an Assessment of the Popular Trends in Tax Avoidance in the UK Corporate Sector & the Role of Stakeholders. Chapter 1: Introduction There are two main categories of taxes (Blankson, 2004). These are the personal taxes and corporate taxes…
Author : ashleehoppe
Save Your Time for More Important Things
Let us write or edit the dissertation on your topic
"Tax Avoidance OR International Accounting Standards"
with a personal 20% discount.
Grab the best paper

Related Essays

Culture and Accounting
Aim and objective of the study are: to identify the cultural values present in China; to identify the accounting practices and values in China; to identify the Hofstede-Gray framework on culture and accounting in China; to evaluate the cultural dimensions of Individualism, Uncertainty evasion, Masculinity and Long-term Orientation for respondents from China.
43 pages (10750 words) Thesis
Finance and Accounting Research Paper: The International Financial Reporting Standards
The International Financial Reporting Standards (IFRS) are a set of guidelines that are sued to guide accountants and financial professionals in preparation and reporting financial information. This paper will discuss the IFRS in terms of its basic information; by discussing its foundation, and how it was formed.
10 pages (2500 words) Research Paper
IAS 16 and IAS 40(International Accounting Standards)
Examples of such property are with the inclusion of land that is held for the prospected use in indefinite future or for the purposes of its appreciation in value, a building being leased under the type of lease known as operating lease or even any given property that has been developed or constructed for future utilisation as an investment property.
5 pages (1250 words) Essay
International Accounting Standards
The objective of the standard seems to be quite clear on the matter. Before the standard was introduced; different treatments where in practice to deal with the matter of leases. The difference caused the Financial Statements to be un-comparable and increased chances of window dressing the accounts.
7 pages (1750 words) Essay
Tax avoidance and evasion schemes
Accounting Introduction The number of reported cases by the media with regard to tax avoidance and tax evasion has been very high. For instance, a report from National Audit Office indicates that HRMC has a backlog of 41,000 cases including individuals and small businesses.
5 pages (1250 words) Assignment
MONEY AND BANKING
Trade deficit in a country is an economic condition, which results when a country imports more goods than it exports. The deficit is equivalent to the goods imported less the value of the exported goods, and it is given in terms of the currency of the involved country. Measuring the trade deficits is difficult and it involves measuring investment flow for different accounts. These include the financial and the current accounts, which are totalled to get the balance of payments.
4 pages (1000 words) Essay
International Accounting Standards
The achievements are also elaborated along with the framework which has made them successful. The report elaborates the concept of fair value accounting system and the arguments for or against the decision of inclusion of the fair value concept in the financial reporting.
16 pages (4000 words) Essay
International Accounting Standards: Revenue Recognition in construction Industry
International Accounting Standards: Revenue Recognition in construction Industry Introduction The IASB and FASB have been working on producing a new standard on revenue recognition for several years now. One of the industries which have been particularly affected by the uncertainty surrounding the development of the new standard is construction industry and the International Accounting Standard 11 (IAS 11) relating to construction industry is expected to be replaced by the new standard in due course.
6 pages (1500 words) Essay
Share buyback
The company can repurchase some or all of its shares from the existing shareholders either intermittently or in a single offer. Such decision could have an implication that the management of the company is lacking better
10 pages (2500 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT