Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
phoenix activity involves "the evasion of tax and other liabilities, such as employee entitlements, through the deliberate, systematic and sometimes cyclic liquidation of related corporate trading entities". However, a range of other activities that can be considered deceptive are often referred to as phoenix activity.
Additionally, companies can liquidate and later honestly be revived. It is the recommendation of this report that the following definition of phoenix activity be used:
Phoenix activity is the deliberate and systematic liquidation of a corporate trading entity which occurs with the illegal or fraudulent intention to:
- avoid tax and other liabilities, such as employee entitlements
- continue the operation and profit taking of the business through another trading entity.
Liabilities may also include contractual or statutory obligations and civil or criminal proceedings.
Advantages of Arbitration (a) First is, Speed : It is a faster scheme of dispute resolution (b) Second is, Convenient : Parties are free for determine as; Th
WINDING UP ON: "THE JUST AND EQUITABLE GROUND": Unlike the other five grounds this one is widely interpreted and it is no objection that the petition is based on facts u
Law and Morality: Since morality contain of prescriptions of the society and is not enforceable, hence rules of law are enforceable. However wrongs in society are contraventi
Hire-Purchase and Conditional Sale – Sales of Goods Conditional Sale is an agreement for the sale of goods like in which the purchase price or part about it is payable through
Misfeasance by the auditors: However it is not sufficient to describe that the frauds must have been detected whether the entries in the books had been put mutually in a way w
COMMENCEMENT: However section 46(4) of the constitution offers that like, a law made through Parliament shall not come in operation whether it has been published in the Englan
Defines Controlled delivery This convention legalized the act of Controlled delivery and defines "Controlled delivery" as "the technique of allowing illicit or suspect consignm
Illustrate the case of environmental taxes Consider the case of environmental taxes. There is clear evidence that International Environmental Agreements (IEAs) suffers from an
Issuing shares at a discount: In Ooregum Gold Mining Co of India Ltd v Roper (45) the House of Lords held that it is illegal for a limited company to issue its shares at a dis
CASUAL VACANCIES: By S.159 (6) "The directors may fill any casual vacancy in th office of auditor, so further any there such vacancy maintaining the surviving or continuing au
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd