What is the Corporate Criminal Offence?
If any individual or company found in facilitating in any or all of the below three, then it is termed offence is committed as part of CCO.
In defence of the offence - company has to show that they have proper process and procedure in place to stop Tax evasion, tax avoidance and Tax planning. If the offence has committed , it is purely coincidental in nature.
If any individual or company found in facilitating in any or all of the below three, then it is termed offence is committed as part of CCO.
In defence of the offence - company has to show that they have proper process and procedure in place to stop Tax evasion, tax avoidance and Tax planning. If the offence has committed , it is purely coincidental in nature.
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| 1. source:internet |
Tax evasion occurs when a tax liability is understated deliberately, fraudulently and dishonestly. This will typically involve the concealment of income or assets from tax authorities.
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| 2. source:internet |
Tax avoidance involves using the rules of the tax system to gain a tax advantage that Parliament never intended. Tax avoidance is not illegal but it can be challenge by concern govt authority.
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| 3. source:internet |
Tax planning involves using the rules of the tax system to gain a tax advantage that was intended by Parliament when the rules were introduced.
Note: This post inspired by various training and online reading material.
Thank you!
Satender Kumar Mall
Twitter: @satenderiiit
