GAAR - Trinidad & Tobago - Iatj.net

International tax evasion and
avoidance
• For example, an official of country A can promote a
subsidiary in country A to make remittances to its parent
company in country B only if the parent company in
country B makes an unreported payment of income
earned in country B to a nominee of that official (or to a
numbered bank account in B) or country C. Similarly, a
resident in country E may stipulate that the proceeds of
such sale be deposited in a numbered bank in country D.
International income so concealed could then be used to
generate investment income which will likewise be
concealed from the taxing authorities of the country in
which the true owner of the account resides.
3rd IATJ Assembly Munich 18‐19 October 2012 22