The issue of multinational corporations such as Amazon, Google, and Starbucks employing secretive jurisdictions, royalties, and complex
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Question:
The issue of multinational corporations such as Amazon, Google, and Starbucks employing secretive jurisdictions, royalties, and complex company structures to avoid paying tax on British profits raises concerns about the fairness and effectiveness of current taxation systems. This practice not only undermines government revenues but also creates an uneven playing field for businesses that do contribute their fair share.
The fact that Amazon, Google and Starbucks could avoid the payment of taxes on their British profits by using secretive jurisdictions for royalty payments and complex structures raises many questions about ethics in tax practices. However, the current tax regulations and enforcement mechanisms are being hampered by this challenge in collecting revenue from host countries while also distorting competition among the business entities. Multinational corporations MNCs like Amazon, Google, and Starbucks are exploiting loopholes and complex structures to avoid paying their fair share of corporate taxes in the UK creating an uneven playing field for domestic businesses and eroding public trust in the fairness of the tax system.
The literature is very clear that international corporations use many loopholes in taxation regulations through complicated structures and also transactions Hines Reports from international organizations like the OECD and IMF emphasize the need for coordinated action and policy changes to address global tax avoidance eg OECD, Research identifies the requirement of major tax reforms to create an equal distribution and collection of taxes from big corporations Piketty Moreover, the significance of international collaboration and transparency in eliminating the tax evasion schemes is also stressed by scholars OECD Various academic studies Hines; Clausing, highlight the challenges associated with international taxation, emphasizing the need for global cooperation to address tax avoidance. Additionally, reports from organizations like the Organisation for Economic Cooperation and Development OECD provide insights into the impact of tax avoidance on national economies and suggest policy recommendations to mitigate these issues.
Objectives
To assess the extent to which multinational corporations exploit legal loopholes and employ complex structures for tax avoidance.
To evaluate the impact of tax avoidance by multinational corporations on national economies, government revenues, and fair competition within the business sector.
To propose legislative and regulatory measures aimed at closing existing loopholes and promoting transparency in corporate taxation.
Research Questions
What is the extent to which multinationals corporations exploit legal loopholes and employ complex structures for tax avoidance?
What is the impact of tax avoidance by multinational corporations on national economies, government revenues, and fair competition within the business sector?
What legislative and regulatory measures that can be implemented to close existing loopholes and promoting transparency in corporate taxation?
QUESTION
With reference to a minimum of AT LEAST FIVE sources, embark on a literature relevant to the description you provided in the problem statement and objectives given.
QUESTION
Based on problem statement given and the objectives set, explain in full, the methodological steps that you would implement to investigate the situation that you have highlighted. Remember to justify your response.
QUESTION
For data collection, highlight AT LEAST FIVE important issues that you would consider, in order to ensure that you do not violate the participants in any way consider the nature of the problem that have been highlighted, and the characteristics of the subjects.
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
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