Task: “[T]he last 40 years in Australia has seen a blurring of the three categories (betweentax planning, tax avoidance and tax evasion), in particular, the distinction between[what constitutes] tax avoidance and tax evasion” (Xynas, 2011). Alongside economicglobalization, the recent decades have witnessed the rise of transfer pricing thatfacilitates the free movement of capital and tax avoidance (Hampton & Sikka, 2005;Sikka, 2017). In conventional accounting literature, transfer pricing is portrayed as atechnique for optimal allocation of costs and revenues… Such representations…simultaneously acknowledge and occlude how it is deeply implicated in processes ofwealth retentiveness that enable companies to avoid taxes and facilitate the light ofcapital” (Sikka & Willmot, 2010, p.342). Required: Discuss the overlaps and distinctions among tax planning, tax avoidance, andtax evasion, with particular reference (but not limited) to Xynas (2011). Explain and evaluate the concept of transfer pricing and how it relates to theabove quotes. You should address the issues including (but not limited to) thesocial, political, financial and ethical implications on business and broadersociety.
Subject Name: Civil Law_x000D_
Level: Undergraduate
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