which is not a requirement for the general anti-avoidance rule to apply ?

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which is not a requirement for the general anti-avoidance rule to apply ?

Out of the following options, the one that is NOT a requirement for the general anti-avoidance rule (GAAR) to apply is:

• There must be a deliberate ignoring of the law.

Here’s why the other options are requirements for GAAR to apply:

• There was no bona fide non-tax purpose for the transaction: GAAR targets transactions that are primarily set up to avoid taxes, not for any legitimate business reason.
• Misuse or abuse of the law in that the result is not in the object or spirit of the law: This means the transaction exploits a loophole or contradicts the intended purpose of the tax law.

Deliberate ignoring might be a factor considered in applying GAAR, but it’s not the sole or even the most crucial factor. The key concept is that GAAR targets transactions designed to avoid taxes even if they comply with technical aspects of the law.

Here are some links that might be useful to you:

https://www.imf.org/external/pubs/ft/tltn/2016/tltn1601.pdf

https://www.imf.org/external/pubs/ft/tltn/2016/tltn1601.pdf
PDF Introducing a General Anti-avoidance Rule (Gaar) – Imf
Many jurisdictions have adopted a general anti-avoidance rule (GAAR) while others are considering the introduction of one or are otherwise seeking to fine-tune their existing rule. Countries with a GAAR include the UK, France, Germany, The Netherlands, Belgium, Canada, China, Singapore, Italy, South Africa, Kenya and Australia. The

https://tax.thomsonreuters.com/blog/what-are-general-anti-avoidance-rules

https://tax.thomsonreuters.com/blog/what-are-general-anti-avoidance-rules
What are general anti-avoidance rules?
20 févr. 2024In 2013, the UK introduced its general anti-abuse rule to counteract abusive tax avoidance schemes. The rule gives the HM Revenue & Customs (HMRC) power to thwart tax abuse and recover lost revenues by adjusting or issuing assessments or amending or denying claims. HMRC must be able to prove that the tax arrangements in question are, in fact …

https://www.un.org / esa / ffd / wp-content / uploads / 2017 / 11 / 2017TB_08_GAARs_D3_1_Role-of-GAAR.pdf

https://www.un.org / esa / ffd / wp-content / uploads / 2017 / 11 / 2017TB_08_GAARs_D3_1_Role-of-GAAR.pdf
PDF 8 Thursday – Session 1 (Role and features of GAAR)
General Anti-Avoidance Rule. Unlike specific anti-avoidance rules, a GAAR is intended to apply to all types of transactions and arrangements, all types of taxpayers, all types of taxes (PIT, CIT …

https://www.chegg.com/homework-help/questions-and-answers/requirement-general-anti-avoidance-rule-apply-bona-fide-non-tax-purpose-transaction-misuse-q59617482

https://www.chegg.com/homework-help/questions-and-answers/requirement-general-anti-avoidance-rule-apply-bona-fide-non-tax-purpose-transaction-misuse-q59617482
Solved Which is not a requirement for the General | Chegg.com
Accounting questions and answers. Which is not a requirement for the General Anti-Avoidance Rule to apply: There was no bona fide non-tax purpose for the transaction There was misuse or abuse of the law in that the result is not in the object or spirit of the law There was a deliberate ignoring of the law There must be .

https://moodystax.com/wp-content/uploads/kenneth_2018CR14-Dolson-etal.pdf

https://moodystax.com/wp-content/uploads/kenneth_2018CR14-Dolson-etal.pdf
PDF A Modern Overview of Specific Anti-Avoidance Rules – Moodys Tax
Abstract. The application of, and circumvention of, specific anti-avoidance rules (SAARs) are significant matters for tax practitioners, tax administrators, and the courts. This paper reviews how SAARs are drafted and interpreted, and examines the framework for the application of the general anti-avoidance in matters involving SAARs.

https://www.sataxguide.co.za/general-anti-avoidance-rule-gaar

General anti-avoidance rule (GAAR)

General anti-avoidance rule (GAAR) – South African Tax Guide
The general anti-avoidance rule can be applied if an avoidance arrangement (in other words, an arrangement that results in a tax benefit) is an impermissible avoidance arrangement. An impermissible avoidance arrangement arises if: • the sole or main purpose of the avoidance arrangement was to obtain a tax benefit (it is always presumed …

https://www.dentons.com/en/insights/alerts/2023/august/31/strengthening-the-general-anti-avoidance-rule

https://www.dentons.com/en/insights/alerts/2023/august/31/strengthening-the-general-anti-avoidance-rule
Strengthening the general anti-avoidance rule: What taxpayers … – Dentons
31 août 2023On August 4, 2023, the Department of Finance released draft legislation containing the most substantial overhaul of the general anti-avoidance rule (the GAAR) since its inception.The GAAR is aimed at thwarting abusive tax planning, particularly in cases where the technical requirements of the tax have been satisfied but the tax planning is contrary to the policy underlying the .

https://taxguru.in/income-tax/understanding-basics-general-anti-avoidance-rule-gaar.html

https://taxguru.in/income-tax/understanding-basics-general-anti-avoidance-rule-gaar.html
Understanding basics of General Anti-Avoidance Rule (GAAR) – Tax Guru
The General Anti-Avoidance Rule (GAAR) is an anti-tax avoidance law in India to curb tax evasion and avoid tax leaks. It came into effect on 1st April 2017. The GAAR provisions come under the Income Tax Act, 1961. GAAR is a tool for checking aggressive tax planning especially that transaction or business arrangement which /are entered into …

https://www.imf.org/en/Publications/Tax-Law-Technical-Note/Issues/2016/12/31/Introducing-a-General-Anti-Avoidance-Rule-GAAR-Ensuring-That-a-GAAR-Achieves-Its-Purpose-43662

https://www.imf.org/en/Publications/Tax-Law-Technical-Note/Issues/2016/12/31/Introducing-a-General-Anti-Avoidance-Rule-GAAR-Ensuring-That-a-GAAR-Achieves-Its-Purpose-43662
Introducing a General Anti-Avoidance Rule (GAAR): Ensuring That a GAAR …
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 practices.

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/ic88-2/general-anti-avoidance-rule-section-245-income-tax-act.html

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/ic88-2/general-anti-avoidance-rule-section-245-income-tax-act.html
General Anti-Avoidance Rule – Section 245 of the I.T – Canada.ca
IC. GENERAL ANTI-AVOIDANCE RULE SECTION 245 OF THE INCOME TAX ACT. IC88-2 October 21, 1988. 1. The purpose of this circular is to provide guidance with respect to the application of the general anti-avoidance rule, section 245 of the Income Tax Act (the Act). This rule applies with respect to transactions entered into after Royal Assent is …
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