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Fiscally Responsible Businesses as a Result of COVID-19 Pandemic Shock: Taking Control of Countries' Tax Systems by Putting an End to Corporate Tax Evasion and Tax Havens

Fiscally Responsible Businesses as a Result of COVID-19 Pandemic Shock: Taking Control of Countries' Tax Systems by Putting an End to Corporate Tax Evasion and Tax Havens
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Author(s): Cristina Raluca Gh. Popescu (University of Bucharest, Romania & The Bucharest University of Economic Studies, Romania)and Jarmila Duháček Šebestová (Silesian University in Opava, Czech Republic & SBA in Karviná, Czech Republic & Moravian Business College Olomouc, Czech Republic)
Copyright: 2022
Pages: 32
Source title: Handbook of Research on Changing Dynamics in Responsible and Sustainable Business in the Post-COVID-19 Era
Source Author(s)/Editor(s): Cristina Raluca Gh. Popescu (University of Bucharest, Romania & The Bucharest University of Economic Studies, Romania & TheNational Institute for Research and Development in Environmental Protection (INCDPM), Romania& National Research and Development Institute for Gas Turbines (COMOTI), Romania)
DOI: 10.4018/978-1-6684-2523-7.ch008

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Abstract

The COVID-19 pandemic and COVID-19 crisis represent impressive motivating forces for advancement, change, evolution, and improvement at a global level. The study focuses on the OECD latest developments in international tax reform work on base erosion and profit shifting (BEPS) in the courageous attempt to promote novel global initiatives for responsible tax and to support ambitious global actions for responsible tax principles. The results show the need to establish fiscally responsible businesses as a result of COVID-19 pandemic shock, thus taking back control of countries' tax systems by putting an end to corporate tax evasion and tax havens. The findings address the importance of being in line with tax principles, encouraging responsible financial transactions and behaviors.

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