: Incorporates General Anti-Avoidance Rules (GAAR) and "thin capitalization" restrictions to prevent profit shifting.
According to the National Board of Revenue (NBR) and other official summaries, the act introduces several structural changes: ITA2023.part3.rar
: Establishes a new structure for allowable deductions, including general, specific, and bad debt categories. : Incorporates General Anti-Avoidance Rules (GAAR) and "thin
: Reorganized into simpler categories for easier classification by taxpayers. ITA2023.part3.rar