Advance Rulings: A Proposed Procedure
STRIKING THE BALANCE: TAX ADMINISTRATION, ENFORCEMENT AND COMPLIANCE IN THE 1990S, pp. 94-129, M. Gammie, A. Shipwright, eds., Institute for Fiscal Studies, 1996
19 Pages Posted: 13 May 2010
Date Written: 1996
Abstract
Taxation is a significant cost for most businesses. The viability of many transactions and operations will depend on how they are taxed. Doubts as to tax effects of certain transactions or operations can mitigated by an advance rulings procedure. The taxpayer can place proposals before the relevant revenue authorities and ask them to rule on their fiscal implications. With the increasingly complex nature of income tax law the need for advance rulings procedures has become more pressing. Countries that do not offer advance rulings have become the subject of much criticism.
Keywords: Advance Rulings, Income tax, Business tax
JEL Classification: K34
Suggested Citation: Suggested Citation