GAAR - Trinidad & Tobago - Iatj.net

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Caribbean regional integration and tax avoidance • It is well recognised that a central impetus for foreign direct investment is a stable legal system and an independent and knowledgeable cadre of judges. • The regional integration movement in the Commonwealth Caribbean has sought to promote double taxation treaties as a means of fostering FDI though double taxation has sometimes been criticised for stunting economic growth and encouraging too many tax concessions. • Double taxation can be seen in this context as a species of anti‐avoidance and has proven to be a major issue for many Caribbean nations several of which have double taxation treaties with some of the more developed economies but interestingly far fewer such treaties exist between Caribbean countries 3rd IATJ Assembly Munich 18‐19 October 2012 24
Revised Treaty of Chaguaramas • The main blueprint for the regional integration movement is the Revised Treaty of Chaguaramas which was entered into by some 17 former colonies within the Anglophone Caribbean in 2001. • A.72(1) of the RTC, which mirrors many of the standard provisions found in multilateral trade treaties, provides that “Member States shall conclude among themselves an agreement for the avoidance of double taxation in order to facilitate the free movement of capital in the Community”. 3rd IATJ Assembly Munich 18‐19 October 2012 25
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 and 20: Tax Treaties • Bilateral tax trea
Page 21 and 22: • However, for many developing co
Page 23: 3rd IATJ Assembly Munich 18‐19 Oc
Page 27 and 28: Revised Treaty of Chaguaramas • I
Page 29 and 30: 3rd IATJ Assembly Munich 18‐19 Oc
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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