You will already likely have paid fees to the advisor to put the scheme in place. Companies which fail to remit tax face the risk of tax penalty and even receivership. Along with the penalty or surcharge you may also have: to pay legal fees in court your case heard in public your name published on the list of tax defaulters.
The population of interest in the study consisted of all the 61 listed at the NSE. The data comprised of the size, institutional shareholding government shareholding, age, and intangible assets of the firms.
It should be noted that many of these challenges are successful. You should also be aware of the disruption caused by Revenue enquiries, potential litigation and prolonged uncertainty about the outcome.
Descriptive research design was used in the study. This has also been complicated by the transfer pricing models adopted by multinational companies. A tax avoidance scheme may be challenged under either: the GAAR contained in section C specific anti-avoidance provision contained in Schedule Therefore companies should be aggressive in improving their financial performance.