Tax avoidance and tax evasion cause major problems to the assessment and collection of tax and invariably attack the integrity of any tax system. Denis Healey, former UK Chancellor of the Exchequer once said “The difference between tax avoidance and tax evasion is the thickness of a prison...

Businesses that embark on major capital investments can incur substantial feasibility expenditure. One challenge they may face is that such expenditure although clearly business related is non-deductible. Among tax people this is known as expenditure which has fallen into a tax "black hole"....