General Anti-Avoidance Rules (GAAR) - Second Edition

GAAR is a deep-rooted approach to identify and target structures adopted by taxpayers that skirt the lines of tax avoidance and focuses on substance over form. GAAR was first prescribed in the Finance Act 2012 and has now been implemented in the financial year 2017-18, thus giving time to taxpayers and regulators alike to come to terms with this radical change. All eyes look ahead as GAAR arrives at a time when a unified anti-abuse measure is required to target tax avoidance situations. It is one of the most pervasive tax concept that identifies the grey place between black and white in the form of tainted abuse tests and parameters. To grasp the important concepts revolving around GAAR and delve into the niceties of tax avoidance, this book explains the entire landscape of GAAR at one place. The implications and implementation of GAAR are unprecedented with a room for subjective and practical interpretations of various business cases. Therefore, this book provides a simplistic perspective on the current situation of the complex tax era that reaches the tax directors, CFOs, regulators, professionals, and researchers of taxation. Testimonial “A timely treatise on Indian GAAR law highlighting interpretational aspects, impact on structures given the recent amendments to Tax treaties & India's ambitious BEPS roll out – a must read for Tax professionals, policy makers & Tax administrators.” Mukesh Butani, Founder, BMR Legal “The coverage of issues is an invaluable contribution to the field of taxation.” P V Srinivasan, Corporate Advisor & Former Head of Taxation, Wipro “The book demystifies in clear simple language a complex piece of domestic legislation all ably put in the spotlight.This superbly written eye-opener illustrates, through the various pedagogical chapters, how GAAR both conceptually and practically is the most appropriate tool to address undesirable BEPS behaviours where the emphasis is on transparency and fair taxation.” Rajesh Sharma Ramloll, Senior Advocate and Deputy Solicitor General(Mauritius), President (IFA-Mauritius)