GAAR cannot be invoked merely for being a party to tax avoidance, ‘participation’ is pre-requisite: South Africa HC

ABSA Bank Limited Vs Commissioner, South African Revenue Service (High Court of South Africa) FULL TEXT OF THE JUDGMENT/ORDER of SOUTH AFRICA HIGH COURT Introduction [1] The applicants, Absa Bank Ltd and its wholly owned subsidiary Absa Towers (Pty) Ltd hereafter referred to, collectively, as Absa, seek to review two decisions of the respondent, the Commissioner, South African Revenue Service (SARS). [2] The origin of this case lies in a controversy about whether or not an impermissible tax avoidance arrangement was conceived to evade a tax liability. It involves the application of the general...