Tax on “perks”
Sir, — With the increasing interest in the reporting of the taxing of “perks,” perhaps "The Press” could maintain its high standards and clarify the terminology. An article by Ken Coates refers to “a legal form of tax evasion.” I recall recently a new Cabinet Minister talking of “illegal avoidance.” My understanding is that in the field of taxation all forms of evasion are illegal. Avoidance however, is legal, fair game, and keeps a large proportion of the accounting and legal professions in business. What the Government is probably considering is the shifting of some business practices from the field of avoidance to evasion. — Yours etc., S. M. MURRAY. August 23, 1984. [A "perk” is a colloquialism of perquisite, which is a casual profit additional to normal revenue or emolument, or an incidental benefit attaching to employment. In general terms, the correspondent is correct on “evasion” and “avoidance.” — Editor.]
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Press, 28 August 1984, Page 12
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151Tax on “perks” Press, 28 August 1984, Page 12
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