| 单词 | Ramsay principle |
| 释义 | Ramsay principle In W T Ramsay Ltd v IRC [1981] UKHL 1 the House of Lords considered a claim that certain self-cancelling transactions could be used to create a non-taxable gain and a tax relievable loss. The Lords applied what became known as the Ramsay doctrine, stating that the court was entitled to look at the whole transaction and so to conclude that the taxpayer had not suffered a loss. The Ramsay principle can be viewed as a judicial limitation on the Westminster doctrine that tax is levied according to the form adopted for a transaction, not its underlying substance. It is interesting to note that the decision of the House of Lords in IRC v Duke of Westminster [1935] UKHL TC 490 was by a majority: Lord Atkin, the most senior Law Lord on the panel, decided against the Duke by proposing an argument that was effectively that adopted 45 years later in Ramsay v IRC. The Ramsay doctrine was developed in IRC v Burma Oil Ltd [1981] UKHL TC 54 and Furniss v Dawson [1983] UKHL 4, then effectively limited by MacNiven v Westmoreland Investments [2001] UKHL 6 and the highly influential decision of Lord Millett in Collector of Stamp Revenue v Arrowtown Assets Ltd [2003] HKCFA 46 (a decision of the Hong Kong Final Court of Appeal). |
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