SHAM TRANSACTION

SHAM TRANSACTION

sham transaction. An agreement or exchange that has no independent economic benefit or business purpose and is entered into solely to create a tax advantage (such as a deduction for a business loss). ? The Internal Revenue Service is entitled to ignore the purported tax benefits of a sham transaction. [Cases: Internal Revenue 3071. C.J.S. Internal Revenue ¡ì¡ì 13¨C14.]
What is the legal equivalent of the term SHAM TRANSACTION in Chinese?
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