The GAAR: where do we go from here?

Aug 2012 | Client publication/article

Steve Edge gives his view on why the time is right for the introduction of a limited scope GAAR of the type proposed.

Although there is an understandable concern that the GAAR could become a thorn in the flesh of corporate taxpayers - and there are aspects of the draft rules that one could certainly challenge - most corporates would now probably expect the GAAR to be something that controls abusive behaviour by others (particularly in the individual sector) but is never quoted against them. It is important that the advisory panel acts as a sense check in all parts of the GAAR process, and a commitment to review the GAAR at a fixed point in the future would be no bad thing.

This article was published in the 10 August 2012 edition of Tax Journal.


Steve Edge (partner)

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