Tax Avoidance OR International Accounting Standards Dissertation

Tax Avoidance OR world(prenominal) Accounting Standards - Dissertation ExampleThus, they importanttain a liberal task system for businesses and maintain a more stricter appraise system for individuals. Due to this, around businesses have many options of manipulating tax law to their party favor in order to compensate less taxes. In principle, taxes argon paid to promote social legal expert and assist the government and embodied 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 d electable to arrange ones affairs to pay the minimum tax possible. James identifies that tax scheme contends 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 ones affairs to pay the least possible taxes. However, this theory appear to be in conflict with the normal view and spirit of taxation which is to promote social justice. ... It is express that the largest companies are the ones who hire the best tax lawyers and tax planners to cut down their taxes to the barest minimum (Sims, 2011). So in that case, is tax avoidance really legal or not? Aside that, how is tax avoidance carried knocked out(p)? What are the techniques and strong spots through which tax avoidance is carried out? In practice, what are the most dominant ways that are used by corporate entities to avoid taxes? 1.2 Aims and Objectives This research a ims at pioneer an enquiry into the concept of tax avoidance and an analysis of the techniques used and the main trends and activities that are used in carrying out tax avoidance. In doing this the following objectives give be explored 1. A critical recapitulation of the concept of tax avoidance and its relative position in the world of finance and business. 2. An examination of the main areas through which tax avoidance is carried out and the strategies used in carrying out tax avoidance. 3. Analysis of the voice of stakeholders shareholders, employees and the public in the struggle for tax avoidance 4. A critical view of a moralistic approach to dealing with tax avoidance in the UK. 1.3 Research Design The research would focus chiefly on a critical literature review for various levels of analyses. In arriving at this end, the research would involve a thorough examination of secondary sources like textual matterbooks, journals and cases to ascertain the actual position of tax avoidance in the world of business. The critical review of literature will include an examination of authoritative text in ascertaining the most popular trends and systems that are used in reducing taxes in the corporate sector. This will involve the examination of the key elements and aspects of corporate tax