Hallmarks of Abusive Transactions and the Role of Economic Substance: Comments on Modernizing and Strengthening the General Anti-Avoidance Rule Consultation Paper
25 Pages Posted: 9 Sep 2022
Date Written: August 24, 2022
Abstract
I support the initiative to revisit the GAAR for purposes of making it more effective. I find the Modernizing and Strengthening the General Anti-Avoidance Rule Consultation Paper (“GAAR Consultation Paper”)1 helpful in providing some background and context for diagnosing the issues and setting out some proposed solutions. I appreciate the opportunity to offer some comments on two specific questions raised in the Consultation Paper:
(a) How to clarify the object, spirit and purpose of provisions of the Act?
(b) What is the role of economic substance in strengthening the GAAR?
Suggested Citation: Suggested Citation
Li, Jinyan, Hallmarks of Abusive Transactions and the Role of Economic Substance: Comments on Modernizing and Strengthening the General Anti-Avoidance Rule Consultation Paper (August 24, 2022). Osgoode Legal Studies Research Paper No. 4213644, Available at SSRN: https://ssrn.com/abstract=4213644 or http://dx.doi.org/10.2139/ssrn.4213644
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