Plain meaning
A rule that can deny tax benefits from abusive tax avoidance transactions.
Also called
general anti avoidance rule
Key points
- A rule that can deny tax benefits from abusive tax avoidance transactions.
- The exact result depends on the statute, program terms, administrative guidance, or court decision that applies.
- The concept can affect compliance obligations, eligibility, payment timing, or the economic effect of a policy measure.
- GAAR changes and cases affect tax planning, litigation, audits, and the line between accepted planning and abusive avoidance.
Why it comes up
GAAR changes and cases affect tax planning, litigation, audits, and the line between accepted planning and abusive avoidance.