A Comparative Look at Regulation of Corporate Tax Avoidance by Karen B. Brown

By Karen B. Brown

This quantity offers a desirable examine the anti-tax avoidance ideas hired via greater than fifteen international locations in jap and western Europe, Canada, the Pacific Rim, Asia, Africa, and the USA. It surveys the similarities and alterations in anti-avoidance regimes and comprises targeted chapters for every state surveying the ethical and felony dimensions of the problem.  The proliferation of tax avoidance schemes lately indications the worldwide dimensions of an issue providing a major problem to the potent management of tax legislation. Tax avoidance comprises unacceptable manipulation of the legislations to acquire a tax virtue. those transactions aid wasteful habit during which enterprises input into problematic, circuitous preparations exclusively to reduce tax legal responsibility. It frustrates the facility of governments to gather adequate profit to supply crucial public items and providers. Avoidance of duly enacted provisions (or manipulation to safe tax merits accidental by means of the legislature) poses a hazard to the potent operation of a unfastened society for the advantage of a small staff of individuals who search the privilege of moving their tax burden onto others in simple terms to compete on the planet of trade. In an international within which international treasuries fight for the assets to conflict terrorist threats and to safe an honest way of life for elements tax avoidance can carry economies on the subject of the sting of sustainability. As tax avoidance is among the most sensible issues of such a lot countries, the significance of this paintings can't be overstated. 

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Additional resources for A Comparative Look at Regulation of Corporate Tax Avoidance (Ius Gentium: Comparative Perspectives on Law and Justice) (English and French Edition)

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E. g. 100 98 Sub division 284-C, Taxation Administration Act 1953. Section 284-150, Taxation Administration Act 1953. 100 Section 284-215, Taxation Administration Act 1953. 101 It is – • 50% of the scheme shortfall amount: or • 25% of the scheme shortfall amount, if it is reasonably arguable that some part of the penalty should be remitted, because Part IVA does not apply. A matter is reasonably arguable, if it can be said that even if the position taken was wrong, it could be argued, on reasonable grounds, that it was right.

67 2 Australia 43 An examination of the approach of the High Court indicates that, in applying the statutory formula, the issues which are of prime importance are the form of the documentation and the manner in which the transaction is carried out. 70 This approach emerges clearly from the joint judgment of Gleeson CJ and McHugh J in Hart: Let it be assumed that . . even if the “wealth optimiser structure” had not been available [the taxpayers] would have borrowed the money to buy their new home and also borrowed money in order to retain their former home as an incomeearning investment.

142 62 M. Cashmere The Commissioner must bring proceedings within 4 years after the entity last engaged in conduct that resulted in it being a promoter of the targeted scheme. These time limits do not apply to evasion. There are some defences to this regime. An entity is not liable to the penalties if its conduct was due to: • a reasonable mistake of fact; or • the act or default of another entity (but not someone who was an employee or an agent of the entity when the alleged conduct took place); • an accident, or to some other cause beyond the entity’s control, provided the entity took reasonable precautions and exercised due diligence.

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