Anti-avoidance rule to be introduced 24 October 2013 Report from Ridha Hamzaoui, IBFD Regional Tax Manager Africa and Middle East

It has been reported that Gabon will introduce an anti-avoidance rule to the General Tax Code. The main purpose of this measure is to enable the Revenue Authority to tax capital gains on the indirect transfer of Gabon-based assets (including gains on the shares of Gabon resident companies) through a non-resident intermediate holding vehicle. It is not known at this stage whether the provision will be drafted in the form of a Specific Anti-Avoidance Rule (SAAR) or as a General Anti-Avoidance Rule…