GAAR - Trinidad & Tobago - Iatj.net

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Outline of presentation • 1. Historical and current review of <strong>GAAR</strong>’s underlying principles • 2. International, Regional and National framework • 3. Judicial attacks on Anti‐Avoidance • 4. Specific instances of anti‐avoidance and judicial interpretation • 5. Case Study: OECD v Tax Havens 3rd IATJ Assembly Munich 18‐19 October 2012 2
Topical nature of Anti‐Avoidance • “As an effective political lobby, you really have to hand it to the very wealthy. …Starbucks has paid just 8.6 million [sterling] in corporation tax on sales of 3 billion (less than 1%) over the past 14 year, thanks to a variety of‐legalaccounting tricks. Starbucks’ UK operation, for instance, pays 6% of its sales for using the parent company’s ‘intellectual property’. This follows similar revelations about Facebook and Amazon, both of which pay minimal UK tax‐Amazon on annual sales of 3 billion [sterling]‐ thanks to legal tax avoidance techniques.” (Andrew Nether, The rich avoid tax because we let them, Evening Standard, 17 th October 2012) 3rd IATJ Assembly Munich 18‐19 October 2012 3
Page 1: ANTHONY DJ GAFOOR TRINIDAD & TOBAGO
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 and 14: Common Law jurisdictions • Have i
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 59 and 60:
3rd IATJ Assembly Munich 18‐19 Oc
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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