ACCA'S UNETHICAL TAX POLICIES
ACCA is well known for pursuing anti-social policies. One of these relates
to the redistribution of wealth.
The wealth divide in the UK between the rich and poor has grown considerably
since 1979. However, ACCA does not advocate redistribution of wealth from
the rich to the poor. Instead, it campaigns for further tax concessions for
corporations and a wealthy elite (
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). Many UK companies are already evading/avoiding taxes. Many of these schemes
are devised by accountants
Yet ACCA does not ask accountants
to behave in a socially responsible way.
ACCA claims that “The UK Government is in danger of missing the boat
if it does not consider lowering its main corporation tax rate. The relatively
low rates of corporation tax in other industrialised countries mean that
new business capital will flow to those countries". Offshore tax havens have
the lowest tax rates, yet none are known for any advances in science, industry,
engineering or human rights. The 'race to the bottom' in pursuit of capital
flows encourages speculation and has already threatened the economies
of Argentina, Venezuela and Malaysia. Can the ACCA bureaucrats
think beyond simple slogans?
The result of the ACCA policies would be that ordinary people would end up
paying an even higher share of their income in taxes to maintain crumbling
public services. ACCA does not care much about the social consequences of
its policies. How can the ACCA encourage its members and students to behave
in an ethical manner when it itself pursues unethical policies.