A recent survey asked: Is it morally wrong for corporations to use tax havens? I

Question

A recent survey asked: Is it morally wrong for corporations to use tax havens? Its results: Most said yes. See http://environicsresearch.com/insights/nine-ten-canadians-think-morally-wrong-canadian-corporations-use-tax-havens-new-poll/.

Delving deeper into the issue of tax avoidance, you will go beyond the news release. You will examine the polling data, not just the news release. You will round up the news coverage of the survey results. You will gain a sense of the public debates of tax avoidance in Canada. You will learn from relevant studies on tax justice in civil society by think tanks, governments and academics around the world.

Making good use of your research, you will write a 100-word note starting with the following:

It’s morally wrong for Canadian corporations to use tax havens because ….

That is, you will start by completing the sentence and then you will make your most compelling argument in your submission. You only have 100 words so make one compelling argument and make it well. You are required to demonstrate that you have done extensive research and made good use of your research to argue why it’s morally wrong for Canadian corporations to use tax havens.

Important: You cannot make up your own research question, e.g. you cannot argue it’s not morally wrong for Canadian corporations to use tax havens or you have reservations or … as that’s NOT the research question for this particular part of the research project. Think of this as an exam, in which you cannot make up your own exam questions for any reason.

Explanation / Answer

Well, it is morally wrong for Canadian Corporations to use tax havens because, it affects the Canadian economy. Billions of dollars are lost in tax revenues, because bigger corporations avoid huge taxes. Small companies and startups which need outright support will be deprived of the financial support, job holders had to pay huge taxes for poor the economic condition of the country, Higher the loss in the revenues due to tax havens, higher will be effect on the economy. Ultimately, Tax avoidance robs countries like Canada of billions of dollars in annual revenue.

In order to ensure that the economy is outrightly blooming, there should be a real change and tax havens to the larger corporations should be curbed. And the real change will only come if both domestic tax laws and regulations are changed and all those countries that are seldom portrayed as tax havens despite hiding billions in assets should not have the previliges of tax avoidance. Because, ultimately it is the people who suffer because of the poor economy and not the big corporations. Bigger corporations enjoy subsidies in the taxes, while they get the tax havens.

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