GAAR - Trinidad & Tobago - Iatj.net

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Historical antecedents • Income tax was introduced by William Pitt in 1799 to “prevent evasion and fraud, the presumption founded upon the Assessed Taxes should be laid aside and that a general tax shall be imposed on all the leading branches of income.” • The British Parliament recognised almost from inception that the taxpayer had an inherent right to employ legal means to minimise his liablity to taxation even if the exercise of that right defeated the spirit or intention on which that law was founded (‘loopholes’). However, it also considered it proper and justifiable to initiate steps to inhibit such spirit or intention. 3rd IATJ Assembly Munich 18‐19 October 2012 4
Distinguishing Tax Evasion, Avoidance and Tax Planning • The first category has generally been categorised as being illegal; the last as legal and the middle as being borderline depending on whether the scheme in question has the singular or exclusive purpose of conferring a tax benefit on the recipient taxpayer in a way that was unintended by the revenue and cannot otherwise be justified on commercial grounds 3rd IATJ Assembly Munich 18‐19 October 2012 5
Page 1 and 2: ANTHONY DJ GAFOOR TRINIDAD & TOBAGO
Page 3: Topical nature of Anti‐Avoidance
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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