Large Corporations Engage in Dishonest Business Practices Essay

Tags: income tax donald trump public servant business

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Is Current Business Immoral?




Current business is immoral in one way or another. It is clear that the top rich people in the society strive as much as they can to avoid situations where regulations or laws are applicable (Lippencott, 2011). This means that they use their financial power to make sure that decisions are made to favor them and not against them. Tax evasion is one of the major issues that make the current business immoral because such corporations find ways of circumventing the system. Large corporations across the globe do not want to pay the taxes that they should. This makes the tax burden to be taken or carried by the rest of the small companies in a specific country. The effect of this is that most of the nations end up losing a lot of money that would have been paid in the form of taxes.



It is important to note that most of the large corporations always want to have a shortcut when it comes to projects. These corporations want to use the power they have in order to dictate the decisions made in the society. Taking the example of Donald Trump, it is clear from the interview that a public servant or an institution only becomes professional or is said to be ethical only when they make a decision that favors his company.

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Such a thinking is immoral because will not only prevent other small companies from competing effectively. In doing this, Trump's implication is that his strong financial statement is meant to give him an upper hand when it comes to tenders in the country (Washington post, 2016).



Looking at the cases of Andrew Forrest and Gina Rinehart, one agrees that ethics in the accounting profession plays a major role when it comes to the morality of business. For example, Gina Rinehart is said to have paid the total tax rate that her company was supposed to pay, which amounted to about $446 million. The implication is that not all businesses are immoral. The tax return preparation done by the tax accountants in Gina's company was true and applied ethics. This means that ethics plays a major role when it comes to the issue of tax. The tax accountants either working as self-employed agents or as employees of accounting firms have a role to play in the morality of businesses today. When a company does not pay the real figure that it is supposed to pay, then it becomes apparent that the values must have been doctored for the company. The effect of these changes made in the financial results of the company in order….....

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Bibliography


Dubcova, G. (2013). Actual Trends in Theory and in Practice of the International Business Ethics. Ekonomika a Management, 2013(1), 16-28.

Lippencott, G. (2011, May 23). The Immorality of American Business. - Loyal Opposition / LJWorld.com. Retrieved from http://www2.ljworld.com/weblogs/loyal-opposition/2011/may/23/the-immorality-of-american-business/

Mather, J., & Tadros, E. (2016, March 23). The ATO Reveals the Tax Secrets of the Rich List - afr.com. Retrieved from http://www.afr.com/news/policy/tax/the-ato-reveals-the-tax-secrets-of-the-rich-list-20160321-gno066

Washington post. (2016, March 21). A transcript of Donald Trump's meeting with The Washington Post editorial board - The Washington Post. Retrieved from https://www.washingtonpost.com/blogs/post-partisan/wp/2016/03/21/a-transcript-of-donald-trumps-meeting-with-the-washington-post-editorial-board/?tid=ss_fb&utm_term=.644f2b89d856

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