• Register
Return to: Home > News > Tax > Accountants shouldn’t exploit tax regulation loopholes, Accountancy Europe opines

Accountants shouldn’t exploit tax regulation loopholes, Accountancy Europe opines

Accountants shouldn’t devise and promote tax planning structures or arrangements that are designed to achieve a different result than what is clearly intended by the legislators, according to a position paper released by Accountancy Europe.

Accountancy Europe’s position paper went further to say that accountants shouldn’t devise and promote tax planning structures that are wholly artificial and wholly contrived and which seek to exploit loopholes, mismatches between different legislation or different treatment of structures or items in different countries.

The position paper also stated that accountants should provide advice that is client specific based on the client’s commercial and economic realities rather than promoting pre-packaged tax avoidance schemes.

“Accountants must terminate any client relationship with clients who decide not to disclose the relevant facts (as defined at a national level) to the tax authority,” the position paper read.

Accountancy Europe’s position paper seek to clarify the organisation’s position on the role of professional accountants in advising tax payers and tax authorities, the principles for accountants to comply with when providing tax advice and the impact of technology on the future of tax.

The paper is accessible here

               

Top Content

    Nigeria: building compliance and engagement

    Opportunities created by regulatory and legislative changes in Nigeria are tempered by the fragile state of the economy, although practitioners are generally confident that conditions will improve over the next few years if appropriate steps are taken. Paul Golden reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.