(US, economics, law) A substantial purpose (aside from reduction of tax liability) and an economic effect (aside from the tax effect), which a transaction must have in order to qualify for any tax ben
(US, economics, law) A substantial purpose (aside from reduction of tax liability) and an economic effect (aside from the tax effect), which a transaction must have in order to qualify for any tax benefits.
No comments yet — say something.
Add your own interpretation of "economic substance".
Regional slang from around the English-speaking world — British, Australian, Irish, Caribbean, Nigerian, Filipino, AAVE, and the hyphenated-English dialects that make the internet sound local.
See all Regional & Other slang on Slangora.
Browse all slang words starting with E.
(Canada, law) The content or subject matter, the leading feature or true nature and character of a law.
(US) A kind of corporate entity that seeks to have a positive impact on society and environment in addition to making profit.
use of resources.
The study of money, currency and trade, and the efficient use of resources.
(economics) A tax levied upon certain documents, a stamp being applied to show that tax has been paid.