GAAR - Trinidad & Tobago - Iatj.net

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Anti‐avoidance in general • It is true to say that the tax laws of most developing countries have not kept pace with modern trends in taxation and the <strong>GAAR</strong> may be one such instance. Statutory provisions intended to increase the tax yield and improve administrative efficiency have in fact increased the trend towards evasion as well as increased the trend towards tax avoidance . However, leading tax jurisdictions in the Commonwealth Caribbean, perhaps feeling the recessionary ‘pinch’ have seen successive Ministers of Finance express an intention to engage in major reform of the tax system with the key objective of widening the tax <strong>net</strong> 3rd IATJ Assembly Munich 18‐19 October 2012 20
• However, for many developing countries there is no effective arrangement for making even a normal assessment on a non‐resident save to demand some information about the number of days spent in the jurisdiction in order to establish whether such a person may be caught. Both multilateral and bilateral treaties could be utilised more to include provisions for the exchange of information to prevent fraud, tax evasion and tax avoidance 3rd IATJ Assembly Munich 18‐19 October 2012 21
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 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: Tax Treaties • Bilateral tax trea
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

GAAR - Trinidad & Tobago - Iatj.net

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