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The need for an ethical tax framework

24th May 2013
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AIA chief executive Philip Turnbull's latest blog entry

Last night I had the pleasure of attending the LexisNexis Taxation Awards in London, an event first held in 2001 which has since grown into a major annual event acknowledging excellence within the UK tax industry.

It seems that in recent months you can't open a newspaper, website, or tune into TV news without being confronted with headlines concerning taxation and multinational companies' tax affairs. Reading or watching these news reports leaves you in little doubt about one thing - it's certainly a topic that divides opinion!

With this in mind, we thought that this would be an ideal topic to focus on as the theme for the 2013 AIA Founders' Lecture and Awards. The AIA's flagship event, held annually at a prestigious venue in London, will this year be held on 3 October 2013 and will be entitled "the Ethics of Global Tax Planning".

During their appearances in front of the Public Accounts Committee and in statements issued in the past few months, the likes of Google, Amazon, and Starbucks have repeatedly denied any wrong-doing when it comes to the amount of tax that they pay, but many others have slammed them for not paying their fair share. Ed Miliband said earlier this week that Google go "to extraordinary lengths to avoid paying its taxes", and a whistleblower who previously worked for the search engine giant labelled their tax avoidance scheme as "immoral".

While Google responded to these remarks by stating that they follow the tax laws of the countries that they are operating in, they also stressed that it's up to governments to review the rules, with executive chairman Eric Schmidt saying: "If the law changes, we will absolutely follow it".

This line is echoed by many other multinationals facing the same accusations, yet due to the very nature of western corporate business, that of attempting to maximise profit for shareholders, none of them are likely to change their tax planning unless forced to do so by a review of the existing framework. However, any review to the current structure must be made at an international level, with David Cameron saying: "You can't do it alone".

Any review will also need to not only review the legal framework of tax, but also the ethical and cultural aspect.

This is without doubt a complex discussion - with many differing opinions and points of view – which should ensure that the 2013 Founders' Lecture & Awards will be a topical and lively affair.

We will be announcing further information about the 2013 event, and revealing our two high-profile keynote speakers, in the coming weeks.

Booking are also now being taken for the 2013 AIA Taxation & Tax Planning conferences, with speakers from HMRC, Crowe Clark Whitehill (AIA Accountancy Firm of the Year 2012), Tim Buss and Tim Keeley.

Finally, congratulation to all of the winners from the LexisNexis Taxation Awards:

Big Four Team
Deloitte Olympic & Paralympic Tax Team

High Net-Worth Team
Deloitte

In-House Tax Team
Omnicom

International Tax Team
Milestone International Tax Partners

Rising Star
Rebecca Murray, Temple Tax

Single Office Tax Practice
A C Mole & Son

Tax Consultancy Firm
Innovation Professional Services

Tax Investigations
Ernst & Young

Tax Practice in a Regional Firm
Bishop Fleming

Tax Team in a Law Firm
RPC

Tax Team in a National Firm
Grant Thornton Financial Services Tax Team

Tax Writer
Keith Gordon, Atlas Tax Chambers

Technological Innovation
KPMG's Accounting & Tax Technology Services

VAT Team
Centurion VAT Specialists

Tax Personality of the Year
Graham Aaronson QC

Lifetime Achievement Award
Robert Maas

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