Leon Kwong Wing of KhattarWong-Taxand explains how a recent dispute from Singapore sheds light on the debate of a taxpayer’s freedom to legally arrange his affairs in such a manner that maximises his tax benefits against the natural desire of the state to collect the revenue it believes it should.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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