Author: William I. InnesPublisher: CCH Canadian Limited
ISBN: 9781553676195
Category : Income tax
Languages : en
Pages : 316
Book Description
The Essential GAAR Manual
Author: William I. InnesPublisher: CCH Canadian Limited
ISBN: 9781553676195
Category : Income tax
Languages : en
Pages : 316
Book Description
GAAR Interpreted
Author: Alan Martin SchwartzPublisher:
ISBN: 9780459280086
Category : Income tax
Languages : en
Pages :
Book Description
An American GAAR.
Author: John Prebble QCPublisher:
ISBN:
Category :
Languages : en
Pages : 5
Book Description
The President signed § 7701(o) of the Internal Revenue Code, the first U.S. statutory general anti-avoidance rule, or “GAAR,” into effect on 30 March 2010. The birth of the American GAAR was buried in § 1409 (a) of the Health Care and Education Reconciliation Act of 2010 (H.R. 4872). With § 7701(o) the muster of common law jurisdictions without GAARs is dwindling. India and the UK remain prominent hold-outs.Section 7701(o) applies to “any transaction to which the economic substance doctrine is relevant.” A standard GAAR says that an avoidance transaction is void for tax purposes and authorizes the Commissioner to reconstruct the transaction and to tax that notional reconstruction. The economic substance doctrine operates similarly. It tells the Commissioner to disregard legal transactions and instead to tax the economic substance beneath.The Obama GAAR has extra bite. It strikes down a transaction where the economic profit is not “substantial” in relation to its net tax benefits.This relative benefits rule was presumably intended to reverse the result in cases like Compaq Computer Corp v. Commissioner, but the drafting of § 7701(o) betrays all sorts of compromises. Paragraph (5)(C) says: “The determination of whether the economic substance doctrine is relevant to a transaction shall be made in the same manner as if this subsection had never been enacted.” Congress seems to be saying, “We may appear to have armed the Commissioner with a GAAR. But we don't really mean it. Everyone carry on as before.” But that interpretation is too bizarre to be tenable. On the contrary, § 7701(o) is a true GAAR that will prove a powerful weapon in the hands of the Commissioner. Notwithstanding its novel drafting, it will operate much as GAARs do in other common law jurisdictions. Like GAARs elsewhere it will become a focus of scholarly writing.
The Meaning of Gar ...
Author: Geneva MisenerPublisher:
ISBN:
Category : Greek language
Languages : el
Pages : 80
Book Description
Legislating Against Tax Avoidance
Author: Rachel Anne ToomaPublisher: IBFD
ISBN: 9087220340
Category : Income tax
Languages : en
Pages : 405
Book Description
Proposes a uniform statutory GAAR for the Federation of Australia, and examines "the experiences of countries with (e.g., Australia, Canada, New Zealand and South Africa) and without (e.g., the United States of America and the United Kingdom) a statutory GAAR"--Page ix.
GAARs and Judicial Anti-Avoidance in Germany, the UK and the EU
Author: Markus SeilerPublisher: Linde Verlag GmbH
ISBN: 3709408156
Category : Law
Languages : en
Pages : 371
Book Description
GAARS: the better insight into a country’s tax system In a post-BEPS tax world and in times of an ever-increasing need for tax revenue, policy-makers are more willing than ever to tighten or adopt General Anti-Avoidance Rules (GAARs). A GAAR is typically a broad principle-based rule trying to establish the borderline between “abuse” and “use” of a law, thereby addressing the phenomenon that as long as there have been taxes, persons have been trying to reduce their tax bills. This award-winning book compares the GAARs and judicial anti-avoidance approaches of Germany, the UK and the EU. It gives a deep insight into the predominant legal traditions of the Western World, comprehensively analyses case-law and offers unique perspectives on tax law across jurisdictions. This book reveals that there is no other feature of tax law that provides a better insight into a country’s tax system than its anti-avoidance rules. GAARs and their historical background reveal so much about judicial perspectives on taxation and legal interpretation, citizens’ tax morale, drafters’ inclinations for technical or principled drafting or legislators’ willingness to confront politically sensitive issues. Understanding the role of GAARs ultimately also reveals whether they are a suitable means to counteract tax avoidance effectively. The Book is the winner of the Wolfgang Gassner-Wissenschaftspreis 2016!
Recent Trends In Transfer Pricing Intangibles, GAAR and BEPS
Author: Ravikant GuptaPublisher: Bloomsbury Publishing
ISBN: 938614171X
Category : Business & Economics
Languages : en
Pages : 532
Book Description
About the book The growing importance of the intangible assets in the global economy coupled with expanding international intra-firm trade, has meant that transfer pricing issues concerning intangibles have assumed critical importance for both the Multi National Enterprises as well as Tax authorities. The identification, accounting & valuation of intangibles is a challenging and evolving field. This volume details the various such issues and concerns from both industry and revenue perspective. Further, the contemporary issues of digital economy, tax planning, BEPS, GAAR have also been extensively dealt with. Key features · Explains in detail the meaning of various types of intangibles as defined in Income Tax Act. · Discusses the various possible methodologies for valuing the intangibles including the typical and residual methods · Accounts for all the relevant changes suggested by the OECD in the BEPS Action Point 8-10 report regarding intangibles · Valuation of Highly Uncertain as well Hard-to-Value Intangibles · Relevant Features of and taxation challenges posed by Digital economy · Various possible techniques of Tax Planning adopted by the Multi-national Enterprises · All the BEPS Action Point Reports along with recommendations as adopted globally as well as in India including Thin Capitalisation, PoEM, Equalisation Levy, amended DTAAs with Mauritius, Cyprus & Singapore {Updated upto Finance Bill, 2017 (India)} · Transfer Pricing Aspects of CCAs, Intra-group Services & Business Restructuring including issue of indirect transfers · Discussion on General Anti Avoidance Rules, to be implemented in India from 01/04/2017 · Famous and important global and Indian case laws with regard to intangibles · Detailed discussion on issue of AMP expenses & marketing intangibles
A Guide to the Anti-Tax Avoidance Directive
Author: Werner HaslehnerPublisher: Edward Elgar Publishing
ISBN: 178990577X
Category : Law
Languages : en
Pages : 340
Book Description
This book provides a concise, practical guide to the European Union’s Anti-Tax Avoidance Directive (ATAD). Presenting unique insights into the ATAD’s five specific anti-avoidance rules, its chapters explain the background of those rules, the directive’s interactions with relevant jurisprudence, and the challenges posed to the ATAD’s interpretation and implementation in domestic law.
Tax Avoidance and the Law
Author: Selina KeesoonyPublisher: Taylor & Francis
ISBN: 1000598446
Category : Law
Languages : en
Pages : 210
Book Description
Tax Avoidance and the Law is a helpful guide for undergraduate and postgraduate students who want a thorough understanding of this dynamic area of law. The book is written in a way which is easy to follow and conveniently summarises complex case law on tax avoidance. Tax Avoidance and the Law explores the evolution of the UK’s General Anti- Abuse Rule. It provides a useful comparison with other Western jurisdictions’ anti-avoidance legislation, including the United States of America, Australia, New Zealand, South Africa, Canada and the EU. The underlying theme of the book rests on the notion that the taxpayer’s subjective motives, intentions or purposes are irrelevant when assessing tax liability. The book enables students to gain a good grasp of the fundamental issues in tax avoidance in a clear manner.
GAAR : an Economic Test? - The Courts Divide
Author: B.R. CarrPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
The authors of this article review the history and development of the general anti-avoidance rule (GAAR) in section 245 of the Income Tax Act (Canada), for the purpose of assisting in the analysis of recent decisions of the federal and provincial courts of appeal. They discuss the inherent difficulty in construing section 245 and outline various tests that the courts could have employed to interpret its provisions. The authors then review three of the four decisions in which the Supreme Court of Canada interpreted GAAR - Canada Trustco, Mathew, and Copthorne. With that background, the authors contrast the different approaches to the provincial general anti-avoidance rules taken, on the one hand, by the Alberta Court of Appeal in Husky Energy and Canada Safeway, the Ontario Court of Appeal in Inter-Leasing, and the BC Court of Appeal in Veracity, and, on the other hand, by the Quebec Court of Appeal in OGT Holdings and Iberville. They then compare and contrast those approaches with the pronouncements of the Supreme Court of Canada on how GAAR should be interpreted. The authors also discuss the approach taken by the Federal Court of Appeal in four recent GAAR decisions - Univar, Oxford Properties, 594710 British Columbia Ltd., and Birchcliff. They compare and contrast that approach with the approaches of the provincial courts, and consider whether the Federal Court of Appeal's approach is consistent with the Supreme Court of Canada's pronouncements on GAAR.