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Paying a fair share of tax and aggressive tax planning - A tale of two myths

eJournal of tax research, 2014-11, Vol.12 (2), p.410 [Peer Reviewed Journal]

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Title:
Paying a fair share of tax and aggressive tax planning - A tale of two myths
Author: Datt, Kalmen Hyman
Subjects: Corporate profits ; Directors ; Dividends ; Duty of care ; Fines & penalties ; Liability ; Mythology ; Profitability ; Social responsibility ; Stockholders ; Studies ; Tax increases ; Tax planning ; Tax rates ; Taxation
Is Part Of: eJournal of tax research, 2014-11, Vol.12 (2), p.410
Description: This article critically evaluates calls by the Australian Taxation Office (ATO) for directors of corporations to ensure companies pay a 'fair share of tax' or act as a 'good corporate citizen' or not embark on 'aggressive tax planning' schemes. The author concludes the first two terms mean whatever the speaker wishes them to mean and introduce an emotive and subjective element into the determination of a company's tax liability. Although tax regulators have attempted to define what is meant by 'aggressive tax planning' this too suffers from the above criticisms. This latter phrase does not tell the reader/listener how to identify 'aggressive tax planning'. Either a scheme can be successfully challenged by the regulator or it cannot. If the latter, irrespective of the descriptors used, it is legal and unobjectionable. The author suggests the Commissioner should refrain from using these terms.
Publisher: Sydney: University of New South Wales
Language: English
Identifier: ISSN: 1448-2398
Source: Free E Journals
ProQuest Central

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