Updated chapter in the online version of the book, Tax risk management - from risk to opportunity.

Business taxation is at the heart of the political agenda. The 2014 G20 agenda notes that “in recent years international tax laws have failed to keep pace with changes in the global business environment, particularly with the rapid growth of the global economy, meaning that multinational...

This article argues that statutory general-anti avoidance or anti-abuse provisions (GAARs) are an essential part of a modern tax system, since specific legislation will not catch every abuse. Properly drafted GAARs with appropriate protections can give administrators and courts an important tool...

The presentation is based on a Centre report which is available online, 'HMRC's relationship with business', draft report, 19/06/2014.