Thursday, January 03, 2008

Tax avoidance is sensible AND legal!

A quote about tax avoidance from the famous American judge Learned Hand

Tax avoidance and tax evasion are not the same. Evasion is morally wrong and illegal and those that do it should be punished.

Avoidance is sensible and legal, you have a duty to your company to maximise your profit within the boundaries of the law which includes minimising the tax liability.

"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes.Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."

Judge Billings Learned Hand.

No comments: