stakeholders, including governments, shareholders, and the public. Transparent operations contribute to trust, integrity, and the overall stability of the financial system. FINDING A MORAL BALANCE: Balancing the interests of stakeholders while upholding ethical standards is paramount. To address the morality of using offshore structures, the following measures are worth considering: 1. Enhanced International Cooperation: Governments and regulatory bodies should collaborate to create consistent and robust regulations that promote transparency and reduce tax evasion. International cooperation can minimize the ethical concerns associated with offshore structures and ensure a level playing field for all businesses. 2. Corporate Social Responsibility: Big businesses should embrace social responsibility by actively contributing to the communities in which they operate. This can be achieved through ethical tax practices, sustainable investments, philanthropy, and responsible supply chain management. 3. Ethical Leadership: Companies should adopt ethical leadership practices, setting a tone from the top that promotes integrity, transparency, and a fiduciary duty to maximize shareholder value and minimize tax burdens within legal boundaries. From this perspective, using offshore structures is an ethical means of optimizing business operations and maintaining competitiveness. FAIRNESS AND SOCIAL RESPONSIBILITY: Critics contend that the use of offshore structures by big businesses creates an unfair advantage over smaller enterprises that lack the resources to establish such structures. They argue that multinational corporations, by exploiting offshore jurisdictions, often avoid paying their fair share of taxes in the countries where they generate profits. This viewpoint asserts that businesses have a moral obligation to contribute to the societies in which they operate and should prioritize social responsibility over profit maximization. TRANSPARENCY AND ACCOUNTABILITY: Another ethical concern is what some might argue is the apparent lack of transparency associated with offshore structures, even though many jurisdictions are increasingly transparent. Critics argue that the opaqueness of these entities hinders public oversight and prevents effective regulation. They maintain that businesses should prioritize transparency and be accountable to The use of offshore structures by big businesses creates an unfair advantage over smaller enterprises that lack the resources to establish such structures. Business & Economy Finance Monthly. 46
RkJQdWJsaXNoZXIy Mjk3Mzkz