sábado, 15 de octubre de 2016

Recent global developments in general anti-avoidance rules

General anti-avoidance rules (GAARs) continue to play a pivotal role in tax regimes around the world as a safeguard intended to thwart incidents of tax avoidance.  While differing in various aspects, the tax laws of many countries have adopted generally similar principles to empower revenue authorities to deny taxpayers the benefits sought for arrangements deemed to have an impermissible tax-related purpose.

In the link below PwC examine key legislative, judicial, and administrative developments with respect to GAARs that are operative, or soon to be operative, across a number of jurisdictions, in particular:

  • Australia
  • Canada
  • China
  • European Union (EU)
  • India 
  • The Netherlands
  • New Zealand
  • Poland
  • United Kingdom (UK)
  • United States of America (US). 

Although some of these regimes have been in place for a considerable length of time, uncertainty persists in relation to the scope of the GAAR’s application, interaction with specific anti-avoidance rules (SAARs), and application in a treaty context. This uncertainty presents significant difficulties for taxpayers seeking to obtain assurance on the appropriateness of their filing positions and creates substantial risk with respect to the potential for future adjustments and associated penalties in the event of later challenge.

With the advent of the OECD’s Base Erosion and Profit Shifting (BEPS) project and the increased desire of governments to curtail the erosion of their domestic tax base, GAARs are set to play an even greater role in future compliance enforcement. The OECD has vigorously advocated the need for expanding the prevalence and application of legislative GAARs to address avoidance behaviors in a treaty context. This, in turn, has led to the EU calling for member states to uniformly adopt a minimum standard domestic GAAR as part of a raft of proposals aimed at tax
avoidance.

Source & more info: PwC

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