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They're certainly not obligated to reduce tax expenditures. This is the commonly repeated falsehood that the fiduciary duty of a company to its shareholders obl
by telchar 8y ago
They're certainly not obligated to reduce tax expenditures. This is the commonly repeated falsehood that the fiduciary duty of a company to its shareholders obligates them to do anything and everything within the law to maximize profit - but that's incorrect. The fiduciary duty is much broader and can be respected while not blindly maximizing profit.
- manigandham 8y agoSure best interests can cover a lot. However, using a well-known tax strategy that has its own name, is completely legal, has no risk, and can save billions for a multinational company worth over half a trillion is a sound business decision. Not doing so would definitely be against the interests of the company.