Markets In Vice, Markets In Virtue

, by Braithwaite, John

Write a Review

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

ISBN: 9780195222012 | 0195222016
Cover: Paperback
Copyright: 8/18/2005

Rent

(Recommended)

$43.05

Term

Due

Price

Semester

Dec 12

$45.32

Quarter

Aug 13

$43.05

Short Term

Jul 27

$40.79

*This item is part of an exclusive publisher rental program and requires an additional convenience fee. This fee will be reflected in the shopping bag.
Buy New

Usually Ships in 3-5 Business Days

$58.02

Summary

Author Biography

Supplemental Materials

What have the market forces of supply and demand to do with making the tax system more equitable?

PART I: COMPETITION POLICY, EFFICIENT VICE AND TAX SYSTEM INTEGRITY

Competition policy and efficient vice

(13)

Efficient markets

(1)

Competition-induced supply

(1)

Competition-induced demand

(1)

Efficient vice

(2)

Regulating one man's vice, another woman's virtue

(3)

The limits of competition policy in respect of vice

(1)

Developing a regulatory theory for flipping markets from vice to virtue

(4)

Tax systems in crisis

(21)

What is aggressive tax planning?

(1)

The cyclical nature of aggressive tax planning

(1)

The larger crisis

(9)

``A great century for tax''

(1)

From progressive to regressive taxation

(1)

Lower corporate tax

(1)

Tax breaks and ``loophole madness''

(1)

Mobile wealth

(1)

Tax systems transformed

(1)

Fiscal termites

(1)

Moral termites

(1)

Not so simple choices

(1)

Policy options

(1)

A widening US corporate tax gap in the past decade, a narrowing Australian gap

(10)

What kind of future?

(1)

The political prognosis

(1)

Formulating a transformative vision

(4)

PART II: AGGRESSIVE TAX PLANNING IN SYDNEY AND MELBOURNE

The Australian advice market

(23)

A brief history of aggressive tax planning in Australia

(5)

The 1970s boom

(1)

The 1980s

(1)

The 1990s boom

(2)

From 2000

(2)

The interviews

(1)

The advice market

(6)

Client mix

(1)

Promotion paths

(1)

Advice mentalities

(2)

Product development

(1)

Reputational competition

(1)

The ideas people

(1)

The investors

(2)

Supply or demand driven?

(6)

Supply and demand

(1)

The impact of rulings on supply and demand

(1)

From supply- to demand-driven schemes

(1)

International supply of tax planning opportunities

(1)

Tax havens and concealed transactions

(1)

Multinational operations and networks

(2)

Is international tax planning supply or demand driven?

(1)

Rationalisations

(3)

Enforcement challenges

(8)

Intelligence gathering

(2)

Strategic cases and enforcement strategy

(2)

ATO competence in compliance management

(4)

How investors perceive enforcement risks

(1)

How professionals view their risks

(3)

Australian innovation in regulating aggressive tax planning

(35)

From ``command and control'' to ``responsive regulation''

(3)

The ATO Compliance Model

(7)

Understanding taxpayer behaviour

(2)

Building community partnerships

(1)

Increased flexibility in ATO operations to encourage and support compliance

(1)

Flexibility in delivering on compliance

(1)

Taking problems to international forums

(1)

Encouraging leadership at all levels

(1)

Flexible dispute resolution

(1)

More and escalating regulatory options to enforce compliance

(2)

The Promoters Taskforce

(3)

Crafting specific enforcement pyramids for specific schemes

(3)

Press releases

(2)

Settlements

(1)

The High Wealth Individuals Taskforce

(1)

Meta risk management

(2)

The Registered Software Project

(2)

Transfer Pricing Record Review and Improvement Project

(8)

Transfer pricing

(1)

The ``arm's length'' principle

(1)

Meta risk management and meta meta management

(1)

The Project

(1)

The Advance Pricing Agreement option

(1)

The results

(2)

Project objectives

(1)

The Project measured against the ATO Compliance Model

(1)

Conclusion: An expanded risk-leveraging toolbox

(6)

PART III: AGGRESSIVE TAX PLANNING IN NEW YORK

The New York advice market

103

(17)

Interviews in 9/11 America

103

(1)

A brief history of aggressive tax planning in America

104

(2)

Prior to 1986

104

(1)

The impact of the 1986 reforms

105

(1)

The boom of the late 1990s

105

(1)

The advice market

106

(14)

Shelter shops and the Big Five

106

(1)

Investment banks

107

(2)

Appetite for risk and the advice market

109

(1)

Scale and the advice market

109

(1)

Firms in the advice market

110

(2)

Aggression pays for the major accounting firms

112

(1)

Enter insurers to the advice market

113

(2)

Combatting worry-free aggressive tax planning

115

(1)

Collaboration and competition in the advice market

115

(5)

International arbitrage

120

(7)

New York leads an internationalisation of the advice market

120

(3)

Arbitrage in self-executing and non self-executing tax systems

123

(1)

A general anti-avoidance principle: Is it possible to have the best of both worlds?

124

(2)

Globalisation of tax policy?

126

(1)

IRS enforcement initiatives

127

(10)

Disclosure of aggressive tax planning

127

(4)

IRS announcements

131

(1)

How strategic court cases make a difference

131

(1)

Relationships with the IRS

132

(2)

Penalties

134

(1)

Potential strategic uses of penalties

134

(3)

PART IV: CONTROLLING AGGRESSIVE TAX PLANNING

Comparing the drivers of and responses to aggressive tax planning in Australia and the US

137

(7)

Contagion and aggressive tax planning cycles

137

(1)

The deeper causes of the Australian boom of the late 1990s

137

(1)

The deeper causes of the US boom of the late 1990s

138

(3)

The possibilities for reverse contagion

141

(1)

Conclusion

142

(2)

Reforming the law

144

(12)

Principles and rules defined

144

(1)

Integrated use of principles and rules

144

(1)

Uncertainties with rules

145

(4)

Rules possess a penumbra of uncertainty

146

(1)

Juxtaposition of rules creates uncertainty

146

(1)

Rules unpredictably exclude the unforeseeable

146

(1)

Discretion to pick and chose from a thicket of rules

147

(1)

Contriving to capture rule interactions

147

(2)

A possible solution: A principled integrity of rules

149

(2)

Civil liberty safeguards

151

(1)

The general anti-avoidance principle

152

(2)

Radically restructuring the substance as well as the form of tax law

154

(2)

Meta risk management using natural systems

156

(11)

``Inside-out'' and ``outside-in'' design

156

(2)

The Consolidation Project

158

(1)

Monitoring natural systems and raising the bar on tax obligations

159

(1)

Transparency and outside-in design

160

(1)

Defiance, gaming and natural systems

161

(2)

Limits of the natural systems approach

163

(3)

Finding pathways through a morass of complexity and uncertainty

166

(1)

Intelligent tax office culture

167

(10)

Rethinking intelligence

167

(3)

The importance of client relationships

167

(1)

Stimulating new intelligence sources by rewarding shelter discovery

167

(1)

Expanded returns for scheme participants

168

(2)

Transforming tax office culture

170

(5)

The problem of ``narrow perfectionism''

170

(2)

Asymmetry of punishment over reward

172

(2)

Pay, asymmetry and culture

174

(1)

From procedures manual to storybook; from a process improvement to a problem solving culture

175

(1)

Conclusion

176

(1)

Reforming enforcement strategy

177

(20)

Hopping off the punishment/persuasion see-saw

177

(1)

Responsive regulation in action

178

(3)

Adequate and escalating penalties

181

(1)

Inter-agency target swapping

182

(3)

Intelligence sharing for broader community interest

183

(1)

When other regulators can help the tax authority

184

(1)

Tackling enforcement swamping

185

(3)

Tackling the culture of compliance of the Big Four accounting firms and the ``Big Few'' investment banks

188

(3)

International collaboration towards enforcement

191

(2)

A more credible peak to the enforcement pyramid

193

(4)

PART V: VICE TO VIRTUE

Flipping markets in vice to markets in virtue

197

Rational virtue

198

(7)

Heavy promoter penalties

199

(1)

Restorative justice

199

(1)

Targeting the clients of ``A list'' promoters

200

(1)

Ban contingency fees

200

(1)

Strict liability

201

(1)

Shelter disclosure and book-tax disclosure for corporations

202

(1)

Integrating the private and public markets for tax advice

202

(1)

Educate investors to the risks

202

(1)

Corporate certification of continuous improvement in tax integrity

203

Webs of influence

205

(3)

Wider lessons

208

Please wait while the item is added to your bag...

FREE SHIPPING

Rent More, Save More! Use code: BBRENTAL

5% off 1 book, 7% off 2 books, 10% off 3+ books

Markets In Vice, Markets In Virtue

Summary

Author Biography

Table of Contents

Supplemental Materials

FREE SHIPPING

Rent More, Save More! Use code: BBRENTAL

5% off 1 book, 7% off 2 books, 10% off 3+ books

Markets In Vice, Markets In Virtue

Summary

Author Biography

Table of Contents

Supplemental Materials

Digital License