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Law: You must not do A. You may do b-zB-Z. You: I'm doing a. Law doesn't say I can't. Just a, not A. I don't see an issue with a fine. "Creative accounting" i
by MAGZine 11y ago
Law: You must not do A. You may do b-zB-Z.
You: I'm doing a. Law doesn't say I can't. Just a, not A.
I don't see an issue with a fine. "Creative accounting" is a nice title for "finding loopholes." Loopholes, by their very nature, are UNINTENTIONAL gaps in the law.
Politicans draft the law. Tax firms merely collect on it. So you're asking politicians to foresee all possible loopholes. You might as well as a programmer to write bug-free software, except the programmer doesn't have any say or get to ask any questions about the implementation.
- clort 11y ago> Loopholes, by their very nature, are UNINTENTIONAL gaps in the law. Cynical me says "Unintentional? I don't think so.." I have read that in the UK it has been fairly common for people to work for the HMRC for a couple of years on secondment from large tax companies. They help make the laws, and then they go away and help the tax avoiders. http://www.theguardian.com/business/2013/apr/26/accountancy-firms-knowledge-treasury-avoid-tax http://www.theguardian.com/business/2013/apr/26/accountancy-...