Download or read book The Role of Economic Substance in Tax Avoidance Cases written by Robert McMechan and published by . This book was released on 2012 with total page 886 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Substance and Tax Avoidance written by Robert McMechan and published by . This book was released on 2013 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Misuse Or Abuse Exception written by Jinyan Li and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “misuse or abuse” exception under subsection 245(4) of the Income Tax Act draws the line between acceptable and unacceptable tax avoidance. As a “safety valve” or “'relieving provision', this exception has proved to be the 'most crucial and controversial single factor in the application of the GAAR.". Whether a transaction that lacks economic substance is subject to the general anti-avoidance rule (GAAR) is the question considered in this chapter.
Download or read book The Routledge Companion to Tax Avoidance Research written by Nigar Hashimzade and published by Routledge. This book was released on 2017-10-02 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inherently interdisciplinary subject, tax avoidance has attracted growing interest of scholars in many fields. No longer limited to law and accounting, research increasingly has been conducted from other perspectives, such as anthropology, business ethics, corporate social responsibility, and economic psychology. This was –recently stimulated by politicians, mass media, and the public focussing on tax avoidance after the global financial and economic crisis put a squeeze on private and public finances. New challenges were posed by changing definitions and controversies in the interpretation of tax avoidance concept, as well as a host of new rules and policies that need to be fully understood. This collection provides a comprehensive guide to students and academics on the subjects of tax avoidance from an interdisciplinary perspective, exploring the areas of accounting, law, economics, psychology, and sociology. It covers global as well as regional issues, presents a discussion of the definition, legality, morality, and psychology of tax avoidance, and provides guidance on measurement of economic effect of tax avoidance activities. With a truly international selection of authors from the UK, North America, Africa, Asia, Australasia, Middle East, and continental Europe, with well-known experts and rising stars of the field, the contributors cover the entire terrain of this important topic. The Routledge Companion to Tax Avoidance Research is a ground-breaking attempt to bring together scholarly research in tax avoidance, offering rigorous academic analysis of an important and hotly debated issue in a structured and balanced way.
Download or read book The Economics of Tax Avoidance and Evasion written by Dhammika Dharmapala and published by Edward Elgar Publishing. This book was released on 2017-04-28 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax compliance issues enjoy an unprecedented degree of public attention today and are of great importance to governments and policymaking. This single volume provides an overview of some of the most significant contributions to the economic analysis of tax avoidance and evasion and also sheds light on broader questions of social organization, behaviour, and compliance with the law. With an original introduction by the editor, this insightful book provides researchers and students with a guide to the fundamental intellectual developments that have shaped the economic understanding of tax avoidance and evasion, along with a framework for placing these contributions in their intellectual context.
Download or read book Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compensation Issues and Policy Recommendations written by and published by Joint Committee. This book was released on 2003 with total page 756 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Economic Analysis of Anti Tax Avoidance Doctrines written by David A. Weisbach and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article analyzes the effect of tax law doctrines designed to reduce tax shelters, such as the business-purpose doctrine, and the economic-substance doctrine. The article analyzes these doctrines as changes to the marginal elasticity of taxable income. As these doctrines are strengthened, the elasticity of taxable income goes down (in absolute value). By reducing the marginal elasticity of taxable income, the doctrines increase the efficiency of the tax system. Because the doctrines cannot perfectly identify tax avoidance, however, they induce a distortionary response by taxpayers, who may structure shelters to avoid the doctrines. This distortionary effect reduces their efficiency. The net benefit should be set equal on the margin to the marginal administrative cost of the doctrines.
Download or read book Tax Avoision written by Alfred Roman Ilersic and published by . This book was released on 1979 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: A series of essays about tax avoidance and evasion written in 1979.
Download or read book W h ither Economic Substance written by Leandra Lederman and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abusive transactions that claim inappropriate tax benefits are a perennial problem, but they are particularly distressing in a weak economy. When the IRS claims a transaction is abusive, courts generally examine whether the taxpayer had a business purpose and whether the transaction had economic substance (essentially a prospect of profit before taxes). This two-pronged economic substance doctrine developed from a series of Supreme Court cases. Courts do not apply the doctrine consistently, however, so the prospect of codifying the doctrine as a revenue-raiser is very much on the table. Unfortunately, the economic substance doctrine provides a poor proxy for the real question, which was applied in early Supreme Court cases - whether the claimed tax results are consistent with Congress's intent. One important drawback of the shift from a focus on congressional intent to a focus on the taxpayer's intent and the prospect of pre-tax profit is a doctrine that is much easier for taxpayers to manipulate. The result is a test that does little to distinguish tax shelters and other abusive transactions from legitimate ones. The Article therefore argues that modern economic substance doctrine should be abandoned and replaced with a direct inquiry into congressional intent. The Article does not focus on how such an inquiry into congressional intent should be incorporated into tax disputes; others have addressed that issue from a variety of perspectives. Rather, the Article examines why courts today generally do not perform this vital inquiry in cases of claimed abuse of the tax laws, and explains why they should. In developing this argument, the Article explains that identifying abusive transactions is so difficult largely because some tax statutes merely try to measure income while others try to provide an incentive for particular behavior. Identifying which goal is operative in a particular provision requires ascertaining congressional intent. The Article traces the development of the economic substance doctrine to pinpoint when it shifted its focus away from congressional intent. It also critiques the subjective and objective prongs of the existing doctrine, showing how they can be exploited to allow abusive transactions to stand simply because they are bundled with business activity.
Download or read book The Economics of International Tax Avoidance Political Power Vs Economic Law written by Barry Bracewell-Milnes and published by Springer. This book was released on 1980-12-15 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph analyses the conditions in which gains or losses from international tax avoidance are more or less likely for the avoiding taxpayer, the rest of the taxpaying community and the tax authorities at home and abroad and names the countries whose tax systems render them most exposed to these gains and losses. The conclusion is that national governments and intergovernmental organisations seeking to suppress international tax avoidance may do more harm than good to the tax revenues as well as to the taxpaying communitites of the countries concerned, especially if the avoidance is formal rather than substantial in character, and that all measures against international tax avoidance should be supported by an economic estimate of the gains and losses from avoidance and the losses and gains from its suppression.
Download or read book Tax Avoidance Tax Evasion written by and published by . This book was released on 1982 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis of the different approaches adopted by the tax authorities of the principal, developed countries.
Download or read book Belastingontwijking en de EG Verdragvrijheden written by Dennis Weber and published by Kluwer Law International B.V.. This book was released on 2005-01-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique book investigates the extent tot which a taxpayer may invoke the freedom of movement within the Community in order to avoid national direct taxes. A Member State's right to protect its taxing authority and tax jurisdiction may collide with a Union citizen's right to free movement under Community law. The author shows what at the national level is viewed as abuse may often be viewed from an EC law perspective as invoking the Treaty freedoms. As his starting point, the author describes relevant Community law as it stands at present, whereby Member States are exclusively authorized to determine the types, tax bases, rates, and procedural aspects of direct taxes. He goes on to examine the possibilities offered by primary EC law to cross-border taxpayers who seek to avoid tax, basing his presentation on an in-depth analysis of the tax and non-tax case law of the Court of Justice of the European Communities. Among the issues raised in the course of the analysis are the following: applicability of each of the freedoms of the citizen, of goods, of workers, of establishment, of services, and of capital;tests entailed by Community law: the economic activity test, the artificiality test, and the substance test;the extent to which holding and letterbox companies may invoke the freedom of movement; andthe fiscal cohesion justification. The author describes the implicit concept of avoidance that the Court apparently uses by examining its tax and non-tax decisions in avoidance-like cases, thus offering a valuable discussion of whether the anti-abuse doctrine development by the Court is a principle of Community law. In its thorough investigation of a major current manifestation of the emblematic conflict between state taxing authority and personal freedom, this thoughtful and well-researched analysis will be of great value to tax professionals, officials, and academics not only on Europe but wherever this fundamental problem in tax law applies.
Download or read book Legislative and Regulatory Responses to Tax Avoidance written by Erik M. Jensen and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article examines statutory and regulatory developments in American anti-avoidance law. After a look at the nature of tax shelters -- with that concept defined broadly for these purposes -- the article examines and evaluates several methods of dealing with them: enacting statutes or promulgating regulations aimed at particular abusive transactions; enacting “outcomes-oriented” legislation, like the passive activity loss rules, intended to deal with wider patterns of behavior; codifying the economic substance doctrine; imposing anti-abuse doctrines through regulations; requiring disclosure of potentially abusive transactions; and creating national standards that govern advice provided by tax professionals. The article unexcitingly concludes that no one method will by itself bring abusive behavior to acceptable levels. Flexibility is going to work better than rigidity in attacking shelters, and a combination of methods will work better than a single one.
Download or read book The US Legislative and Regulatory Approach to Tax Avoidance written by Erik M. Jensen and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay, in a volume honoring the distinguished British tax scholar John Tiley, examines statutory and regulatory developments that are changing American anti-avoidance law. After a look at the nature of tax shelters, the essay discusses several statutory and regulatory methods of dealing with them: statutes or regulations aimed at particular problems of abuse; "outcomes-oriented" legislation intended to deal with wider patterns of behavior; codification of an "economic substance" or other general anti-avoidance doctrine; imposition of anti-abuse doctrines through regulations; disclosure of potentially abusive transactions; and creation of national standards that govern tax professionals' advice. The essay concludes that no one method will by itself bring abusive behavior to acceptable levels, even temporarily. Flexibility is going to work better than rigidity in attacking shelters, and a combination of methods will work better than a single one.
Download or read book Tax Avoidance as a Legitimate Business Purpose written by Karen C. Burke and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Countryside Limited Partnership v. Commissioner, T.C. Memo 2008-3, the government challenged a purportedly tax-free distribution of nonmarketable securities to partners who wished to withdraw from a real estate partnership shortly before sale of the partnership's depreciated real property. By manipulating the partnership basis adjustment provisions, the Countryside transaction sought to shift and duplicate basis, while potentially deferring indefinitely the withdrawing partners' gain from the real property. Surprisingly, without addressing the larger Countryside transaction, The Tax Court held that the withdrawing partners recognized no gain on the deemed distribution of securities; in granting partial summary judgment on the issue of gain recognition under I.R.C. § 731, the court found that the transaction was imbued with economic substance and was not inconsistent with the intent of Subchapter K. This article discusses the transaction in a manner that is (hopefully) accessible to readers who are not steeped in Subchapter K. It suggests several alternative ways in which the transaction could be recharacterized to clearly reflect income under traditional judicial doctrines and, specifically, the partnership anti-abuse rule. Unfortunately, the Tax Court failed to send a clear message that such transactions do not work, thereby undermining the effectiveness of the partnership anti-abuse rule. The article suggests that the Countryside decision facilitates massive avoidance of the statutory 25% rate on gain from depreciated real property, and proposes that Congress amend the partnership distribution rules to prevent shifting of basis from capital assets to depreciable real property.
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.
Download or read book Tax Avoidance the Balanced Allocation of Taxing Powers and the Arm s Length Standard written by Violeta Ruiz Almendral and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ECJ doctrine links the justification of tax avoidance to the balanced allocation of tax powers and the arm's length standard. This link poses a number of new issues, among other, these three questions: what notion of “arm's length standard” is the ECJ dealing with; can there be a permanent link between the “arm's length standard” and tax avoidance; and: is the balanced allocation of tax powers not a previous issue? Furthermore, old issues remain to a certain extent unresolved: (i) Is there one anti-avoidance doctrine? (ii) what is that doctrine based on? Is it based on (a) the notion of artificiality (not just sham transactions) and economic substance? (b) is there an asymmetric application of the doctrine depending on whether or not the area to which it intends to be applied has been harmonized; (c) is it based or departs from a given allocation of tax powers. Finally (iii) what consequences on the internal law of Member States does the case law have? especially considering different scenarios: (a) when there is no anti-avoidance rule; (b) when there is a General anti-avoidance rule or judicial doctrine; (c) when there is a Targeted anti-avoidance rule and (d) whether such a rule is independent, harmonized, or based on a DTC.
