The language, or rather political language de jour, is for the canvassing potential members of the next parliament (Parliamentary candidates in the UK) to merge two very different concepts into one, in the public’s mind. Those words are tax evasion and tax avoidance. We (at the theMarketSoul) believe we potentially know why, but the consequences might not yet be clearly understood.
At a recent televised debate attended by potential next Business Secretary representatives (politicians who would be in charge of the Business, Innovation and Skills [BIS] department) from the three major political parties, one of the candidates challenged the audience thus:
“You (tax advisers) know the difference between aggressive tax avoidance on the the one hand and tax planning on the other.” No the question was actually this: “Please raise your hand in the audience if you do not know what aggressive tax avoidance is.” From the podium the verdict came that about half the audience raised their hands. And therein lies the problem: Are you making this a moral question now? Because until someone is able to clearly define and explain how morality and tax planning are linked; we at theMarketSoul cannot help but think: Where next in this one sided ‘supposed’ quasi debate?
It really depends on how you ask the question:
Is taxation moral? Is paying tax moral? What level of taxation is moral? Is being moral, paying your taxes? If you don’t pay taxes, are you immoral?
Hopefully, you get our drift…?