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Tax risk management and the application of ethics by large Australian companies

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Published on 01 Dec 17 by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE

This article reviews tax risk management practices of large Australian companies to ascertain whether ethical considerations are presently, and if not, should be, an element of those practices. An ethical framework, reflecting an agreed ethical philosophy, does not appear to be applied by large Australian companies in setting a standard for consideration and deliberation on acceptable tax risk. This research considers whether a “socially responsible” company would be expected to embed an ethical framework in its tax risk management system, possibly one which would require tax decisions that comply with the “spirit of the tax law” rather than the “letter of the tax law”. It is proposed that a focus on compliance with the “spirit of the tax law” by large companies in making decisions about acceptable tax risk would discourage aggressive tax decision-making and demonstrate a low tax risk appetite.

Author profiles

Catriona Lavermicocca
Catriona is an Associate Professor, Department of Accounting and Corporate Governance, Macquarie University, Australia. - Current at 28 February 2018
Click here to expand/collapse more articles by Catriona LAVERMICOCCA.
Michael Quilter
Michael is a Senior Lecturer, Department of Accounting and Corporate Governance, Macquarie University, Australia.
Current as at 28 February 2018

 

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