2010-06-30

CAs, Taxes and Development

Practising CA friends - this may hurt.

But then some of your colleagues have been hurting all of us for years. This is how -

- sign off annual reports in spite of the knowledge that the promoters / management has depressed profits or worse has shown losses where the firm made profit.
- provided false certificates to firms and people so they could send Millions of $ when forex was a scarce commodity.
- help rich get richer by moving black-money from one hand to the other by devising schemes thanks to your knowledge of taxation.
(There are of course many other ways that I have not listed or not even aware.)

They have abetted tax avoidance. It may be acceptable per law but not so in spirit. They have also been abetting tax evasion, which actions have bled this country. Thousands of crores of rupees of taxes have been unpaid. Not saying that every rupee of that would have gone to development but even a trickle of that would have meant better lives for millions others.

Why am I cribbing. That is how life runs. All problems are micro, not macro. What happens to a country is not a concern of a small to medium practising CA. His main job is to earn his livelihood and through whichever means possible make his kith and himself richer.

PS: Generalization. Could not avoid.

No comments:

2010-06-30

CAs, Taxes and Development

Practising CA friends - this may hurt.

But then some of your colleagues have been hurting all of us for years. This is how -

- sign off annual reports in spite of the knowledge that the promoters / management has depressed profits or worse has shown losses where the firm made profit.
- provided false certificates to firms and people so they could send Millions of $ when forex was a scarce commodity.
- help rich get richer by moving black-money from one hand to the other by devising schemes thanks to your knowledge of taxation.
(There are of course many other ways that I have not listed or not even aware.)

They have abetted tax avoidance. It may be acceptable per law but not so in spirit. They have also been abetting tax evasion, which actions have bled this country. Thousands of crores of rupees of taxes have been unpaid. Not saying that every rupee of that would have gone to development but even a trickle of that would have meant better lives for millions others.

Why am I cribbing. That is how life runs. All problems are micro, not macro. What happens to a country is not a concern of a small to medium practising CA. His main job is to earn his livelihood and through whichever means possible make his kith and himself richer.

PS: Generalization. Could not avoid.

No comments: