Re: Fiduciary Duty
We are all shareholders either directly in terms of stock holding or indirectly through Pension Scheme's, ISA's and so. So the Board of Directors answer to us..... get that point? right next one.
Corporate Social Responsibility, that its new name after an expensive rebrand. Historically we could more readily rely on companies to pay taxes as in my opinion there was less greed and self interest and more of an understanding that Companies needed to contribute if they were to benefit from the output from the education system as a minimum.....
What I mean by this is if Companies along with individuals do not pay their "fair share" in taxes then in effect society will breakdown.. We will have no schools, police, healthcare, transport (in some cases), utilities (in some cases) as these need to be funded and the funding raised from individuals via taxation cannot sustain such services which we all derive benefit from; yes including companies.
So without schooling, healthcare, transport and utilities for example there is no infrastructure to provide the necessary resources to sustain an organisation, its business goals, its revenue and profit generation and finally its ability to pay taxes.
So lets all wise up and stop bitching about our taxes always going up. Corporations exploit increasingly questionable tax laws to minimise their tax bill and serve their selfish interests; no doubt by design they are shifting the tax liability to the individual without a consequential increase in individual earnings.
How about this for a question. Do we think Boards of companies exploit increasingly questionable tax laws because of Shareholder pressure or are they driven by greed and personal incentive plans?
Personally I think it is the latter...................... you decide.