Asia Pacific Tax Notes

Want to know more about the General Anti-Avoidance Rule (GAAR) in the
Asia Pacific region?

• Some examples:

  
  

  Certainty of application,independent
  panel, safe harbour provisions,
  checks and balances ......

• GAARs in the region
  often require

  (1) identification of a scheme, an arrangement or a transaction;
  (2) quantification of a tax benefit and
  (3) application of the purpose test.

• - Penalties
  

  - Advisory GAAR panel

  - Burden of proof
  - Advance clearance

• Increasing prevalence of GAARs in the region
  means taxpayers should plan carefully for their
  international mergers and acquisitions, sophisticated
  group structuring arrangements and claims of
  treaty benefit.