Loophole Games - A Treatise on Tax Avoidance Strategies (4th Edition, 2024)
- Year of Publication: 2024
- Edition: 4th
- ISBN: 978-93-5603-751-9
- No.of Pages: 390
This book was written originally to highlight the gaps in tax laws that are often exploited for aggressive tax planning as well as for tax avoidance. Many of the loopholes discussed in the first edition of this book have been plugged in successive budgets. Many other loopholes have been ‘contained’ by multilateral effort of many countries which have been equally affected by base erosion and profit shifting from their respective jurisdictions.
Corporate structuring has become even more challenging as new antiabuse provisions have been introduced in domestic and treaty laws. At the same time, new loopholes are arising due to pressure on countries to give tax incentives for promoting business. Differential tax rates, for different types of income, and for same type of income in different industries, are creating new avenues of avoidance.
Fourth edition of this book has dug out the new vulnerabilities that have arisen in a post-CoVID world, where countries are under pressure to provide tax concessions to business and at the same time mobilise resources to invest in healthcare. Since the personal income-tax rates in India are now more higher than corporate income-tax rates, the book has given special focus to discussing loopholes in taxation of High Networth Individuals (HNIs) and professionals, and why these loopholes are expensive for the exchequer.
This edition is being released in the midst of great upheaval in international tax rules. More than 130 countries have come together under the aegis of OECD/G20-sponsored Inclusive Framework to redraft international tax rules through a two-pillar approach. While Pillar 1 will affect only a handful of large Multinational Enterprises, Pillar 2 will have wide ranging impact on abusive tax planning structures. It seeks to impose a minimum Preface level of taxation on multinational groups that are eligible to file Countryby-Country reports.
About Taxsutra
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
About Commercial Law Publishers (India) Pvt. Ltd.
Commercial LAW PUBLISHERS (INDIA) PVT. LTD. which is in the legal publishing business for nearly three decades is now one of the top ranking legal publishers in India–recognized and accepted by diverse professionals and business entities as well as Government Departments in view of the high quality, practical utility as well as diversity in subjects on which it brings out Books. It has the powerful backing of its vast exposure as the leading Books Distributor All over India for over 45 years. From just a couple of titles during the first few years of its publishing activity, Commercial has now around 200 titles and over 350 Bare Acts & Manuals in the field of Direct Indirect Taxes, Corporate Law and Civil/Criminal Laws. It successfully launched the Bare Acts project in the year 1996 and has so far brought out over 350 updated Bare Acts. These are much sought after since these Bare Acts are annotated ones containing notes and brief comments, thus enhancing their utility. Commercial has been bold enough to bring out Books, Commentaries and Referencers on hitherto untouched subjects like Legal Metrology. It has a record number of publications on Income Tax, Company Law, Customs, GST and Students Publications for CA & CS by bringing out high quality publications at affordable prices and is an highly ethical business enterprise. Commercial has withstood the market competition successfully over the years including competition from Foreign publishers and strives its best to serve the legal and corporate professionals better and better every day with its novel ideas and business strategy. Commercial is backed by a team of highly competent in-house professional experts supplemented by high profile authors who have stood by it for decades.
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- Year of Publication: 2024
- Edition: 4th
- ISBN: 978-93-5603-751-9
- No.of Pages: 390
This book was written originally to highlight the gaps in tax laws that are often exploited for aggressive tax planning as well as for tax avoidance. Many of the loopholes discussed in the first edition of this book have been plugged in successive budgets. Many other loopholes have been ‘contained’ by multilateral effort of many countries which have been equally affected by base erosion and profit shifting from their respective jurisdictions.
Corporate structuring has become even more challenging as new antiabuse provisions have been introduced in domestic and treaty laws. At the same time, new loopholes are arising due to pressure on countries to give tax incentives for promoting business. Differential tax rates, for different types of income, and for same type of income in different industries, are creating new avenues of avoidance.
Fourth edition of this book has dug out the new vulnerabilities that have arisen in a post-CoVID world, where countries are under pressure to provide tax concessions to business and at the same time mobilise resources to invest in healthcare. Since the personal income-tax rates in India are now more higher than corporate income-tax rates, the book has given special focus to discussing loopholes in taxation of High Networth Individuals (HNIs) and professionals, and why these loopholes are expensive for the exchequer.
This edition is being released in the midst of great upheaval in international tax rules. More than 130 countries have come together under the aegis of OECD/G20-sponsored Inclusive Framework to redraft international tax rules through a two-pillar approach. While Pillar 1 will affect only a handful of large Multinational Enterprises, Pillar 2 will have wide ranging impact on abusive tax planning structures. It seeks to impose a minimum Preface level of taxation on multinational groups that are eligible to file Countryby-Country reports.
About Taxsutra
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
About Commercial Law Publishers (India) Pvt. Ltd.
Commercial LAW PUBLISHERS (INDIA) PVT. LTD. which is in the legal publishing business for nearly three decades is now one of the top ranking legal publishers in India–recognized and accepted by diverse professionals and business entities as well as Government Departments in view of the high quality, practical utility as well as diversity in subjects on which it brings out Books. It has the powerful backing of its vast exposure as the leading Books Distributor All over India for over 45 years. From just a couple of titles during the first few years of its publishing activity, Commercial has now around 200 titles and over 350 Bare Acts & Manuals in the field of Direct Indirect Taxes, Corporate Law and Civil/Criminal Laws. It successfully launched the Bare Acts project in the year 1996 and has so far brought out over 350 updated Bare Acts. These are much sought after since these Bare Acts are annotated ones containing notes and brief comments, thus enhancing their utility. Commercial has been bold enough to bring out Books, Commentaries and Referencers on hitherto untouched subjects like Legal Metrology. It has a record number of publications on Income Tax, Company Law, Customs, GST and Students Publications for CA & CS by bringing out high quality publications at affordable prices and is an highly ethical business enterprise. Commercial has withstood the market competition successfully over the years including competition from Foreign publishers and strives its best to serve the legal and corporate professionals better and better every day with its novel ideas and business strategy. Commercial is backed by a team of highly competent in-house professional experts supplemented by high profile authors who have stood by it for decades.
