Offshore Accounting: Effects on Ethics, Tax Evasion & Financial

School: St. Lawrence College - Course: ACCT 4500 - Subject: Accounting

1TOPIC:Offshore Accounting and its Effect on Ethics and Tax Evasion Humber College The Business School ACCT 4500 - ACCOUNTING THEORY CAPSTONE PROJECT Group 7 Members: Darren Sooklall (N01302055) Ashley Ramnarine (N01255308) Prakash Balachandran (N00766084) Shashank Paul (N01225557) Prabhjot Rajput (N01232974) Date:April 17th, 2022 Instructor:Alfred Seaman

2Table Of Contents Acknowledgement3 Abstract4 Executive Summary5 Introduction5 Background/History6 Objectives8 Research Question9 Methodology9 Economic and Financial Effects of Offshore Accounting11 Advantages of Offshore Accounting12 Disadvantages of Offshore Accounting13 Issues with Offshore Accounting13 Money Laundering13 Tax Evasion15 Political, Global and Economical Issues17 Cultural and Social Impact of Offshore Accounting21 Discussion25 Analysis28 Conclusion36 Appendices38 References43

3Acknowledgement Before we get into this report, we'd like to thank our Professor Alfred Seaman who was able to guide us on this research project "Offshore Accounting and its effect on ethics and tax evasion" and guide us in the direction that we needed to go to fully research, learn and write our capstone project. With his guidance and teaching methodology we were able to put together this report with the help of an interactive culture that enabled us to have discussions and practical insights that made our topic stimulating for us to put together and complete as well as see other perspectives that we may not have seen otherwise. We would like to also thank the interviewees that we were able to interview, we are unable to disclose his identity due to confidentiality reasons, but we would like to express our gratitude towards them as well as the people who were able to go out of their way and answer our surveys for us to help further our research. They were able to give us a lot of insight and help to obtain a lot of the information that was written in this report. Once again,we'd like to thank everyone and show everyone that we wouldn't have been able to write this paper without any of their help and would like to show the utmost respect and value all the efforts that they had put in for us. Why is this page out of focus? Because this is a Premium document. Subscribe to unlock this document and more.