Advance tax ruling: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Link with Clearance page.) |
imported>Doug Williamson (Expand the stub and make generic.) |
||
| Line 1: | Line 1: | ||
(ATR). | (ATR). | ||
An advance tax ruling is a written confirmation by a tax authority of its interpretation of the tax law applying to a proposed transaction. | Advance tax rulings are sometimes also known as 'tax clearance', 'pre-clearance', 'non-statutory business clearance' or 'clearance'. | ||
They are designed to enable the parties to a proposed transaction to obtain reassurance (before committing to the transaction) about its tax effects. | |||
An advance tax ruling or clearance is a written confirmation by a tax authority of its interpretation of the tax law applying to a proposed transaction. | |||
In relation to major transactions, the parties may make the obtaining of a favourable advance tax ruling a precondition to completing the transaction. | In relation to major transactions, the parties may make the obtaining of a favourable advance tax ruling a precondition to completing the transaction. | ||
Revision as of 10:53, 3 March 2016
(ATR).
Advance tax rulings are sometimes also known as 'tax clearance', 'pre-clearance', 'non-statutory business clearance' or 'clearance'.
They are designed to enable the parties to a proposed transaction to obtain reassurance (before committing to the transaction) about its tax effects.
An advance tax ruling or clearance is a written confirmation by a tax authority of its interpretation of the tax law applying to a proposed transaction.
In relation to major transactions, the parties may make the obtaining of a favourable advance tax ruling a precondition to completing the transaction.
