GAAR - Trinidad & Tobago - Iatj.net

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3rd IATJ Assembly Munich 18‐19 October 2012 12
Common Law jurisdictions • Have initially in the formative years from the seminal case of IRC v Duke of Westminster (1936) stressed form over substance • Subsequent juridical developments such as Sharkey v Wernher and Furniss v Dawson have reversed the position in many ways so that a test of substance over form is now generally applied • Leading jurisdictions such as the UK have rejected the need for <strong>GAAR</strong> and only more recently have jurisdictions such as the US adopted the notions of business purpose, economic substance and step transaction tests 3rd IATJ Assembly Munich 18‐19 October 2012 13
Page 1 and 2: ANTHONY DJ GAFOOR TRINIDAD & TOBAGO
Page 3 and 4: Topical nature of Anti‐Avoidance
Page 5 and 6: Distinguishing Tax Evasion, Avoidan
Page 7 and 8: Royal Commission on the Taxation of
Page 9 and 10: Review of Anti‐Avoidance principl
Page 11: Review of Anti‐Avoidance principl
Page 15 and 16: International tax evasion and avoid
Page 17 and 18: Hybrid developments • These may b
Page 19 and 20: Tax Treaties • Bilateral tax trea
Page 21 and 22: • However, for many developing co
Page 23 and 24: 3rd IATJ Assembly Munich 18‐19 Oc
Page 25 and 26: Revised Treaty of Chaguaramas • T
Page 27 and 28: Revised Treaty of Chaguaramas • I
Page 31 and 32: Treatment of anti‐avoidance in th
Page 33 and 34: Leading anti‐avoidance cases in t
Page 35 and 36: Jamaica and Barbados • These are
Page 37 and 38: GAAR in the Caribbean • Typically
Page 39 and 40: Artificial transactions • Artific
Page 43 and 44: Wide scope of the anti‐avoidance
Page 45 and 46: Wide scope of anti‐avoidance prov
Page 47 and 48: St. Lucia • It was argued by the
Page 49 and 50: Jamaica • The leading case from t
Page 51 and 52: Jamaica • The Privy Council held
Page 53 and 54: Consequences of invoking the genera
Page 55 and 56: Specific Anti‐Avoidance Provision
Page 57 and 58: (3) Where a person transfers proper
Page 61 and 62: Background • In 1980s‐1990s, a
Page 63 and 64:
Arguments • The rhetorical contes
Page 65 and 66:
Lessons to be learnt • The need f
Page 67 and 68:
Closing thoughts • Adam Smith oft
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GAAR - Trinidad & Tobago - Iatj.net

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