Present arguments for and against tax planning and tax avoidance

Present arguments for and against tax planning and tax avoidance

AY2014-2015
TAXATION Assignment
AC50001E
Learning outcomes 2 and 3 (details in module study guide) are assessed
in this assignment.

Assignment
Tax planning involves taking steps which minimise the tax liability of tax payers. Use of off-shore
locations has been a vital element of this planning. This issue was discussed in a recent OECD report
titled ‘A Step Change in Tax Transparency which was presented to the G8 meeting in June 2013.
In the context of tax planning and tax avoidance you are required to answer the following questions:
1)  Present arguments for and against tax planning and tax avoidance.      30 marks
Proposed maximum word count 650 words.
2)  Summarise the recently launched (last 3 years) important initiatives at the national and
international level to deal with tax avoidance using cross-border facilities and differing tax
regimes.                                                                                                                 30 marks
Proposed maximum word count 700 words
3)   “Let there be one international tax framework like the International Financial Reporting
Standards and there will be no tax avoidance issues”. Discuss this statement.  30 marks
Proposed maximum word count 650 words
Presentation and format              10 marks

Total Marks 100
Maximum word count 2000 words

Instructions
1.  Please write each question before answering it.
2.  Each question should start on a new page.
3.  Include all your references at the end of the assignment.
4.  There is no requirement for an introduction or contents page.
5.  Use Harvard (author-date) style referencing.
6.  References and questions’ word count is excluded from total 2000 word count.

 

Marking Guide AC50001E
AY2014-2015
Assignment
Question 1
Present arguments both for and against tax planning and tax avoidance.
We  have  been  asked  if  tax  planning  and  tax  avoidance  are  two  different  things.  HMRC    likes    to  think
that they are and they are quite accepting of tax planning but warn that tax avoidance is not acceptable.
In actual practice it is not obvious where tax planning ends and tax avoidance begins. The question does
not  ask  you  to  make  a  distinction  between  the  two  and  there  is  no  need  to  separate  the  two  for  the
purpose of this assignment. However, you can discuss it in one of your arguments.
Marks in this question will be awarded for the strength and clarity of the arguments. You can paraphrase
the  arguments  presented  by  other  people  but  the  answer  should  be  logical  and  coherent.  It  is
recommended  that  each  argument  is  presented  separately  and  avoid  repetitiveness.      We  expect  you
present a maximum of six arguments in total.
Proposed maximum word count 650 words.
Question No 2
Summarise  the  recently  launched  (last  3  years)  important  initiatives  at  the  national  and  international
level to deal with tax avoidance using cross-border facilities and differing tax regimes.
The focus of your answer should be on national and international initiatives which have received some
press  coverage.  We  expect  you to  discuss  three  such initiatives.  Discussion of  each initiative  should  be
arranged under a suitable sub-title and focus on how it may help curb tax avoidance using cross border
facilities.
Proposed maximum word count 700 words.

Question No 3
“Let there be one international tax framework like the International Financial Reporting Standards and
there will be no tax avoidance issues”. Discuss this statement.
We expect you to discuss if such a framework is possible or not possible and  present arguments both
for  and  against this  proposal and  also Please  limit yourself  to  presenting  four arguments  in total  along
with a brief discussion of the possibility of all countries agreeing on such a framework.
Please limit yourself to presenting four arguments in total along with a brief discussion of the possibility
of all countries agreeing on such a framework.
Proposed maximum word count 650 words

 

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