Lessons from Barclays: tax avoidance is a choice, not a duty
From Tax Research, following our blog about Barclays axing back its tax abuse unit:
"There are lessons to be learned from this.An important point. The converse of this, of course, is that directors do not have a straightforward duty to shareholders to minimise tax: they do not, and Barclays is saying they do not.
. . .
Companies are not required to minimise their tax bills: no one will be threatening Barclays with litigation for changing its policy. It is entirely legitimate for it to do so.
. . .
The Tax Justice Network and I have said this for years. It’s always and very obviously been true. But confirmation from Barclays was unexpected and welcome."
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