economic substance

Questions

What does economic substance mean?

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.

How to pronounce economic substance

1. Open the pronunciation page — Open the Speakur entry for “economic substance”.
2. Read the phonetic spelling — Read the IPA spelling () so you know which sounds to aim for.
3. Play the audio — Click Play to hear reference audio for “economic substance”.
4. Repeat and practice — Say “economic substance” aloud, matching stress and vowels until it feels natural.