Tuesday, November 13, 2012

~ Drink no evil coffee ~

Am not trying to scare you with the *words* of evil &  coffee. The phrase is related to the current scrutiny of the World's µost reputed companies by the MPs in the UK, for tax avoidance.

The companies that are currently in the eye-of-storm are - Amazon, Google & Starbucks. 

Google, specifically, has this philosophy of making money without being evil. Guess that rule from their Corporate Code of Conduct is limited to how they use technology and not for their conduct of running a business nor accounting practise - finding loopholes in the system to avoid paying of taxes.

Am sure this is not the first time such a thing has occurred anywhere in the world. The audit & accounting firms around the globe always know the Tax rules/laws in the operating countries to help the Companies avoid paying high taxes. Have always wondered if the Tax laws are drafted with loop holes such that the CAs can come up with various methods of evading or avoiding taxation.

"And remember… don’t be evil, and if you see something that you think isn’t right – speak up!"

Conclusion on Google's Code-of-Conduct for you :)

Don't forget the concept of tax avoidance is way too common in Indian Businesses. The current Indian Govt itself is tainted with corruption & various scams - CWG, 2G, Coal, etc. Not to forget the recent acquisitions from the IAC that Government is colluded with the Corporate Bigwigs. So can't expect them to take on companies.

More news: BBC | Guardian | Reuters | WSJ | DailyMail (Image source)

1 comment:

Sandeep said...

World's µost.. Does "µost" means most?