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Notes and Manuals > Tax Law Technical Note

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Cover Tax Law Technical Note
Designing Interest and Tax Penalty Regimes
Mr. Christophe J Waerzeggers
,
Mr. Cory Hillier
, and
Mr. Irving Aw
Nearly all tax systems have some form of interest and tax penalty regimes. Interest payable on any late or underpayment of tax seeks to protect the present value of the tax amount to the government budget, whereas penalties are intended to deter taxpayers from defaulting on their tax obligations—and to punish them if they do—to achieve horizontal equity vis-à-vis compliant taxpayers. As interest and penalties serve very different objectives, they should not be applied in a mutually exclusive manner. This Tax Law IMF Technical Note focuses on the key issues that should be taken into consideration in designing interest and penalty regimes in tax legislations.
Keywords:
TLT; tax authority; penalty regime; tax authorities; law framework; RegimesDesigning interest; tax administration; ability to pay; tax official; taxpayer compliance; incentive regime; tax authority exercise; Tax administration core functions; Interest payments; Legal support in revenue administration; Tax law; Interest tax; Africa
Cover Tax Law Technical Note
Introducing an Advance Tax Ruling (ATR) Regime
Mr. Christophe J Waerzeggers
and
Mr. Cory Hillier
Advance tax rulings are a common feature of mature tax systems. The tax systems of the United States, the United Kingdom, the Netherlands, Germany, Australia, and South Africa all have established ruling practices. Taxpayers can obtain an advance tax ruling in nearly all OECD member countries. Increasingly, many non-OECD countries are also offering advance tax rulings. An advance tax ruling regime seeks to promote clarity and consistency regarding the application of the tax law for both taxpayers and the tax authority. However, there are also inherent risks associated with the proliferation of granting confidential advance tax rulings which are not published or otherwise reported. This Tax Law IMF Technical Note focuses on designing an advance tax ruling regime in the nature of private tax rulings.
Keywords:
TLT; ruling; tax ruling; tax; authority; taxpayer; advance; tax authority; rulings system; ruling application; ruling regime; advance ruling; ruling procedure; Tax law; Legal support in revenue administration; Tax administration core functions; Africa
Cover Tax Law Technical Note
Introducing a General Anti-Avoidance Rule (GAAR): Ensuring That a GAAR Achieves Its Purpose
Mr. Christophe J Waerzeggers
and
Mr. Cory Hillier
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 avoidance practices. A GAAR is typically designed to strike down those otherwise lawful practices that are found to be carried out in a manner which undermines the intention of the tax law such as where a taxpayer has misused or abused that law. However, the objective of combating unacceptable tax avoidance can itself make the legal design of a GAAR complex. This is simply because the phrase “tax avoidance” means different things to different people. Whatever the form of a GAAR, it should give effect to a policy that seeks to strike down blatant, artificial or contrived arrangements which are tax driven. However, the GAAR should be designed and applied so as not to inhibit or impede ordinary commercial transactions. This Tax Law IMF Technical Note discusses and explores how drawing a line between those arrangements which should be caught by the GAAR is a matter of degree and can be delicate.
Keywords:
TLT; general anti-avoidance rule; tax benefit; sample GAAR; economic gain; taxpayer; GAAR determination; purpose test; company B; export exemption; tax authority; Anti-avoidance rules; Tax avoidance; Double taxation; Exports; Tax law; Global; introduce a General Anti-Avoidance Rule