Dauds on Tax: Contemporary Issues

Tax constitutes every country’s main source of revenue, and countries typically use legislation to raise and collect such revenue. Because the payment of taxes is in most cases compulsory, rather than voluntary, individuals and corporations have always been tempted to engage in all sorts of tax planning, sometimes bordering on the aggressive, to reduce their tax liability substantially or make it disappear entirely. In an attempt to combat these activities and also protect the country’s tax base, tax legislation everywhere has tended to become rather technical.This has made it often difficult to fully comprehend the tax implications of business transactions from a plain reading of the legislation. This text seeks to provide a better understanding of the tax principles relevant to a number of business transactions, as well as the policy considerations underlying the tax treatment of these transactions. The book covers domestic as well as cross-border tax issues.