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Question 5 5 marks Elias places money he earns from his property investment business in a bank account located in the Cayman Islands. Discuss the

Question 5

5 marks

Elias places money he earns from his property investment business in a bank account located in the Cayman Islands. Discuss the tax implications, with reference to McGee (2016), and determine whether this constitutes tax avoidance, tax evasion, or tax planning

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