Since June 2008, when a broadened definition of low-tax jurisdictions (tax havens) was introduced by the authorities, taxpayers have been eagerly awaiting the enactment of an updated black list of tax haven jurisdictions for tax and transfer pricing purposes. The latest version of the black list was issued in August 2002.
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Authors from Khaitan & Co dissect a ‘welcome’ ruling, which found that the mere existence of a tax benefit would not, by itself, warrant a principal purpose test
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