Hungary was the first post-socialist country in eastern Europe to adopt a general anti-avoidance rule (GAAR). The original GAAR adopted in 1990, best described as a "form and substance" GAAR, was supplemented by a second GAAR in 1998, best described as a "proper use of rights" GAAR. The tax...

Australian tax laws have contained a general anti-avoidance rule (GAAR) for over a century. The income tax GAAR proved robust for over half a century but ceased to be effective when read down in the 1970s and was replaced in 1981. The current GAAR has been recently amended to include specific...

Prior to the adoption of a specific statutory prohibition on the deductibility of fines for income tax purposes, Australian courts denied deductions on the basis of judicial doctrines that characterized fines as expenses incurred outside the scope of ordinary business. Later cases suggested a...

This article considers the contribution of Justice Edmonds to the jurisprudence of the goods and services tax (GST), Australia's version of a value-added tax. The judgments deal with a range of issues including transitional issues, definitional issues, contributions by third parties and cases...

In May 2016, China's indirect turnover tax on services and transfers of real property, the Business Tax, was terminated and with supplies formerly subject to the tax shifted into the VAT. This paper explains the background to the transition from the Business Tax to the VAT and the new rules that...

As part of a substantial overhaul of its tax system, in 1994 China established two tax administration systems, one under the control of the central government and separate agencies in each province supervised by provincial governments. Responsibility for collecting individual and company income...

This volume surveys all the issues that must be considered when designing a VAT. These include the how to best apply VAT to cross-border services, real property (immovable property), financial services, public bodies, and gambling and lotteries. Other design issues include the rate structure and...

New Zealand is currently the only member country of the Organisation for Economic Co-operation and Development (OECD) without a formal, comprehensive regime in place for taxing the capital gains made by its personal and corporate residents. Being the outlier is insufficient justification for...

In 2008 the Australian government announced that a major tax review would be undertaken (the Henry Review) to consider the future of the Australian tax system in the light of the challenges of the 21st century. That review is due to be completed by the end of 2009. There have been a large number...

Earlier this year, the Australian Government finally released the findings of the tax review panel looking at “Australia’s Future Tax System”, known colloquially (and referred to in this note) as the “Henry Report” after the chair of the review panel, Ken Henry. The report,...