Topic > ethics - 1969

Suppose someone tells you tomorrow; “I know a totally legal way that could save you a couple thousand dollars on your taxes next year.” Would you be interested? After all, who likes paying taxes? We hear all the time about different ways to reduce taxes. Do you have a child? You may qualify for credit. Go to school and pay interest on the loan? You may qualify for credit. Do you have a business or rental property? You may write off some expenses and offset some of your income with losses. Tax avoidance (not to be confused with tax evasion) is not only acceptable, but is often considered a smart business decision and an essential tactic in today's personal and business financial environment. Consider now that you are part of the management of a huge multinational corporation (we'll call it Z Corp), such as Apple or GE Tax planning and tax avoidance would be just one of many tools in your toolbox when it comes to your strategic responsibilities for the organization. You are also responsible for budgets, financial statements, contracts, investments, and many, many other financial aspects of the organization. Realistically, if you worked for such a large corporation, you would hire tax experts (or employ a dedicated internal tax department) tasked with evaluating revenue, expenses, corporate structure, and the state, national, and international tax laws under which the company operates. work. As an executive, perhaps on any given day your tax advisor approaches you and asks you the same question as the one in my opening paragraph. The offering (which would be tailored to the relative size of an international company's tax burden) could be; “I know a totally legal way that could save the company billions a year on… half the paper… number of people. You also believe that society as “autonomous” is entitled to its own interest as long as it remains within the confines of the law. Finally, recognize that tax avoidance strategies are now widely regarded as smart business decisions and are overwhelmingly supported by individuals and corporations. In the case of extreme examples (such as those of Apple and GE), it could also easily be interpreted and perceived as corporate greed. Z-Corp management realizes, however, that “in the business world, we are faced not only with questions of right and wrong, but between right and right. We have all experienced situations where our professional responsibilities unexpectedly conflict with our deepest values… we are caught in a conflict between right and right. And no matter which option we choose, we feel like we have failed."