Out of all the taxes, corporate taxes imposed on multinational corporations (MNCs) are major sources of revenue for most economies. But in the event of these corporate tax payers shifting their tax liabilities from a high tax jurisdiction to a low- or no-tax jurisdiction, massive revenue losses are imminent for the fiscal jurisdiction where the taxes should have been ideally paid. ______________________________. With a mélange of some creative accounting techniques and existing loopholes in different fiscal jurisdictions across the world, tax evasion has emerged as a global woe in the last few decades.

Both historical and contemporary perceptions of tax have characterised it as a necessary extraction, a penalty.

Despite some major limitations, various fiscal jurisdictions have already gone ahead with signing such agreements.

Tax evasion is where a seepage in the boundaries set by fiscal laws is discovered, and which is then used to escape the tax net to a great extent or altogether.

Various countermeasures have been deployed by states, either at an individual level or as members of different economic groups.

Once riddled with incidents of double taxation, the MNCs have now outsmarted the system and have moved into an era of double non-taxation.

Out of all the taxes, corporate taxes imposed on multinational corpora

1.	Out of all the taxes, corporate taxes imposed on multinational corporations (MNCs) are major sources of revenue for most economies. But in the event of these corporate tax payers shifting their tax liabilities from a high tax jurisdiction to a low- or no-tax jurisdiction, massive revenue losses are imminent for the fiscal jurisdiction where the taxes should have been ideally paid. ______________________________. With a mélange of some creative accounting techniques and existing loopholes in different fiscal jurisdictions across the world, tax evasion has emerged as a global woe in the last few decades.
A.	Both historical and contemporary perceptions of tax have characterised it as a necessary extraction, a penalty.
B.	Despite some major limitations, various fiscal jurisdictions have already gone ahead with signing such agreements.
C.	Tax evasion is where a seepage in the boundaries set by fiscal laws is discovered, and which is then used to escape the tax net to a great extent or altogether.
D.	Various countermeasures have been deployed by states, either at an individual level or as members of different economic groups.
E.	Once riddled with incidents of double taxation, the MNCs have now outsmarted the system and have moved into an era of double non-taxation.
Answer» F.

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