This principle allows tax authorities to ignore any transaction, or step in a transaction, that is designed only or primarily to get a tax advantage. The principle is intended to steer courts away from being too permissive towards tax avoidance.
This principle allows tax authorities to ignore any transaction, or step in a transaction, that is designed only or primarily to get a tax advantage. The principle is intended to steer courts away from being too permissive towards tax avoidance.