No duty to avoid tax. No kidding
The Tax Justice Network has received a legal opinion from Farrer & Co. It basically concludes that there is no positive duty on directors to avoid tax. This is uncontroversial but only part of the story. There is no specific duty not to avoid tax either.
A key duty of a director is to promote the success of the company for the benefit of its members as a whole. When deciding what best promotes the success of their company, the directors must take into account all relevant factors and assess their relative merits…
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