Oct 28, 2018
Requirement for Tax Substance in Tax Planning Designs
The concept of substance over the legal form has become crucial in the rightful representation as well as the reliability of info captured in financial statements. The main goal of the concept is ensuring that all business transactions are presented in a manner that demonstrates the real position of the business.
This post demonstrates how the principle applies outside the focus of financial statements. In particular, it looks at how it affects the larger tax planning community.