Meaning of economic substance | Babel Free
Definitions
A substantial purpose (aside from reduction of tax liability) and an economic effect (aside from the tax effect), which a transaction must have in order to qualify for any tax benefits.
US, uncountable
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.