1) Ethics in tax administration is important as it impacts the relationship between taxpayers and tax authorities. Taxpayers are more likely to comply when they trust that tax authorities are acting ethically.
2) There are debates around what constitutes acceptable tax planning versus unacceptable tax avoidance or evasion. While exploiting legal loopholes may be technically legitimate, it can violate the spirit of tax laws.
3) Ensuring ethical conduct requires measures like codes of conduct, enforcement of penalties, and simplifying tax systems. It also requires coordinating with professional organizations to establish standards for tax advisors.
Joseph Sheffu - Ethics and Governance for Professionals.pptxJoeSheffu
This document summarizes a presentation on ethics and governance for professional accountants. It discusses the role of accountants in society and their obligations to serve the public interest. It outlines frameworks for ethics and corporate governance, including key principles like balancing performance and compliance. It also provides examples of ethical dilemmas accountants may face and enhances to the conceptual framework for addressing threats. The conclusion emphasizes the importance of accountants understanding their role in upholding good governance and ethics.
An effective compliance program has several key components: conducting a legal risk assessment to identify areas of focus, ensuring the program meets regulatory guidelines, tailoring the program to a company's unique operations, establishing standards and procedures to minimize risks and demonstrate commitment to ethical conduct, and providing training, monitoring, reporting, and investigations to foster a pro-compliance culture. An effective program is process-oriented, integrated into daily operations, and subject to continuous improvement.
The Real Deal Webinar Series: Practical Advice from a Former Chief Compliance...Winston & Strawn LLP
The presentation included a discussion of practical steps in-house lawyers can take to build, grow, and measure their corporate compliance program, and why such programs are important for companies, especially those preparing for a sale.
This interactive webinar will give you a live, guided demo of ELT’s online Ethics & Code of Conduct training program, discuss the laws that mandate training, and provide a practical overview of best training practices.
Online ethics training programs have become critical to many organization’s compliance and risk management strategies. Legal mandates over the past decade have significantly reduced fines and penalties for organizations that train employees on their Code. The regulatory environment continues intensify, demanding increased accountability and transparency from employers.
More than ever, organizations have a strong incentive to build both an ethical culture and effective compliance programs – to reduce risk, to avoid litigation, to build defenses and to create tangible value. Enterprise-wide employee education is central to this effort.
This document summarizes a corporate governance seminar on tax risk management policies. The seminar will cover why boards need a tax risk management policy, the top three reasons for having one, and international developments in countries like Australia, the UK, and OECD related to tax transparency and risk reporting. It will also discuss New Zealand's tax authority position, the top five tips for an effective tax risk management policy, how to test a policy's effectiveness, and take questions. Contact information is provided for the two partners presenting from MinterEllison.
MACPA works to keep it's members "future ready" and to be able to thrive in this rapidly changing and complex world. This update given every six months in interactive "town hall" meetings covers the latest developments in four major areas: 1) Lookout post - the latest trends and issues facing business and the Profession; 2) Laws, regulations and standards; 3) What MACPA is doing about these issues as a membership organization; and 4) How to keep their L>C, rate of learning greater than the rate of change, or to help CPAs find their competitive edge.
The current batches of trends revives around the "shift change".
The document discusses the transformation of the Irish Revenue Commissioners through a major restructuring process in the late 1990s and early 2000s to create a more customer-focused and technology-enabled tax administration organization. It overhauled the organization's structure, processes, and systems to provide a unified view of taxpayers and improve customer service, while also increasing tax compliance through the use of new technologies. The changes helped Revenue transition to being a more modern and efficient public body.
Joseph Sheffu - Ethics and Governance for Professionals.pptxJoeSheffu
This document summarizes a presentation on ethics and governance for professional accountants. It discusses the role of accountants in society and their obligations to serve the public interest. It outlines frameworks for ethics and corporate governance, including key principles like balancing performance and compliance. It also provides examples of ethical dilemmas accountants may face and enhances to the conceptual framework for addressing threats. The conclusion emphasizes the importance of accountants understanding their role in upholding good governance and ethics.
An effective compliance program has several key components: conducting a legal risk assessment to identify areas of focus, ensuring the program meets regulatory guidelines, tailoring the program to a company's unique operations, establishing standards and procedures to minimize risks and demonstrate commitment to ethical conduct, and providing training, monitoring, reporting, and investigations to foster a pro-compliance culture. An effective program is process-oriented, integrated into daily operations, and subject to continuous improvement.
The Real Deal Webinar Series: Practical Advice from a Former Chief Compliance...Winston & Strawn LLP
The presentation included a discussion of practical steps in-house lawyers can take to build, grow, and measure their corporate compliance program, and why such programs are important for companies, especially those preparing for a sale.
This interactive webinar will give you a live, guided demo of ELT’s online Ethics & Code of Conduct training program, discuss the laws that mandate training, and provide a practical overview of best training practices.
Online ethics training programs have become critical to many organization’s compliance and risk management strategies. Legal mandates over the past decade have significantly reduced fines and penalties for organizations that train employees on their Code. The regulatory environment continues intensify, demanding increased accountability and transparency from employers.
More than ever, organizations have a strong incentive to build both an ethical culture and effective compliance programs – to reduce risk, to avoid litigation, to build defenses and to create tangible value. Enterprise-wide employee education is central to this effort.
This document summarizes a corporate governance seminar on tax risk management policies. The seminar will cover why boards need a tax risk management policy, the top three reasons for having one, and international developments in countries like Australia, the UK, and OECD related to tax transparency and risk reporting. It will also discuss New Zealand's tax authority position, the top five tips for an effective tax risk management policy, how to test a policy's effectiveness, and take questions. Contact information is provided for the two partners presenting from MinterEllison.
MACPA works to keep it's members "future ready" and to be able to thrive in this rapidly changing and complex world. This update given every six months in interactive "town hall" meetings covers the latest developments in four major areas: 1) Lookout post - the latest trends and issues facing business and the Profession; 2) Laws, regulations and standards; 3) What MACPA is doing about these issues as a membership organization; and 4) How to keep their L>C, rate of learning greater than the rate of change, or to help CPAs find their competitive edge.
The current batches of trends revives around the "shift change".
The document discusses the transformation of the Irish Revenue Commissioners through a major restructuring process in the late 1990s and early 2000s to create a more customer-focused and technology-enabled tax administration organization. It overhauled the organization's structure, processes, and systems to provide a unified view of taxpayers and improve customer service, while also increasing tax compliance through the use of new technologies. The changes helped Revenue transition to being a more modern and efficient public body.
The document discusses corporate governance in both the public and private sectors. It defines governance as concerning appropriate board structures, processes, and values that drive an organization to achieve its purpose while maintaining prudent control. Key elements of governance in the public sector, especially the NHS, include standing orders, standing financial instructions, codes of conduct, clinical governance, risk management, fraud prevention, and the role of the audit committee in providing oversight. The document emphasizes that good governance is needed in both sectors to ensure accountability, probity, and transparency.
This document summarizes Yariv Brauner's analysis of some transfer pricing aspects of the OECD's Base Erosion and Profit Shifting (BEPS) initiative. Brauner notes that BEPS was a response to media exposure of multinational enterprises not paying enough tax. However, he is skeptical that the OECD-led process can adequately address the political and technical challenges involved in reforming international tax rules. In particular, Brauner argues that the BEPS action items do not fully address issues around transferring intangibles and risks among related parties or the need to move beyond an arm's length standard in some cases. He concludes that the BEPS project lacks accountability, disregards new issues
The document summarizes key points from the first chapter of the textbook "Ethics in Information Technology". It discusses the importance of ethics in business and outlines several approaches that organizations take to foster ethical practices, including appointing an ethics officer, establishing a code of ethics, conducting ethics training, and including ethics in decision-making processes. It also overviews common approaches to ethical decision-making such as the virtue ethics, utilitarian, fairness, and common good approaches.
The OECD works to improve regulatory policy and governance through its regulatory policy division. Regulatory policy seeks to change how governments design and deliver regulation to improve outcomes. It focuses on improving regulatory processes upstream in government as well as downstream and outside of government. The OECD's recommendations include having a strategic regulatory policy, oversight bodies, impact assessments, reducing administrative burdens on business, and international cooperation on regulatory issues. Effective regulatory policy requires coordination between different levels of government.
Evaluating Impacts of Regulatory ReformsDaniel Trnka
A brief description of some quantitative and qualitative methods to assess impacts of adminsitrative simplification efforts, such as the Standard Cost Model and perception surveys
This document discusses corporate governance for community organizations. It defines corporate governance and outlines the key aspects such as legal requirements, financial management, risk management, and the roles and responsibilities of the treasurer. The presentation recommends developing policies and procedures for budgeting, financial reporting, expenditures, fundraising, and auditing to ensure sound governance. It emphasizes the importance of seeking help, networking with others, and continuing to learn about best practices in corporate governance.
Chapter C.1 - UN TP Manual: Legal Environment for Establishing TP RegimesDVSResearchFoundatio
This document summarizes key aspects of updating transfer pricing regimes based on Chapter C.1 of the UN TP Manual. It discusses the general legal environment for transfer pricing, including an overview of extant TP rules in countries and specific domestic TP rules. Regarding updates, it emphasizes the importance of gathering information through regional cooperation, engagement with international organizations, and participation in capacity building initiatives to regularly evaluate and improve domestic TP legislation.
The document discusses regulatory impact assessments (RIA) and the costs of red tape in South Africa. It provides examples of SBP's work conducting regulatory compliance cost studies and best practice assessments in multiple countries. RIA is presented as a tool to evaluate the need for government intervention and identify unintended consequences of regulatory proposals. The benefits of RIA include more efficient, evidence-based decision making and reduced costs. Key aspects like oversight, consultation and transparency are compared for RIA processes in various countries. The document concludes with lessons learned around implementing RIA and the aim of cutting unnecessary regulatory costs while maximizing benefits.
The role of internal auditors is evolving with modern corporate governance. Boards are responsible for overseeing internal control systems, and internal audit assists by evaluating controls and risk management. For internal audit to be effective, it must be strategically positioned, have a structure that ensures objectivity, and be properly funded. Internal audit also needs clear reporting lines to the board or audit committee. Data analytics is transforming audit engagements by enabling auditors to discover patterns in large datasets and enhancing audit quality and effectiveness.
This seminar focused on the health and care sector. Including a topical update on four key areas:-
- charity governance
- employment - whistle-blowing, safeguarding, sleep-ins
- regulatory - when the inspector calls, CQC/H&S/controlled medicines
- commissioning - contracts and GDPR.
For further information and training visit our website - https://www.brownejacobson.com/health
An effective records and information management system can help control e-discovery costs by reducing unnecessary data and easing the collection and review process. Key aspects of a successful RIM program include senior management buy-in, developing a data map and retention policies, implementing classification and retention tools, educating employees, and retiring legacy data through a defensible process. Sound RIM practices can decrease risk and costs by simplifying legal holds, retrieval of critical information, and demonstrating compliance with retention requirements.
Presentation by Rachel Holloway, Department for Business, Energy, & Industrial Strategy, United Kingdom, at the RIA workshop which took place in Lima on 22-24 May 2017. Further information is available at www.oecd.org/gov/regulatory-policy/.
The document summarizes a seminar for health and social care charities that covered various topics including charity governance, employment issues like whistleblowing and safeguarding, and regulatory matters. On charity governance, it discussed the Charity Governance Code and principles of good decision making and board effectiveness. On employment, it covered protecting whistleblowers, handling safeguarding issues and investigations, and ongoing legal uncertainties around paying workers for sleep-in shifts. The regulatory session discussed increased enforcement by the CQC including larger fines and prosecutions, new inspection frameworks and areas of focus, and requirements for registration.
The document discusses concepts related to corporate governance and codes of ethics for accountants. It provides an overview of key concepts including definitions of corporate governance from various sources like the OECD and Cadbury Report. It also discusses the International Federation of Accountants (IFAC) code of ethics including fundamental principles like integrity, objectivity, competence. The code addresses threats like self-interest, intimidation and safeguards for accountants in business and public practice.
Digi biz master_class_presentation_15052014hayleyfeduni
This document outlines the key points from a workshop on good governance presented by Mark Schultz. The learning outcomes include increasing awareness of how broadband can benefit organizations, identifying success factors and barriers to good governance, and determining improvements. The workshop discusses how broadband benefits productivity and competitiveness. It also covers governance principles, the roles and responsibilities of nonprofit boards, risk management, performance management, and what makes an effective board. Attendees are encouraged to join digital initiatives and access online resources to help organizations adopt new technologies.
Executive summary Managing indirect tax controversy
- Indirect taxes like VAT, GST and customs duties have risen in importance for businesses and are a growing focus for tax authorities.
- Businesses face increased scrutiny of indirect tax compliance from authorities, media and the public. Errors can lead to large tax assessments and damage reputations.
- Managing indirect tax controversy effectively, including dealing with audits and disputes, requires a strategic, integrated approach across the business. It is important for businesses to avoid issues becoming subjects of tax disputes.
Riskpro legal and compliance audits 2013Nidhi Gupta
Riskpro is an Indian organization that provides risk management consulting services through offices in major cities. It aims to be the preferred provider of governance, risk, and compliance solutions to mid-large sized Indian companies. Riskpro offers quality advisory services at affordable rates using a hybrid delivery model. It focuses on risk management and has over 200 years of cumulative experience. Riskpro provides a wide range of risk management and advisory services including Basel compliance, corporate risks, IT risks, operational risks, governance services, and legal risks.
Riskpro legal and compliance audits 2013Nidhi Gupta
Riskpro is an Indian risk management firm with offices in three major cities. It provides integrated risk management consulting services to mid-large sized corporates and financial institutions. Riskpro's services include governance, risk and compliance solutions, legal and compliance audits, risk advisory services, training, and recruitment. It has over 200 years of cumulative experience across its multi-skilled team. Riskpro aims to provide quality advisory services at affordable rates using a hybrid delivery model.
The document summarizes issues with Australia's current insolvency system based on statistics that show most insolvent entities have few assets and low expected returns for creditors. It notes that while liquidators are often expected to return 11 cents on the dollar, over 85% of companies have less than $100,000 in assets, so administrative costs can exceed returns. Alternative regulatory models are discussed, as well as challenges for insolvency practitioners and questions around why Australia did not establish an official receiver role like some other countries.
1. Relative valuation compares the value of an asset to similar assets using standardized valuation multiples like price-to-earnings or enterprise value-to-EBITDA ratios. It requires identifying comparable assets, standardizing their market values, and comparing the multiples.
2. The document discusses how relative valuation is commonly used on Wall Street and in M&A transactions. It also notes that discounted cash flow valuations often rely on relative multiples for terminal values.
3. The document provides an overview of common valuation multiples, how to define, describe, analyze, and apply them properly in relative valuations.
The document discusses corporate governance in both the public and private sectors. It defines governance as concerning appropriate board structures, processes, and values that drive an organization to achieve its purpose while maintaining prudent control. Key elements of governance in the public sector, especially the NHS, include standing orders, standing financial instructions, codes of conduct, clinical governance, risk management, fraud prevention, and the role of the audit committee in providing oversight. The document emphasizes that good governance is needed in both sectors to ensure accountability, probity, and transparency.
This document summarizes Yariv Brauner's analysis of some transfer pricing aspects of the OECD's Base Erosion and Profit Shifting (BEPS) initiative. Brauner notes that BEPS was a response to media exposure of multinational enterprises not paying enough tax. However, he is skeptical that the OECD-led process can adequately address the political and technical challenges involved in reforming international tax rules. In particular, Brauner argues that the BEPS action items do not fully address issues around transferring intangibles and risks among related parties or the need to move beyond an arm's length standard in some cases. He concludes that the BEPS project lacks accountability, disregards new issues
The document summarizes key points from the first chapter of the textbook "Ethics in Information Technology". It discusses the importance of ethics in business and outlines several approaches that organizations take to foster ethical practices, including appointing an ethics officer, establishing a code of ethics, conducting ethics training, and including ethics in decision-making processes. It also overviews common approaches to ethical decision-making such as the virtue ethics, utilitarian, fairness, and common good approaches.
The OECD works to improve regulatory policy and governance through its regulatory policy division. Regulatory policy seeks to change how governments design and deliver regulation to improve outcomes. It focuses on improving regulatory processes upstream in government as well as downstream and outside of government. The OECD's recommendations include having a strategic regulatory policy, oversight bodies, impact assessments, reducing administrative burdens on business, and international cooperation on regulatory issues. Effective regulatory policy requires coordination between different levels of government.
Evaluating Impacts of Regulatory ReformsDaniel Trnka
A brief description of some quantitative and qualitative methods to assess impacts of adminsitrative simplification efforts, such as the Standard Cost Model and perception surveys
This document discusses corporate governance for community organizations. It defines corporate governance and outlines the key aspects such as legal requirements, financial management, risk management, and the roles and responsibilities of the treasurer. The presentation recommends developing policies and procedures for budgeting, financial reporting, expenditures, fundraising, and auditing to ensure sound governance. It emphasizes the importance of seeking help, networking with others, and continuing to learn about best practices in corporate governance.
Chapter C.1 - UN TP Manual: Legal Environment for Establishing TP RegimesDVSResearchFoundatio
This document summarizes key aspects of updating transfer pricing regimes based on Chapter C.1 of the UN TP Manual. It discusses the general legal environment for transfer pricing, including an overview of extant TP rules in countries and specific domestic TP rules. Regarding updates, it emphasizes the importance of gathering information through regional cooperation, engagement with international organizations, and participation in capacity building initiatives to regularly evaluate and improve domestic TP legislation.
The document discusses regulatory impact assessments (RIA) and the costs of red tape in South Africa. It provides examples of SBP's work conducting regulatory compliance cost studies and best practice assessments in multiple countries. RIA is presented as a tool to evaluate the need for government intervention and identify unintended consequences of regulatory proposals. The benefits of RIA include more efficient, evidence-based decision making and reduced costs. Key aspects like oversight, consultation and transparency are compared for RIA processes in various countries. The document concludes with lessons learned around implementing RIA and the aim of cutting unnecessary regulatory costs while maximizing benefits.
The role of internal auditors is evolving with modern corporate governance. Boards are responsible for overseeing internal control systems, and internal audit assists by evaluating controls and risk management. For internal audit to be effective, it must be strategically positioned, have a structure that ensures objectivity, and be properly funded. Internal audit also needs clear reporting lines to the board or audit committee. Data analytics is transforming audit engagements by enabling auditors to discover patterns in large datasets and enhancing audit quality and effectiveness.
This seminar focused on the health and care sector. Including a topical update on four key areas:-
- charity governance
- employment - whistle-blowing, safeguarding, sleep-ins
- regulatory - when the inspector calls, CQC/H&S/controlled medicines
- commissioning - contracts and GDPR.
For further information and training visit our website - https://www.brownejacobson.com/health
An effective records and information management system can help control e-discovery costs by reducing unnecessary data and easing the collection and review process. Key aspects of a successful RIM program include senior management buy-in, developing a data map and retention policies, implementing classification and retention tools, educating employees, and retiring legacy data through a defensible process. Sound RIM practices can decrease risk and costs by simplifying legal holds, retrieval of critical information, and demonstrating compliance with retention requirements.
Presentation by Rachel Holloway, Department for Business, Energy, & Industrial Strategy, United Kingdom, at the RIA workshop which took place in Lima on 22-24 May 2017. Further information is available at www.oecd.org/gov/regulatory-policy/.
The document summarizes a seminar for health and social care charities that covered various topics including charity governance, employment issues like whistleblowing and safeguarding, and regulatory matters. On charity governance, it discussed the Charity Governance Code and principles of good decision making and board effectiveness. On employment, it covered protecting whistleblowers, handling safeguarding issues and investigations, and ongoing legal uncertainties around paying workers for sleep-in shifts. The regulatory session discussed increased enforcement by the CQC including larger fines and prosecutions, new inspection frameworks and areas of focus, and requirements for registration.
The document discusses concepts related to corporate governance and codes of ethics for accountants. It provides an overview of key concepts including definitions of corporate governance from various sources like the OECD and Cadbury Report. It also discusses the International Federation of Accountants (IFAC) code of ethics including fundamental principles like integrity, objectivity, competence. The code addresses threats like self-interest, intimidation and safeguards for accountants in business and public practice.
Digi biz master_class_presentation_15052014hayleyfeduni
This document outlines the key points from a workshop on good governance presented by Mark Schultz. The learning outcomes include increasing awareness of how broadband can benefit organizations, identifying success factors and barriers to good governance, and determining improvements. The workshop discusses how broadband benefits productivity and competitiveness. It also covers governance principles, the roles and responsibilities of nonprofit boards, risk management, performance management, and what makes an effective board. Attendees are encouraged to join digital initiatives and access online resources to help organizations adopt new technologies.
Executive summary Managing indirect tax controversy
- Indirect taxes like VAT, GST and customs duties have risen in importance for businesses and are a growing focus for tax authorities.
- Businesses face increased scrutiny of indirect tax compliance from authorities, media and the public. Errors can lead to large tax assessments and damage reputations.
- Managing indirect tax controversy effectively, including dealing with audits and disputes, requires a strategic, integrated approach across the business. It is important for businesses to avoid issues becoming subjects of tax disputes.
Riskpro legal and compliance audits 2013Nidhi Gupta
Riskpro is an Indian organization that provides risk management consulting services through offices in major cities. It aims to be the preferred provider of governance, risk, and compliance solutions to mid-large sized Indian companies. Riskpro offers quality advisory services at affordable rates using a hybrid delivery model. It focuses on risk management and has over 200 years of cumulative experience. Riskpro provides a wide range of risk management and advisory services including Basel compliance, corporate risks, IT risks, operational risks, governance services, and legal risks.
Riskpro legal and compliance audits 2013Nidhi Gupta
Riskpro is an Indian risk management firm with offices in three major cities. It provides integrated risk management consulting services to mid-large sized corporates and financial institutions. Riskpro's services include governance, risk and compliance solutions, legal and compliance audits, risk advisory services, training, and recruitment. It has over 200 years of cumulative experience across its multi-skilled team. Riskpro aims to provide quality advisory services at affordable rates using a hybrid delivery model.
The document summarizes issues with Australia's current insolvency system based on statistics that show most insolvent entities have few assets and low expected returns for creditors. It notes that while liquidators are often expected to return 11 cents on the dollar, over 85% of companies have less than $100,000 in assets, so administrative costs can exceed returns. Alternative regulatory models are discussed, as well as challenges for insolvency practitioners and questions around why Australia did not establish an official receiver role like some other countries.
1. Relative valuation compares the value of an asset to similar assets using standardized valuation multiples like price-to-earnings or enterprise value-to-EBITDA ratios. It requires identifying comparable assets, standardizing their market values, and comparing the multiples.
2. The document discusses how relative valuation is commonly used on Wall Street and in M&A transactions. It also notes that discounted cash flow valuations often rely on relative multiples for terminal values.
3. The document provides an overview of common valuation multiples, how to define, describe, analyze, and apply them properly in relative valuations.
The document discusses various topics related to corporate insolvency resolution under the Insolvency and Bankruptcy Code (IBC) 2016 in India. It provides an overview of the corporate insolvency resolution process (CIRP), including key stages such as admission of the application, moratorium declaration, appointment of interim/resolution professionals, constitution of the committee of creditors, submission and approval of resolution plans, and liquidation. It also discusses the impact of the IBC, definitions, timelines for completion, and effects of the moratorium order declared during CIRP.
1) The document discusses a case referred to the Central Administrative Tribunal's Full Bench regarding the seniority rules for officers of the Indian Revenue Service (Income Tax).
2) It discusses the relevant rules regarding the determination of seniority between direct recruits and promotees on a 1:1 ratio through a rota system.
3) The applicants have challenged the respondents' practice of treating a civil list as the seniority list and not issuing an actual seniority list in accordance with the rules.
The document provides a list of 34 members for the IRS (Mumbai) Housing Co-operative Housing Society. It includes information such as their name, employee code, housing option preferences for number of bedrooms, floor, parking, and contact details including address, email and phone numbers. The members are commissioners, directors and other employees of the Income Tax department located across India, with most residing in Mumbai.
This document provides details about a proposed housing complex project called IRS Tower-I located in Ulwe Node, Navi Mumbai. The project will be developed on plots 6, 7, and 8 and will consist of 3 wings (A, B, C). Wing A and B will be stilt + 10 stories with 80 flats total. Wing C will be stilt + 4 stories with 8 flats total. In total there will be 88 flats across the 3 wings, each flat being 1007 sqft with 3 bedrooms and 3 toilets. Amenities will include a gym, society office, meeting room, party terrace and more. Floor plans and layouts are provided. An MOU was signed between the developer and
This document provides an overview of anti-corruption agencies and vigilance procedures in the Central Government of India. It discusses the role and functions of the Central Vigilance Commission, the Chief Vigilance Officers, and the Central Bureau of Investigation in preventing and investigating corruption cases. It also covers topics like handling complaints, conducting preliminary inquiries and investigations, suspension procedures, and other vigilance processes. The document is a manual intended to serve as a reference guide for officers involved in anti-corruption work.
The minutes of the General Body Meeting of IRS (Mumbai) Housing Cooperative Society held on February 26, 2009 are summarized as follows:
1. The developer presented details of the housing project including building plans and amenities. Members approved construction in two locations and a 36% increase in built-up area over carpet area.
2. It was decided to call the second installment payment of Rs. 5.5 lakhs from members in two parts by March 15th and 27th.
3. The flat allotment procedure was discussed and it was agreed to be simple, scientific and transparent using members' choices and a lottery system.
4. Preparations were made for the ground breaking
The cashier was bored with no customers and decided to get creative. With some spare time on their hands, the cashier began folding dollar bills into intricate origami shapes just for fun. By the end of their shift, the cashier had transformed several bills into beautiful paper sculptures.
This presentation illustrates through the photographs chronicling the efforts of snail that if we adopt right attitude for doing things, everything is possible.
When we do not want to go to office as we do not enjoy going there, out emotions with in are best summarised in this presentation through photographs of kids
These unique bicycles have unusual designs that make them stand out from typical bikes. Some have extra wheels, strange frame shapes, or unusual attachments that provide entertainment or aid in tasks. Overall the modified bicycles show creativity in reimagining what a bike can be.
A son or daughter's perspective of their father changes dramatically over time, from seeing their father as all-knowing when young, to viewing them as outdated and unreasonable during the teenage years, to later gaining appreciation for all the hardships and sacrifices their father endured to raise them as they become parents themselves.
This document lists several potential holiday activities including visiting a new beach in Japan, seeing the Grand Canyon's new skywalk, going to a theme park in Las Vegas, watching a tennis match in Dubai, mountain climbing, or bicycling. It ends by wishing the reader happy holidays.
The document is a slideshow that features nighttime photographs of various cities and landscapes from around the world. By clicking, the viewer can add color to the black and white photos or advance to the next slide. The slideshow takes the viewer to places like Frankfurt, Bremerhaven, Hamburg, Sydney, Berlin, Budapest, Cologne, London, Prague, Dresden, Salzburg, Las Vegas, Venice, Mount Saint-Michel, Paris, Tokyo, Shanghai, Hong Kong, Kuala Lumpur, the Alps, Moscow, and features final slides of the Tower Bridge and signals the end.
The document discusses the rapid systemic changes that have occurred in the Indian Revenue Service (IRS) and the challenges faced in dealing with these changes. It outlines changes like self-assessment, computerization of processing, creation of unique identifiers, and e-filing of returns. Problems that arose include a decrease in scrutiny work, issues with new systems like OLTAS and TDS processing, and inadequate response to taxpayers. Future changes expected are full e-filing, centralized processing, and specialized assessment units. Key challenges for IRS are re-looking at cadres and work division, outsourcing non-core activities, recruitment focusing on specialized skills, ensuring new systems are stabilized before old ones are replaced, and developing robust management information
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
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Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
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Dive into this presentation and learn about the ways in which you can buy an engagement ring. This guide will help you choose the perfect engagement rings for women.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Garments ERP Software in Bangladesh _ Pridesys IT Ltd.pdfPridesys IT Ltd.
Pridesys Garments ERP is one of the leading ERP solution provider, especially for Garments industries which is integrated with
different modules that cover all the aspects of your Garments Business. This solution supports multi-currency and multi-location
based operations. It aims at keeping track of all the activities including receiving an order from buyer, costing of order, resource
planning, procurement of raw materials, production management, inventory management, import-export process, order
reconciliation process etc. It’s also integrated with other modules of Pridesys ERP including finance, accounts, HR, supply-chain etc.
With this automated solution you can easily track your business activities and entire operations of your garments manufacturing
proces
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
4 Benefits of Partnering with an OnlyFans Agency for Content Creators.pdfonlyfansmanagedau
In the competitive world of content creation, standing out and maximising revenue on platforms like OnlyFans can be challenging. This is where partnering with an OnlyFans agency can make a significant difference. Here are five key benefits for content creators considering this option:
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
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1. Ethics in Tax Administration
Advanced Mid-Career Training Programme for Commissioners of Income-tax
At IBFD, Amsterdam, the Netherlands
21st July, 2015
Group 1
Sandip Garg
Anshu Shukla Pandey
Sunil Kumar
Dinesh Sawkmie
N. Jayasankar
2. ethics: definition and drivers
• A standard of behavior that instructs human beings on their
action in different situations
– Impacts transactions and relationships between the individual and the
society at large including organizations
• Commonly mistaken for:
– Law –can guide or impose ethical action, but may not always be ‘ethical’
(e.g. apartheid, euthanasia)
– Culturally accepted norms – Some practices are not ethical (e.g. honour
killings, slavery, caste system).
• NB: Some have evolved into ethical standards and law
• What drives ethics?
Personal sense of right/wrong (intuitive)
Information, knowledge and
wisdom (or lack of these) -
cognitive Perceptions of rewards and threats – system-generated
Will – discipline and energy towards a higher ideal
and/or subjugating self to a “noble” cause
3. tax administration environment
Overall Tax Policy and Administration
(Tax Officials)
Tax Payers
The Environment
The Transactional Interplay
International
Trends
Economic Behavioural
Output
Maximization
Ethics
4. evolving context
The ethics of tax administrators
• Do Taxes Matter? Tax Compliance and Morality by James Alm and Benno
Torgler [Journal of Business Ethics [July 2011, Volume 1, Issue 4, pp 635-
651] speaks of 3 paradigms
• Based on the unsurprising finding that individuals are not merely rational
and self-interested but also ethical
Traditional “Enforcement”
paradigm – neo-classical
Less traditional “Service” paradigm –
kinder and gentler administration
New “Trust” paradigm – on a
foundation of ethics
Ethics is increasingly a variable in tax
compliance behaviour studies
Need to change the Tax Administration
Environment
Employ not merely
administrative/policy/economic measures
but also
Measures that will attend to Theory of
Planned Behaviour (TPB)
6. Enforcement:
– Annual Information Report (AIR)
– Criminal Investigation Branch (CIB) – [now the Directorate General of
Income Tax (Intelligence & Criminal Investigation or DCI)
– Other Third Party Information Sources
– Data Warehousing Business Analytics (DWBA)
Services:
– E-Filing, CPC, CPC (TDS), Refund Banker
– Authority on Advance Rulings (AAR)
– Advance Pricing Agreements (APA)
Trust:
– Self-Assessment, Advance Tax, Safe Harbour Rules
what has been done
7. 1. Dispute Resolution Panel
2. Filtering of cases– substantial Revenue and
Substantial Question of Law
tools - direct
what needs to be done
Ethical Standards and Principles
Code of Conduct
An Effective Enforcement System
An Effective Tax Appeal System
Standard of behavior expected of the employees in
the performance of their duties. The code provides
guidance as they make decisions, both personal and
professional
The code aims to:
1. Standardize behavior
2. Establish minimal standard of conduct
3. Formalize existing practices
should have the following traits:
1. Written and (legally) enforceable
code;
2. Clearly defined penalties for
infractions;
for minor offenses (administrative
discipline and punishment);
for fraud and corruption (prosecution);
3. Obligation to Report (Protection of
Whistleblower);
4. A continuous education system that
creates awareness of responsibility for
both the taxpayer and the public;
5. An independent monitoring
system/mechanism to ensure
compliance
8. tools – indirect (environmental)
• Standardization
– of Procedures
– Norms
• Simplification
– of the Tax System
• Reorienting Existing Professionalism
1. Reduce discretion of officials
2. Limit scope of scrutiny
3. Limit one-one/out of office contact
with the taxpayer
4. Internal controls
5. Performance Standards
1. Simple and clear rules
2. Anti-convolutism [e.g. fewer exemptions]
3. Concerted effort to remove ambiguities/
loopholes
1. No political appointments
2. Recruitment/promotion on merit
3. Responsibilities clearly defined (job description
manuals)
4. Segregation of duties
5. Staff rotation and continuous training schemes
what needs to be done
Enforcing the code of ethics of Tax
Advisors/Consultants and
Professionals
Coordinating with ICAI, the Bar
Councils and other Forms
9. tools – indirect (tax professional ethics)
cvc.nic.in/codeethics.pdf
• International Federation of Accountants (IFAC) Guidelines on Professional
Ethics for the Accountancy Profession
Fundamental Principles
Integrity
Objectivity
Professional Competence and Due Care
Confidentiality
Professional Behaviour
Technical Standards
Objectives
Credibility
Professionalism
Quality of Services
Confidence
“The rigorous disciplinary action of ICAI also seems to be ineffective to some extent in
deterring some of the Chartered Accountants from resorting to undesirable practices. The
reason for this, seems to be that many a time undesirable practices are not caught and only
sparingly CA(s) get punished for their intentional misdeeds; which again is a time taking
process”
Referred to Examples
Mandated a Policy
Ethical Standard Board
esb.icai.org/
Know Your Ethics - ICAI
regular publication
10. Theoretical Economics Letters
Vol. 2 No. 1 (2012) , Article ID: 17361
Corruption, Growth, and
Taxation
Yazid Dissou, Tatsiana
Yakautsava
Department of Economics,
University of Ottawa, Ottawa,
Canad
11. international
• Ethical preferences of individuals compounded by those of tax
administrations and corporates (MNEs) - individuals can be handled through
resident rule and passive income taxation
• 70% of world trade through MNEs
11
self-interested strategising
and hard-nosed hardballing
game-theoretic scenarios
Encouragement of
voluntary
compliance can
take place only
through consensus
and realignment
ethicality versus reality
versus practicality
13. ethics respecified
• Constant and continuing social tension on distribution and levels of
taxes
• The fuzzy ethical logic above leads to corporate tax avoidance
• History: Window Tax in the UK 1696 to 1851 Result:
Windows Bricked-up
Moral/Ethical
Taxes: the prices that you pay
for civilization
Practical/Business-oriented/Cynical
Taxes: an unfair burden; a process of
transferring money to undeserving/
underperforming others
The Great Fuzzy Ethical Divide
Paying the lowest amount of
tax is unethical/immoral
Exploiting legal loopholes perfectly legitimate;
Argument of tax efficiency and contributions in
other ways and kinds (VAT/Employee Tax, etc.)
14. ethics respecified
• “People of the same trade seldom meet together, even for merriment and
diversion, but the conversation ends in a conspiracy against the public, or in
some contrivance to raise prices” – Adam Smith
• International (transactions) taxation – more about Corporate (read MNE)
issues than individual issues
Business (also corporate) ethics: a form
of applied (or professional) ethics that
examines ethical principles and moral or
ethical problems that arise in a business
environment
Corporate Objectives and Framework
15. ethics respecified
• Most major corporations today promote commitment to non-economic values
under headings such as ethics codes and social responsibility charters
interaction of profit-maximizing
behaviour
non-economic
concerns
business ethics
Tax Fraud
Tax Planning
Tax Evasion
Tax Avoidance
Tax Mitigation
Treaty Abuse
Tax Sheltering
Scale of Legal Aggression
In line with the Text
and Spirit of the Law
In line with Text but the Spirit
of Law violated
Both the Text as well as the
Spirit of Law violated
The Environmental Mosaic
16. “unethical” methods
• Simply shifting tax events (bearing activities) to an offshore “tax paradise”
• Change the nature and constitution of the business units [e.g. hybrid
entities]
• Transfer Pricing manipulations
16
Residence Rule comes in the way
• Rearrange Economic (FAR) Events
jurisdictionally [e.g. shift debt]
• Artificial avoidance of PE status
[e,g. Amazon in the UK exploited
the definition in OECD Convention
Article 5, paragraph 4 that does not
“include the use of facilities solely
for the purpose of storage or
delivery of goods or merchandise”]
• Business Restructuring
• Elaborate Tax Treaty/
Jurisdiction driven structures
17. administrative solutions
• Change tax laws or frame tax rules so that there is a smaller scope for
avoidance
• Better collaborative action and exchange of information; incentives for
and/or sanctions on tax havens
• Stimulate and encourage ethical approaches and practices
17
• Limiting tax credits; Withholding/Refund Approach; Alternative
Minimum Tax
• General Anti-Avoidance Rules (or General Anti-Abuse Rules)
abbreviated as GAAR
• Shifting Burden of Proof; Increased information reporting
• Activist Judicial Doctrines: [e.g. in the UK as in IRC v Ramsay
(1981) followed by Furniss v. Dawson (1984)] - rejected as
unpredictable and impractical in most countries
• Retrospective Action; Formulaic apportionment?
18. whither tax administrators?
• Tax administrators internationally have tried to differentiate amongst
• Tax Avoidance frowned upon because it distorts
– Investment and Capital Flows
– International Competition
Tax Evasion
Tax Avoidance
Tax Planning
Avoiding Taxes without
Avoiding (Tax) Liability
A way of removing,
reducing or postponing a
tax liability other than by
tax evasion/planning
Removing/Reducing/
Avoiding Tax Liability
Economic/Tax Neutrality
19. whither tax administrators?
• OECD Guidelines of Detection: “International Tax Avoidance
and Evasion: Four related studies”, 1986 on page number 17
• OECD Action Plan on BEPS, 2013 after describing a case
– Offends the spirit of the law that allowed relief in a genuine interest
– The main benefit was the obtaining of a tax benefit and not a loan
– Artificial and not carried out in a normal commercial manner
• Contrarian views
Elements of artificiality: No
economic or business aims as
primary purpose
Features of
secrecy
Taxes advantage of
loopholes in law for
unintended purposes
USA: 1934 Helvery vs. Gregory Anyone may arrange his
affairs so that his taxes shall be as low as possible
European Court of Justice: Freedom of Establishment;
jurisdiction shopping a legitimate exercise; concept of “not
wholly artificial”
20. actions statement
• Tax jurisdictions need clarity on what is “ethical” and what is not
– Turning blind eyes towards tax havens and/or abetting these is counter productive
– Increasing proof of changes happening
• Multinational companies themselves have 3 key challenges
– how to foster a culture of ethical conduct in all countries of operation
– how to engage a global workforce in understanding and adopting its corporate
values; and
– how to meet the web of complex legal and compliance obligations that may exist
in all its locations
• Command-and-Control [cum-Corruption-and-Bribery?] versus mutual and
public trust
Taxation principles of
Simplicity, Accountability,
Equity, Predictability,
Efficiency and Neutrality
Bridging the divide between
corporate and societal
interests
Play offs
21. Consensus on the ideal of
contribution maximization in
an organic, humanized world