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?
LegalLingo, a Shanghai-based translation agency, is a recognized leader in comprehensive legal language solutions for the legal industry. We provide the world’s leading law firms and corporate legal teams with a full suite of services, ranging from the translation of contracts and compliance documentation to full-scale multilingual litigation requiring certified translation and Chinese document review. We deliver customized legal document translation solutions based on your case’s size and budget requirements, utilizing industry-leading technology to ensure accuracy, lower costs and faster turnaround times.