+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Students (https://www.accountancy.com.pk/forum/forum-students)
+--- Thread: Official or Unofficial methods (/thread-official-or-unofficial-methods)
Official or Unofficial methods - Koolestboy - 07-24-2005
<b>I am from Engineering and will start BCOM ..
but want to know one thing ..
Accountants , finance Manager , they maintain accounts for company .. but not thats it , they save company from taxes through illegal ways and un-offical vouchers or Invoices , and show less profit to the GOVT. , is this right ..
i found many religious people here discussing many things related to interest is haram or giving Hadith etc ect .. I will not start discussing about Interest or any other thing ..
but want to know ur views about to Save a Company from taxes through illegal ways ...</b>
sorry for bad english
AamiR..
- mobin - 07-24-2005
Yes accountants do have more knowledge and expertise in this regard they can do these types of things easily but it is all about ethics !! Some regards it as illegal while some find it rather productive Besides as Javed Zuberi says "You will never be able to find the fraud until you dont know how to do one !!!
As far as interest is concern well we had a verrrrryy Veeeerrry long debate over this topic !!! so plz dont start it all over again !!
As far as saving a company is concern yes you can show less profits and more expenses simple to pay less tax. It looks simple but it is not easy to hide it but thats what for chartered accountants are !! ( Consider it done BOss)
After this long debate dont think that all accountants are cheaters !!! It is a very reputable profession and one must do his job with ethics and integrity !!!
The difference between dreams and accomplishment is purly desire
- sumaaan - 07-24-2005
Some use illegal means like you mentioned, while others tend to remain in the boundaries of the legal system by exploiting 'technical loopholes' in accounting standards.
- sumaaan - 07-26-2005
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by sam</i>
<br />I had a teacher , i asked him is it legal to pay less tax for purpose of saving the tax ,he answered me that law allows people to save tax if they can .I wondered on his statement wheather he was being sarcastic or straight.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Perhaps he didn't literally mean the word 'law', but rather 'accounting standards' (alternative treatment and flexibility in subjectiveness of sensitive issues).
- Pracs - 07-27-2005
Well, there is tax planning and then there is tax evasion ! with a thin line in between, a thin red line