GAAR - Trinidad & Tobago - Iatj.net

Specific Anti‐Avoidance Provisions
• SAAP exists in Jamaica in relations to counteracting
the tax advantages of transactions in securities. The
Revenue is empowered to nullify the transaction
unless the taxpayer can show that the transaction was
for a bona fide purpose; in the ordinary course of
making or managing investments and, in either case,
none of the transactions have as its objective the
gaining of a tax advantage (cf. Seramco)
3rd IATJ Assembly Munich 18‐19 October 2012 55