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 ( click here to see more ). Many UK companies are already evading/avoiding taxes. Many of these schemes are devised by accountants

• The Unpaid Business Tax Scandal (23 Jul 2002)
  
• UK Companies Avoiding £20 billion in taxes (23 Jul 2002)

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.