When the US Congress codified the long-standing common law doctrine known as economic substance, many tax practitioners were not shy about criticising the move, expressing concern about the effects of this new law on corporate tax planning. Erin Kelechava spoke to tax lawyers, professors, and policy experts and found out that a statute that was meant to clarify what an abusive transaction is may end up achieving the opposite result.
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Luis Coronado suggests companies should embrace technology to assist with TP data reporting, as the ‘big four’ firm unveils a TP survey of over 1,000 professionals
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