Well described in precise words, “the difference between tax avoidance and tax evasion is the thickness of a prison wall”. However with the changing landscape of Indian tax regime and proposed introduction of GAAR, soon the said words would become futile under Indian legal scenario. Hitherto the concepts of “tax evasion” and “tax avoidance” were segregated by a thin line of legal sanctity, but post Vodafone verdict by the Apex Court, there has been a switch in legislative outlook and various amendments under existing Income Tax Act, 1961 and a series of renegotiations on existing Double Tax Avoidance Agreements (DTAAs) have taken place or are in line. Going ahead, a landmark budge is expected to be witnessed with the implementation of GAAR in April, 2017.
“GAAR”: A Threat to Commercial Tax Structuring?
Updated: Jan 18, 2022
Download PDF • 348KB