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General Anti Avoidance Rules Gaars A Key Element Of Tax Systems In The Post Beps Tax World The Uk Gaar
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Book Synopsis General Anti-Avoidance Rules (GAARs) - A Key Element of Tax Systems in the Post-BEPS Tax World? The UK GAAR. by : Judith Freedman
Download or read book General Anti-Avoidance Rules (GAARs) - A Key Element of Tax Systems in the Post-BEPS Tax World? The UK GAAR. written by Judith Freedman and published by . This book was released on 2016 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book chapter discusses the background to the UK General Anti-Avoidance Rule, analyses the wording of the legislation and looks at its relationship with double taxation treaties and EU and OECD developments.
Book Synopsis GAARs - a Key Element of Tax Systems in the Post-BEPS Tax World by : Michael Lang
Download or read book GAARs - a Key Element of Tax Systems in the Post-BEPS Tax World written by Michael Lang and published by . This book was released on 2016 with total page 840 pages. Available in PDF, EPUB and Kindle. Book excerpt: General anti-avoidance rules (GAARs) have been a topic of great relevance in practice as well as in academia for decades. In a post-BEPS tax world, with national legislators introducing or tightening GAARs, and with the European Union and OECD suggesting implementation of such rules, the topic seems more important than ever. The aim of this book is to give tax policymakers, tax authorities, tax courts and tax practitioners an idea of the various understandings of and approaches towards tax avoidance in 39 countries.
Book Synopsis General Anti-Avoidance Rules (GAARs) - A Key Element of Tax Systems in the Post-BEPS Tax World? The Netherlands by : Sigrid Hemels
Download or read book General Anti-Avoidance Rules (GAARs) - A Key Element of Tax Systems in the Post-BEPS Tax World? The Netherlands written by Sigrid Hemels and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the Netherlands statutory General Anti Avoidance Rule (GAAR), richtige heffing and the GAAR which was developed in case law: fraus legis. It also discusses the relation with special anti avoidance rules and with tax treaties and EU law. Finally the paper discusses alternatives to GAARs.
Book Synopsis General Anti-Avoidance Rules (GAARs) - A Key Element of Tax Systems in the Post-BEPS Tax World? Spanish Report by : Juan Zornoza
Download or read book General Anti-Avoidance Rules (GAARs) - A Key Element of Tax Systems in the Post-BEPS Tax World? Spanish Report written by Juan Zornoza and published by . This book was released on 2015 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the questionnaire provided by the organizers of the conference several questions are answered in relation to the Spanish GAAR.
Book Synopsis Introducing a General Anti-Avoidance Rule (GAAR) by : Mr.Christophe J Waerzeggers
Download or read book Introducing a General Anti-Avoidance Rule (GAAR) written by Mr.Christophe J Waerzeggers and published by International Monetary Fund. This book was released on 2016-01-31 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax avoidance continues to attract attention globally with strong support for tax law reform at all levels. This Tax Law IMF Technical Note focuses on some of the key design and drafting considerations of one specific legal instrument (being, a statutory general anti-avoidance rule (GAAR)) which is often considered by authorities to combat unacceptable tax avoidance practices. A GAAR is typically designed to strike down those otherwise lawful practices that are found to be carried out in a manner which undermines the intention of the tax law such as where a taxpayer has misused or abused that law. However, the objective of combating unacceptable tax avoidance can itself make the legal design of a GAAR complex. This is simply because the phrase “tax avoidance” means different things to different people. Whatever the form of a GAAR, it should give effect to a policy that seeks to strike down blatant, artificial or contrived arrangements which are tax driven. However, the GAAR should be designed and applied so as not to inhibit or impede ordinary commercial transactions. This Tax Law IMF Technical Note discusses and explores how drawing a line between those arrangements which should be caught by the GAAR is a matter of degree and can be delicate.
Book Synopsis The General Anti-avoidance Rule : Its Expanding Role in International Taxation by : J.D. Rolim
Download or read book The General Anti-avoidance Rule : Its Expanding Role in International Taxation written by J.D. Rolim and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article discusses the role of and main justifications for general anti-avoidance rules (GAARs) in international taxation. It analyses whether or not a GAAR may be regarded as an international general principle of law taking into account the latest developments within international organizations, including some international courts, and domestic jurisdictions, and the OECD base erosion and profit shifting (BEPS) project. It also argues what type of GAAR or specific rules would fit more properly as a legal tool to counteract tax avoidance and its consequences.
Book Synopsis The Dynamics of Taxation by : Glen Loutzenhiser
Download or read book The Dynamics of Taxation written by Glen Loutzenhiser and published by Bloomsbury Publishing. This book was released on 2020-10-15 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together a landmark collection of essays on tax law and policy to celebrate the legacy of Professor Judith Freedman. It focuses on the four areas of taxation scholarship to which she made her most notable contributions: taxation of SMEs and individuals, tax avoidance, tax administration, and taxpayers' rights and procedures. Professor Freedman has been a major driving force behind the development of tax law and policy scholarship, not only in the UK, but worldwide. The strength and diversity of the contributors to this book highlight the breadth of Professor Freedman's impact within tax scholarship. The list encompasses some of the most renowned taxation experts worldwide; they include lawyers, economists, academics and practitioners, from Britain, Canada, Portugal, Australia, Germany, Italy, Malta, Ireland, and Ukraine.
Book Synopsis Taxation of Derivatives and Cryptoassets by : Oktavia Weidmann
Download or read book Taxation of Derivatives and Cryptoassets written by Oktavia Weidmann and published by Kluwer Law International B.V.. This book was released on 2024-06-10 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Derivatives stand at the forefront of financial innovation, continually evolving to accommodate new asset classes and risk categories. In the past decade, the growing popularity of cryptoassets and ESG investments has sparked the development of a variety of innovative investment strategies and risk management tools, including crypto and ESG derivatives and related structured products. This new edition has similarly evolved. Using illustrative examples, it provides a comprehensive analysis of the key tax issues associated with derivatives and cryptoassets in domestic and cross-border transactions and presents approaches that tax legislators could adopt to solve them. The new edition also comments on recent trends in global tax policy, such as the OECD Base Erosion and Profit Shifting (BEPS) 1.0 and 2.0 projects. Throughout the book, specific references are made to UK, German, and Swiss tax law. The updated edition addresses the following topics: economic and financial properties of derivatives and cryptoassets; definition of derivatives for tax purposes and its application to crypto derivatives and ESG derivatives, among others; accounting treatment of derivatives and cryptoassets under IFRS, UK, German and US GAAP; current tax legislation and policy alternatives to the taxation of derivatives and cryptoassets; characterisation of derivatives gains and losses as income or capital, and equity or debt; accounting and taxation treatment of hedging transactions involving derivatives or cryptoassets; accounting and taxation rules applying to structured products and hybrid instruments, including crypto and ESG-linked structured products; withholding taxes on derivatives and the concept of beneficial ownership in domestic and cross-border transactions; and anti-avoidance legislation applying to derivatives and cryptoassets, including the domestic law implementation of BEPS Action 2, the EU Anti-Tax Avoidance Directives (ATAD I and II), the tax transparency rules for cryptoassets (DAC8) and Pillar Two. This comprehensive book analyses recent developments in three intertwined areas of expertise: financial products, accounting and tax law. It will be a valuable resource to tax professionals in their daily practice of advising companies, banks and investment funds. It will also be of interest to government officials and researchers engaged in the taxation of derivatives, cryptoassets, and ESG investment products.
Book Synopsis Anti-Abuse Rules and Tax Treaties by : Georg Kofler et al.
Download or read book Anti-Abuse Rules and Tax Treaties written by Georg Kofler et al. and published by Kluwer Law International B.V.. This book was released on 2024-06-24 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the struggle to combat tax abuse and tax avoidance gains momentum, ways of making a tax jurisdiction ‘manipulation-proof’ continue to proliferate, from new or revised provisions in model tax treaties to a dramatic increase in the number and variety of anti-abuse and anti-avoidance rules at all levels of government. These measures interact with national tax systems, general anti-abuse clauses and tax treaties. The conflicts and other legal difficulties that inevitably result deserve intensive scrutiny. This book provides an in-depth analysis of current issues concerning the relations of various anti-abuse rules to each other and their impact on the application of tax treaties. The topics include the following: domestic general anti-avoidance rules (GAARs); domestic specific anti-avoidance rules (SAARs) (including controlled foreign company rules); minimum holding periods; indirect transfers of immovable property, shares, and rights; limitation on benefits; residence criteria in tax treaties; tax treatment of sportspersons and entertainers; the principal purpose test of Article 29 (9) OECD Model (2017); and influence of European Union Law on tax treaty abuse. The chapters are revised and expanded versions of papers presented at the 30th Viennese Symposium on International Tax Law held on 12 June 2023 at Vienna University of Economics and Business. Each author offers an in-depth analysis of a particular topic, drawing on the most recent scientific research. This is the only book available to offer such a wide-ranging, detailed, and practical analysis of how the full range of anti-abuse rules interacts with tax treaties. It will prove of immeasurable value to practitioners and law firms active in tax planning, tax consultants, academics and researchers in international tax law and counsel for companies involved in international business.
Author :Pablo A Hernández González-Barreda Publisher :Bloomsbury Publishing ISBN 13 :150992308X Total Pages :429 pages Book Rating :4.5/5 (99 download)
Book Synopsis Beneficial Ownership in Tax Law and Tax Treaties by : Pablo A Hernández González-Barreda
Download or read book Beneficial Ownership in Tax Law and Tax Treaties written by Pablo A Hernández González-Barreda and published by Bloomsbury Publishing. This book was released on 2020-05-28 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the concept of beneficial ownership in equity law, the domestic tax laws of the United Kingdom, Canada and the United States, as well as its varied and increasing uses in international tax law. By analysing the evolution of beneficiary rights in equity and the use of beneficial ownership wording in tax law, the book draws a roadmap for dealing with beneficial ownership in both national and international tax law. This approach highlights those common misconceptions that can be avoided by understanding the origins of the concept and its engagement with equity, as well as the differences with tax law. However, the book does not limit itself to dealing with theoretical discussion, but also offers an instructive and detailed practical case study. Offering both academic commentary and a practitioner focus, the book will be of the utmost interest to scholars and practitioners from common and civil law countries dealing with tax and estate law, particularly given beneficial ownership's increasing relevance.
Book Synopsis General Anti-Avoidance Rules Revisited by : David G. Duff
Download or read book General Anti-Avoidance Rules Revisited written by David G. Duff and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In addition to the requirement of a tax benefit or advantage, the application of most modern general anti-avoidance rules turns on two elements: a so-called "subjective element" which considers the purpose for which the transaction or arrangement resulting in the tax benefit or advantage was undertaken or arranged; and an "objective element" which considers the object or purpose of the relevant provisions to determine if the tax benefit resulting from the transaction or arrangement is or is not consistent with this object or purpose.Although these two elements are present in most modern GAARs, the function of each element within these rules and the relationship between them is often poorly understood. Other unresolved issues concern the roles of artificiality and economic substance in the application of these rules, and the relationship, if any, between these concepts and the "subjective" and "objectives" elements of the rules. A final set of issues involves the uncertainty that GAARs may engender, the ability of judges to apply these rules and principles in a coherent and consistent manner, and the compatibility of these rules and principles with the rule of law.This essay addresses these issues by reflecting on Tim Edgar's article “Building a Better GAAR”. Part 1I considers the rationale for a general anti-avoidance rule or principle, arguing that it not only represents a useful policy response to the harmful consequences of tax avoidance (the consequentialist argument that Professor Edgar espoused), but that it may also be justified on the non-consequentialist grounds that it protects the integrity of the provisions at issue and thereby upholds the rule of law. Part III builds on this analysis to consider the design of a general anti-avoidance rule or principle, arguing that it should be codified in the form of an explicit rule, should include subjective and objective elements like the purpose and misuse or abuse requirements in the Canadian GAAR, and should be informed by concepts of artificiality and economic substance which apply respectively to the subjective and objective elements of the rule. Part IV concludes.
Book Synopsis General Anti-avoidance Rules for Major Developing Countries by : Paulo Rosenblatt
Download or read book General Anti-avoidance Rules for Major Developing Countries written by Paulo Rosenblatt and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes anti-avoidance issues in three major developing nations (India, Brazil, and South Africa) and analyses all relevant case law pertaining to relatively successful general anti-avoidance rules (GAARs) in such developed jurisdictions as the UK, Australia, Canada, New Zealand, Hong Kong, France and Spain. It is based on analysis of more than 100 cases and over 500 legal references, as well as statutory legislation and administrative guidelines. The book shows why developing countries need their own tailor-made anti-avoidance systems, and it describes the features of GAARs relevant to developing countries, including the fastest routes, the paths that require caution and the directions to avoid.
Book Synopsis Tax and Government in the 21st Century by : Miranda Stewart
Download or read book Tax and Government in the 21st Century written by Miranda Stewart and published by Cambridge University Press. This book was released on 2022-09-08 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: With an accessible style and clear structure, Miranda Stewart explains how taxation finances government in the twenty-first century, exploring tax law in its historical, economic, and social context. Today, democratic tax states face an array of challenges, including the changing nature of work, the digitalisation and globalisation of the economy, and rebuilding after the fiscal crisis of the COVID-19 pandemic. Stewart demonstrates the centrality of taxation for government budgets and explains key tax principles of equity, efficiency and administration. Presenting examples from a wide range of jurisdictions and international developments, Stewart shows how tax policy and law operate in our everyday lives, ranging from family and working life to taxing multinational enterprises in the global digital economy. Employing an interdisciplinary approach to the history and future of taxation law and policy, this is a valuable resource for legal scholars, practitioners and policy makers.
Book Synopsis General Anti-Avoidance Rules Revisited : Reflections on Tim Edgar's "Building a Better GAAR". by : D.G. Duff
Download or read book General Anti-Avoidance Rules Revisited : Reflections on Tim Edgar's "Building a Better GAAR". written by D.G. Duff and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In addition to the requirement of a tax benefit or advantage, the application of most modern general anti-avoidance rules (GAARs) turns on two elements: a "subjective element", which considers the purpose for which the transaction or arrangement resulting in the tax benefit or advantage was undertaken or arranged; and an "objective element", which considers the object or purpose of the relevant provisions to determine whether the tax benefit resulting from the transaction or arrangement is consistent with this object or purpose. Although these two elements are present in most modern GAARs, the function of each element within these rules and the relationship between them are often poorly understood. Other unresolved issues concern the roles of artificiality and economic substance in the application of these rules, and the relationship, if any, between these concepts and the "subjective" and "objective" elements of the rules. A final set of issues involves the uncertainty that GAARs may engender, the ability of judges to apply these rules and principles in a coherent and consistent manner, and the compatibility of these rules and principles with the rule of law. The author addresses these issues by reflecting on Tim Edgar's article "Building a Better GAAR". The first part of the paper considers the rationale for a general antiavoidance rule or principle, arguing that such a rule not only represents a useful policy response to the harmful consequences of tax avoidance (the consequentialist argument that Professor Edgar espoused), but also may be justified on the non-consequentialist grounds that it protects the integrity of the provisions at issue and thereby upholds the rule of law. In the second part of the paper, the author builds on this analysis to consider the design of a general anti-avoidance rule or principle, arguing that it should be codified in the form of an explicit rule, should include subjective and objective elements such as the "purpose" and "misuse or abuse" requirements in the Canadian GAAR, and should be informed by concepts of artificiality and economic substance that apply to, respectively, the subjective and objective elements of the rule.
Book Synopsis Tax Avoidance by : Rebecca Murray (Barrister)
Download or read book Tax Avoidance written by Rebecca Murray (Barrister) and published by . This book was released on 2013 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text draws together in one source all matters concerning UK tax avoidance. It covers all UK taxes, direct and indirect, discussing the relevant legislation and case law for each one.
Book Synopsis Taxation History, Theory, Law and Administration by : Parthasarathi Shome
Download or read book Taxation History, Theory, Law and Administration written by Parthasarathi Shome and published by Springer Nature. This book was released on 2021-04-09 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax practitioners are unfamiliar with tax theory. Tax economists remain unfamiliar with tax law and tax administration. Most textbooks relate mainly to the US, UK or European experiences. Students in emerging economies remain unfamiliar with their own taxation history. This textbook fills those gaps. It covers the concept of taxes in regards to their rationale, principles, design, and common errors. It addresses distortions in consumer choices and production decisions caused by tax and redressals. The main principles of taxation—efficiency, equity, stabilization, revenue productivity, administrative feasibility, international neutrality—are presented and discussed. The efficiency principle requires the minimisation of distortions in the market caused by tax. Equity in taxation is another principle that is maintained through progressivity in the tax structure. Similarly, other principles have their own ramifications that are also addressed. A country’s constitutional specification of tax assignment to different levels of government—central, state, municipal—are elaborated. The UK is more centralised than the US and India. India has amended its constitution to introduce a goods and services tax (GST) covering both central and state governments. Drafting of tax law is crucial for clarity and this aspect is addressed. Furthermore, the author illustrates different types of taxes such as individual income tax, corporate income tax, wealth tax, retail sales/value added/goods and services tax, selective excises, property tax, minimum taxes such as the minimum alternate tax (MAT), cash-flow tax, financial transactions tax, fringe benefits tax, customs duties and export taxes, environment tax and global carbon tax, and user charges. An emerging concern regarding the inadequacy of international taxation of multinational corporations is covered in some detail. Structural aspects of tax administration are given particular attention.
Book Synopsis Towards a Neutral Formulary Apportionment System in Regional Integration by : Shu-Chien Chen
Download or read book Towards a Neutral Formulary Apportionment System in Regional Integration written by Shu-Chien Chen and published by Kluwer Law International B.V.. This book was released on 2023-03-09 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: International tax regimes and practices are heavily criticized for failing to fairly levy corporate tax on giant multinational taxpayers in the current globalized and digitalized world. This important and far-seeing book demonstrates how formulary apportionment (FA) – an approach by which a multinational corporation pays each jurisdiction’s corporate tax based on the share of its worldwide income allocated to that jurisdiction – can achieve the much-sought goal of aligning value creation and taxation. The author, through an intensive analysis of the European Union’s (EU’s) Common Consolidated Corporate Tax Base (CCCTB) Directive Proposal(s) and comparison to the United States (US’s) formulary apportionment experience, shows how the perceived problems with an FA system can be overcome and lays out the necessary elements for its feasibility. With detailed attention to the debates around formulary apportionment and its theoretical foundations, the book provides a blueprint for rebuilding the normative framework for the EU’s tax reform by clearly analysing the implications of the following and more: theorising public benefits to be represented by taxation; reorganising different economic theories about tax neutrality and tax justice; advancing the comparative legal research methodology to analyse law reform by combining the functional approach and the problem-solving approach; designing the logical formulary apportionment system for digital economy; ensuring the removal of the incentive for multinationals to shift reported income to low-tax locations; reducing the tax system’s complexity and the administrative burden it imposes on firms; eliminating transfer pricing complexity for intra-firm transactions; achieving equal weighting of the sales factor, the labour factor, and the asset factor in the formula; application of ‘destination-based’ rule for attributing the sales factor; and replacing the traditional permanent establishment nexus with a ‘factor presence nexus’. The presentation incorporates extensive comparison between the EU’s formulary apportionment tax reform option and FA systems existing in the United States (US) at state level, including reference to relevant US case law and legislation. As a possible option to address the problem of base erosion and profit shifting (BEPS), formulary apportionment is gaining increasing acceptance and attention. This book will prove invaluable to taxation authorities, tax practitioners, and scholars in its deeply informed and systematic guidance on good practices and prevention of problematic experiences in establishing and implementing an effective and market-neutral FA system.
