Place where there is no tax on income or it is taxed at low rate; individuals or corporate entities move from jurisdiction of high rates of taxes to the region of low tax in order to lower their overall tax liability is

CS Executive · Tax Laws and Practice · PYQS · June 2021
Place where there is no tax on income or it is taxed at low rate; individuals or corporate entities move from jurisdiction of high rates of taxes to the region of low tax in order to lower their overall tax liability is known as __________.
(A) Tax Haven
(B) Tax beneficiary country
(C) Safe Harbour
(D) Controlled foreign Corporation

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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