GAAR - Trinidad & Tobago - Iatj.net

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Civil Law jurisdictions • Civil law jurisdictions have adopted an abuse of law approach which seeks to apply a two‐tiered test of disregartding the tax benefirs of a transaction in which the form is not specifically contemplated by law and the same economic benefits could have been achieved by a different way (Avi‐Yonah et al, 2011) 3rd IATJ Assembly Munich 18‐19 October 2012 14
International tax evasion and avoidance • Globalisation and the movement of persons regionally and internationally have provided ample scope for the avoidance of liability to tax where individuals who reside abroad may fail to file a tax return in the country of his citizenship. • There is also often the failure to report investment income derived from another country where such income is deposited outside the country of citizenship or main residency or which may take the form of bearer securities 3rd IATJ Assembly Munich 18‐19 October 2012 15
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 and 12: Review of Anti‐Avoidance principl
Page 13: Common Law jurisdictions • Have i
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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