INTERVIEW QUESTIONS TAX DETAILS

Question: What is Business Purpose Test in Taxation?

Answer: Business Purpose Test in Taxation is the test used as a weapon against tax avoidance schemes. Artificial schemes which create circumstances under which no tax or minimal tax is levied may be disregarded if they do not serve a "business purpose".

Business Purpose Test in Taxation is the test used as a weapon against tax avoidance schemes. Artificial schemes which create circumstances under which no tax or minimal tax is levied may be disregarded if they do not serve a "business purpose". Source: CoolInterview.com

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