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CBDT has started the POEM initiative to determine the tax payable by a foreign company from the year 2018. What does P in POEM stand for?

1. Person
2. Primary
3. Presence
4. Place

Correct answer: Place

Solution

POEM stands for Place of Effective Management. In tax law, it is used to determine the residential status and tax liability of a foreign company based on where key management decisions are made.

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