GAAR - Trinidad & Tobago - Iatj.net

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Resolution • Specifically, OECD’s approach was perceived as an attack on the sovereign right of independent jurisdictions to regulate their own tax affairs in the same way that the EU and the US had done • Moreover, they exhibited a willingness to share information after the temperature of the rhetoric was lowered to reasoned debate and discussion and the matter was to a large extent put to rest by 2002 and certainly by 2006. 3rd IATJ Assembly Munich 18‐19 October 2012 64
Lessons to be learnt • The need for greater respect for the integrity and sovereignty of small independent nations which continue to reel from developmental challenges and which have been made more acute since the financial crisis of 2008 up to the present time • A recognition that developing countries may be slower to implement strategies such as the <strong>GAAR</strong> until they have attained a certain level of development such as India (2012) but are nevertheless willing to enter into discussions for sharing vital information and monitoring/discouraging fraudulent activity and the abuse of tax avoidance/concessions 3rd IATJ Assembly Munich 18‐19 October 2012 65
Page 1 and 2:
ANTHONY DJ GAFOOR TRINIDAD & TOBAGO
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Topical nature of Anti‐Avoidance
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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 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: Arguments • The rhetorical contes
Page 67 and 68: Closing thoughts • Adam Smith oft
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GAAR - Trinidad & Tobago - Iatj.net

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