The International Accounting Standards Board has issued IFRS 8 today on segment reporting. In their press release they did however add the following comment:
The Board will continue to examine the merits for a requirement of country-by-country disclosure as suggested by supporters of the Publish What You Pay campaign. A group of Board members will discuss […]
It’s been put to me that tax minimisation is required by professional ethics. I don’t agree. There are two reasons:
1. Firstly, reasonable code of professional ethics would require tax minimisation by the profession. firstly because this projects an objective onto the client which they might not share, and that would be unethical; secondly because it […]
Several people have challenged me about what tax compliance might be in comments in other postings on this blog. So I thought I’d better tackle the issue again.
Tax compliance means complying with the law. The spirit of the law. Not seeking to get round the law. In which case of course incorporation is allowed. I […]
Dennis Howlett gets it spot on with this one.
Go to his place to read it.
If evidence is needed that advisers are out of step with the realities of life this provides it.
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It’s OK to quote Polly Toynbee now. David Cameron does. I’m on side, apparently. So take this from her column in the Guardian today:
Yesterday, promoting their latest survey of 87 top executives, the CBI said two-thirds complain about tax. Only two-thirds? Who are the one-third who are happy with their taxes? The CBI claims the […]
As anyone who has read the UK press in the last couple of days knows, they’ve been issuing their usual bleat in advance of their conference . As Reuters reported it:
“Our survey shows that business leaders believe the UK’s corporate tax regime is more burdensome than it was five years ago, and that this is […]
The Wall Street Journal reported yesterday that:
Publicly traded companies reduced their U.S. taxable income by at least $34.8 billion in 2004 through potentially abusive tax transactions without taking a similar hit on profits reported to shareholders, new Internal Revenue Service data show.
The vagaries of accounting rules and tax laws allow public companies to keep two […]
Stuart Jones posted a comment on my piece called ‘Do small businesses evade tax?’. He said:
I’m sorry Richard but there are limits:
” ……the profession is a key supplier of services that at least assist taxation abuse and that greed is the motivator …”.
I assume by “the profession” you mean qualified accountants ie the majority will […]
On yesterday’s Sunday Talkback show on BBC Radio Jersey Senator Frank Walker, the First Minister of the island (equivalent to prime minister was asked if Would face me in a head to head debate. When this opportunity almost arose in June 2005 in the States of Jersey (their parliament) he simply refused to attend, despite […]
Dennis Howlett has written some very confused articles on tax evasion over the last few days: so confused that I am not sure where Dennis thinks he’s heading.
His latest is worth reading. Because it’s the most recent it might suggest that he’s been working out his own confusion, because the earlier ones are much harder […]
