bluuebunny/crossref_metadata_2025 huggingface dataset:
Renovating the Tax Base: The Development of Selected International Aspects of the Income Tax Regimes in Mainland China and Singapore with Reference to Hong Kong
Authors: Sharkey N.
Published: December 2023

In this article, the author discusses the development of selected international aspects of the income tax regimes in mainland China and Singapore since the end of the 1970s and what they may mean for the future of the two countries and Hong Kong.
Klaus Vogel Lecture 2009 – Comments
Authors: Mössner J.M.
Published: December 2023

Prof. Dr Mössner, Professor, University of Osnabrück, counsel to PricewaterhouseCoopers, comments on some of the issues raised by Brian Arnold, Professor of Tax Law Emeritus, Tax Consultant, in his Klaus Vogel Lecture on myth and reality in treaty interpretation.
Flat Taxes: Myths and Realities
Authors: Owens J.
Published: December 2023

In this article, the author discusses the benefits, drawbacks and effects of flat taxes.
Legal Remedies in the Tax System
Authors: Holmes C. , Holmes K.
Published: December 2023

The article provides an introduction to and describes the administrative phases, courts, appeals, etc. with regard to tax cases.
Taxpayer Fair Trial Rights and BEPS Implementation from the Perspectives of China, France and Korea
Authors: Jung Y. (Youjin)
Published: December 2023

In this article, the author provides a comparative overview of the protection of taxpayer rights in France, Korea and China.
Corporate Tax Changes Implementing the EU Anti-Tax Avoidance Directive (2016/1164) and Other Developments
Authors: Tzenova L.
Published: December 2023

This note discusses changes to the Corporate Income Tax Act in respect of the introduction of new tax rules for certain operating lease agreements, a new interest deduction limitation rule, amendments to the thin capitalization rule and the controlled foreign company (CFC) rule, and other amendments relating to implementation of the EU Anti-Tax Avoidance Directive (2016/1164).
Beneficial Ownership in International Taxation and Biosemantics – Why a Redundant, Paradoxical and Harmful Concept Can Be a Potent Weapon in the Hands of the Tax Authorities
Authors: Kuźniacki B,
Published: December 2023

This article argues that the concept of beneficial ownership supports an income allocation function more than an anti-abuse one. It then demonstrates that the concept is redundant, paradoxical and harmful, and that it would be better to discard it. Finally, the article uses biosemantics to explain the concept.
Amazon Luxembourg Buy-In: Post-Litigation Results of Capital Market and Other Methods
Authors: Musselli A.
Published: December 2023

This article discusses the Amazon case (2017 and 2019), focussing on the quantitative results of the Amazon buy-in and providing brief observations on the motivations for the use of quantitative methods.
Update on Financial Transaction Tax
Authors: Salvadori di Wiesenhoff V.
Published: December 2023

The author discusses the most recent developments in the implementation and continued, but still incomplete to a large extent, clarification of the Italian financial transaction tax.
International Aspects of the New Portuguese Corporate Income Tax Regime Enhancing Tax Competition in the European Market
Authors: Calejo Guerra J. , Pires J.D. Mègre
Published: December 2023

This note addresses the international aspects of the overhaul of the Portuguese corporate income tax regime undertaken by the Tax Reform Commission, which was re-published by Law 2/2014 of 16 January 2014. In particular, the note focuses on Portuguese international tax policy, namely the newly introduced participation exemption regime and the new regime applicable to income earned by foreign PEs of Portuguese companies.
Council
Authors: Morales T.
Published: December 2023

This overview highlights the Council’s (i) update of the EU list of non-cooperative jurisdictions and (ii) advocacy of public disclosure of income tax information of big multinational companies.
Turnover Taxes under State Aid Spotlight
Authors: Sinnig J.
Published: December 2023

In response to the Commission’s increasingly broad interpretation of State aid rules with regard to national retail and advertising taxes, in the ANGED cases, the ECJ developed its Distribution Casino France case law, applying a restrictive view of the qualification of these taxes as illegal State aid. This article provides an overview of the relevant legal questions raised in the ANGED cases, as well as in the Polish and Hungarian retail sales and advertisement tax cases.
UK Anti-Avoidance - Where Are We Now?
Authors: Roxburgh D.
Published: December 2023

This article sets out the UK tax law as it currently applies where tax is avoided on transactions solely within the UK taxing jurisdiction. The article does not deal with tax evasion but does explain the new provisions for the accelerated identification of avoidance, and collection of tax avoided.
International and EU Measures for the Protection of Cultural Heritage: Towards Broader Use of Tax Breaks to Stimulate Private Engagement
Authors: Mastellone P.
Published: December 2023

This article discusses international and EU regimes providing incentives to finance cultural undertakings. It attempts to identify the scope of the concept of “cultural heritage”, which today embraces a wide range of expressions of human creativity and produces significant turnover. The author demonstrates that the current forms of public funding are insufficient to ensure adequate protection of cultural heritage and, due to inputs coming from EU institutions, the need to adopt tax breaks to stimulate funding from the private sector has become critical in recent years.
Identifying Selective Advantages in the Context of the German Inheritance and Gift Tax Act Reform
Authors: Vogel N. , Bäuml S.
Published: December 2023

Whenever government authorities have discretion, the practice of the European Commission, as well as the ECJ, is to assume that those authorities are affording certain businesses a selective advantage. Not every form of discretion, however, creates a selective advantage. This article analyses the factors that indicate that discretion amounts to a selective advantage in the context of a provision contained in the Draft Bill of 8 July 2015 on the Reform of the German Inheritance and Gift Tax Act.
A New Transfer Pricing Regime
Authors: Raj A. , Yong I.
Published: December 2023

The authors describe the development of recent amendments to the
Malaysian Income Tax Act with regard to transfer pricing, thin capitalization
and advance pricing arrangements. They also explain the difficulties faced in
practice due to delays by the tax authorities in issuing implementing
regulations to cover transfer pricing and thin capitalization issues.
The Vague Concept of “Taxable Person” in EU VAT Law
Authors: Bal A.
Published: December 2023

Despite numerous judgments of the Court of Justice of the European Union (ECJ) on the interpretation of the EU concept of “taxable person”, that concept still appears to lack clarity. In this article, the author gives an overview of the ECJ’s decisions on this topic and then discusses two recent controversial decisions of the highest judicial authority in tax matters in Germany, the Bundesfinanzhof.
Equity-based compensation : Taiwan
Authors: Wong M. (Michael) , Lee D. (Dennis) , Lee A. (Andrew)
Published: December 2023

Part of a comparative survey based on selected papers presented at the
Baker & McKenzie 24th Annual Asia-Pacific Tax Conference held in Kuala
Lumpur, Malaysia on 13 and 14 November 2008. The article considers
deductibility of the related expense, tax treatment of an adjustment of the
related expense before vesting, and tax treatment of cash-settled equity based
compensation.
Regulatory Documentation and Country-by-Country Reporting Requirements
Authors: Oosterhoff D.
Published: December 2023

The Senate of the Dutch Parliament on 21 December 2015 has passed the legislative proposals that will implement country-by-country reporting in line with Action 13 of the OECD’s BEPS Project. The author considers the likely impact of the coming changes and the future outlook in the country.
Building a Belt and Road International Tax Dispute Prevention and Resolution Mechanism
Authors: Cui X. , Chen J. (Jingxian)
Published: December 2023

In this article, the authors consider developments since 2019 regarding the creation of Silk Road Economic Belt and the 21st-Century Maritime Silk Road (BRI) Tax Dispute Prevention and Resolution Mechanism (the “Mechanism”) under the auspices of China, as well as outlining how the Mechanism could be improved.
India: Three-Tier Transfer Pricing Documentation
Authors: Bilaney S.K.
Published: December 2023

India has adopted three-tier transfer pricing documentation for fiscal year 2016/17. However, the specific rules and format for the Master File and country-by-country report have yet to be provided. This article provides up-to date information and practical guidance on a myriad of questions and issues relating to transfer pricing documentation and the compliance requirement in India under the new documentation regime.
Dependent Agency Permanent Establishments – Judicial Developments in India
Authors: Mehta A. (Amar)
Published: December 2023

This article examines recent judicial developments in India with regard to various aspects relating to dependent agency permanent establishments.
Tax Benefits Related to Investments in the Infrastructure Sector
Authors: Chagas C. , Novaski A. , Casarini R.
Published: December 2023

The Brazilian government enacted Provisional Measure 517 on 30 December 2010 which provides several tax benefits that are aimed at stimulating long-term investments in infrastructure projects. This article considers the main tax benefits that will be provided by this Provisional Measure.
Chinese Controlled Foreign Company Rules in the Post-BEPS Era: New Developments
Authors: Cui X. , Zhang H.
Published: December 2023

In this article, the authors argue that key concepts, such as “reasonable business needs”, in China’s controlled foreign company (CFC) rules have not been defined clearly. Consequently, disputes are easily triggered. In response, China promulgated its Implementing Measures for Special Tax Adjustment (Discussion Draft) in 2015, which followed the recommendations of the OECD’s BEPS Action 3 Final Report and provided more specific guidance. However, the Discussion Draft did not clarify how to determine “reasonable business needs”, how to strike a balance between maintaining international competitiveness of Chinese enterprises and protection of China’s tax base, or how to deal with losses suffered by CFCs. The authors suggest that, when China revises its CFC rules, it does not blindly follow the BEPS recommendations nor indiscriminately pursue stricter rules. Rather, it would be preferable to strike a balance between tax base protection and competitiveness in line with China’s economic development strategy and policy objectives.
Applying the Arm’s Length Principle to High-Risk and Low-Risk Financing/Treasury Entities – A Case Study
Authors: Prokoph T,
Published: December 2023

This article analyses how the Transfer Pricing Guidance for Financial Transactions are implemented in German law and the new Administrative Principles on Transfer Pricing 2021 and in which points they may differ. In this respect, it first considers the arm’s length test of transfer prices for financial transactions within the group according to the OECD and compares the result with the new Administrative Principles on Transfer Pricing 2021. As a second step, a case study is presented that exemplifies the divergences between the German administrative interpretation and the international standards of the OECD.
ICSID Arbitration: BITs, Buts and Taxation – An Introductory Guide
Authors: Castagna S.
Published: December 2023

This article considers bilateral investment treaties (BITs) and arbitration in relation to tax matters. Specifically, the author analyses the primary aspects of BITs with regard to taxation of investments and considers the interpretation in a number of cases as made by International Centre for Settlement of Investment Disputes (ICSID) tribunals.
Fiscale Eenheid X: The VAT Exemption on Management of Real Estate Funds
Authors: Zutt J. , Berkum M. van
Published: December 2023

On 20 May 2015, Advocate-General Kokott released her opinion in a pending case before the Court of Justice of the European Union, Fiscale Eenheid X NV. She opined that a company investing in real estate may utilize the VAT exemption for the management of special investment funds, but in order to be eligible, it must be regulated.
The End of the LIBOR World as We Know It – A Sound Bite of Consequences Tax Professionals Should Be Aware of
Authors: Ledure D. , Li A. (Abby) , Noteman Z. , Paquot J-C. , Verwimp H.
Published: December 2023

This article provides some context to the end of LIBOR and sets out potential tax consequences for MNEs to consider.
The New United Nations Practical Manual on Transfer Pricing for
Developing Countries
Authors: Lennard M.
Published: December 2023

The author provides an analysis of the new UN Practical Manual on
Transfer Pricing for Developing Countries, as recently approved by the UN
Committee of Experts on International Tax Cooperation in its Annual Session of
15-19 October 2012.
Proportionate Adjustments: Prescription before Diagnosis
Authors: Korde A.
Published: December 2023

The author provides a critical analysis of the use of proportionate adjustments in India, arguing that such adjustments are not only inaccurate adjustments but are also not permissible under law.
Dutch Dividend Withholding Tax: Changes and Anticipated Abolishment
Authors: Zeijden F.M. van der , Schellingerhout J. , Spoelder E.J.
Published: December 2023

The authors describe the recent development in the Dutch dividend withholding tax legislation in the context of international developments on this theme.
BEPS Action 4: Policy Considerations and Implementation Status
Authors: Offermanns R. , Huibregtse S.B. , Verdoner L.A. , Sood A.
Published: December 2023

This article addresses BEPS Action 4. The authors provide a historical perspective of the relevant BEPS and EU measures, explain the highlights of BEPS Action 4, discuss the overlap between the different Actions, update readers on country-specific implementation of BEPS Action 4, summarize existing case law in the area, present practical examples dealing with the impact of Action 4 on certain structures and, finally, provide concluding remarks.
Opinion Statement of the CFE on the Decision of the European Court of Justice of 29 November 2011 in Case C-371/10, National Grid Indus BV and Business Exit Taxes within the European Union
Authors: ECJ Task Force
Published: December 2023

This is an Opinion Statement prepared by the ECJ Task Force on the National Grid Indus BV case and exit taxation on business in the European Union.
The members of the Task Force are: Paul Farmer, Daniel Gutmann, Volker Heydt, Eric Kemmeren, Michael Lang, Franck Le Mentec, Pasquale Pistone, Albert Rädler, Stella Raventos-Calvo (Chair), Isabelle Richelle, Friedrich Roedler and Kelly Stricklin-Coutinho. Although the Opinion Statement has been drafted by the ECJ Task Force, its content does not necessarily reflect the position of all members of the group.
Changes to the OECD Commentary on Collective Investment Vehicles Proposed by the OECD Committee on Fiscal Affairs
Authors: Fibbe G.K.
Published: December 2023

The author reviews, in this article, the changes to the OECD Commentary on Collective Investment Vehicles that have recently been proposed by the OECD Committee on Fiscal Affairs, together with the potential tax treaty and EU law implications of the changes.
Integration of Taxes on Inheritances, Estates and Gifts into the OECD Model Tax Convention on Income and on Capital: The Curious Case of Special Provisions – Part 1
Authors: Szczepański J.K.
Published: December 2023

Part 1 of this article considers the interaction between the special provisions in the OECD Model Tax Convention on Income and on Capital, and the conceptual foundations of taxes on inheritances, estates and gifts.
Further Changes to Investment Manager Regime
Authors: Joseph A.
Published: December 2023

The author considers pending changes to the rules applicable to
foreign investment funds, which changes are expected to benefit foreign fund
managers trading in certain Australian securities.
Freedom, Volition and Income Taxes: A Normative Case for the Taxation of Capital Gains on a Realization Basis
Authors: Koury P.A. Cavalcante
Published: December 2023

This article argues that the right to freedom provides a normative basis for the criterion of realization for the taxation of capital gains. Even though this reason may be surpassed by competing factors in a given legal system, it means that claims that realization has no normative justification are unsound.
Sun Pharma’s IPR Issue – A Narrow Escape!
Authors: Bilaney S.
Published: December 2023

The author reviews the findings and order of the Income Tax Appellate Tribunal regarding the transfer of intellectual property rights in the case of Sun Pharmaceuticals India.
Reflections on the Overextension of the Extended Recovery Period for Customs Duties
Authors: El Bojaddaini Y. , Luijt T. van
Published: December 2023

In this article, the authors critically examine and compare the Netherlands approach to the application of article 103(2) of the Union Customs Code, which allows EU Member States to extend the recovery period for customs debts in relation to acts that could give rise to criminal court proceedings.
The European Commission’s Communication on the Future of VAT: A Recipe for Growth?
Authors: Lejeune I. , Daou J. , De Maeijer S.
Published: December 2023

After having received more than 1,700 responses to the consultation paper (“Green Paper”) on the future of EU VAT, the European Commission published a Communication in which it set out its views on the fundamental features of the future VAT system and listed the priority areas for further action in the years to come. In this article, the authors give an overview of the Commission’s views and, in order to assess whether it is a recipe for growth, benchmark the proposed system against a best-practice VAT system.
Supreme Court
Judgement: Anti-Tax Haven (CFC) Legislation does not Infringe Japan–Singapore
Tax Treaty
Authors: Asatsuma A.
Published: December 2023

In this article, the author examines the implications of the recent
Japanese Supreme Court decision regarding the application of the Japanese
anti-tax haven legislation and its (in)compatibility with tax treaties. The
author also considers the implications of the case in relation to important
Finnish, French and UK cases.
The Fight against RETT Blocker Structures under the German Real Estate Transfer Tax Reform
Authors: Eckl P.
Published: December 2023

This article provides an overview of the reform of the German Real Estate Transfer Tax (RETT), which is aimed at RETT blocker structures.
What Will the UK Uncertain Tax Treatment Disclosure Rules Mean for Transfer Pricing?
Authors: Green G.
Published: December 2023

New UK rules requiring disclosure of uncertain tax treatments are likely to have a significant impact on transfer pricing in the United Kingdom. Taxpayers within the scope of the rules will need to carry out careful review of their transfer pricing to determine whether there are uncertainties that must be notified. It is likely that HMRC’s internal guidance on transfer pricing will become far more important for taxpayers than has thus far generally been the case.
A Comparative Analysis of Article 10(5) of the OECD Model as Implemented
in Tax Treaties and Relevant Case Law
Authors: De Santis D.A.
Published: December 2023

This article provides a comprehensive analysis of issues arising from
the interpretation of article 10(5) of the OECD Model which prohibits the
extraterritorial taxation of dividends or profits, and analyses whether or not
the range of existing tax treaties that are in force assist in this
process.
Brexit – Trade and Cooperation Agreement: The Proof of the Pudding Is in the Eating
Authors: De Lepeleire C. , Van Reet L.
Published: December 2023

On 1 January 2021, the United Kingdom became a third country to the European Union. In this article, the authors analyse the indirect tax aspects (customs/VAT) of the trade in goods between the European Union and the United Kingdom resulting from the Trade and Cooperation Agreement.
Credit Versus Exemption – An Evolving Constellation of Constellations
Authors: Nikolakakis A.
Published: December 2023

This article discusses the practical and policy considerations relating to the “credit” and “exemption” methods applicable to foreign-source income derived by a resident of a taxing state and, more specifically, by an entity taxed as, or similar to, a corporation that is a resident of a taxing state.
Transfer Pricing in the Western Balkans: The Current State of
Play
Authors: Cooper J.L. , Skopljak Z.
Published: December 2023

This article provides an overview of the current state of play of
transfer pricing in the Western Balkan countries, discussing the legislative
framework as well as the administrative practice and recent developments in
Albania, Bosnia and Herzogovina, Kosovo, Macedonia FYR, Montenegro and
Serbia.
Cross-Border Short-Term Employment
Authors: Dziurdź K. , Pötgens F.
Published: December 2023

Seminar B of the 2013 International Fiscal Association Congress in
Copenhagen examined the tax treatment of income from employment under article
15 of the OECD Model where an employee is present in the work state for not
more than 183 days. This article summarizes some issues discussed in the
Seminar.
BEPS, Hybrid Entities and Financing
Authors: Joseph A.
Published: December 2023

International developments and current trends affecting hybrid securities, especially the role of the OECD in combating double non-taxation, double deduction and long-term tax deferral, will have a significant impact on financing using hybrid instruments in the future.
New Transfer Pricing
Reporting and Documentation Rules
Authors: P. Filippou Elina
Published: December 2023

This article considers new transfer pricing documentation rules in
Greece. These new rules are generally in line with the provisions of the EU
Code of Conduct on Transfer Pricing Documentation for Associated
Enterprises.
Practical Information on European VAT
Authors: Annacondia F.
Published: December 2023

As is traditional in the first issue of each year, this overview presents the key features of the VAT systems of most European countries (both EU and non-EU), including standard and reduced VAT rates, various thresholds, the format of the VAT identification numbers and contact details of the offices of the national tax administration which process VAT refund applications or provide information to non-resident businesses on national VAT rules. The overview is compiled by the editor on the basis of information provided by the members of the European Knowledge Group of IBFD at the beginning of 2022.
New “Backpacker Tax” Finally Enacted
Authors: Wong D. (Dorcas) , Butler M.St.J.R.
Published: December 2023

The authors address the new “backpacker tax”, which has recently been introduced in Australia. The new legislation makes foreign working holiday makers pay more tax on their casual earnings. The authors discuss the manner in which the legislation developed and how a last-minute compromise ultimately allowed the new tax to operate from 1 January 2017.
Implementation of the EU Anti-Tax Avoidance Directive (2016/1164) Exit Tax Measures in Finland
Authors: Kananoja V.
Published: December 2023

This article provides an overview of the Finnish implementation of article 5 of the EU Anti-Tax Avoidance Directive (2016/1164) and general remarks on other potential developments in the field of exit taxation in Finland.
Court of Appeal Decision on Tax Avoidance in International Financing
Arrangements
Authors: Sharma S. (Sundareswara)
Published: December 2023

The author, in this article, discusses the Singapore Court of Appeal
decision in AQQ and anor. (2014), where the Court ruled
that a financing arrangement using a Mauritian bank for corporate restructuring
in respect of Singapore and Malaysian companies qualified as tax
avoidance.
Potential Effects of the OECD Base Erosion and Profit Shifting Initiative on Swiss Transfer Pricing Rules and Swiss Companies
Authors: Stocker Raoul
Published: December 2023

In this contribution, the author considers the implications of the Base Erosion and Profit Shifting initiative of the OECD with regard to Switzerland’s transfer pricing practice, Swiss companies and potential changes to Swiss tax law.
Federal Court Disagrees with SingTel Australia that Interest Paid to British Virgin Islands Company Was Arm’s Length
Authors: Butler M. , Wang L. , Chen K. , Wong V. (Victoria) , Mai K.
Published: December 2023

In Singapore Telecom Australia Investments Pty Ltd v. Commissioner of Taxation, Moshinsky J has agreed with the Commissioner that SingTel Australia paid excessive interest on an AUD 5.2 billion loan from its British Virgin Islands holding company. Moshinsky J therefore upheld amended assessments disallowing interest deductions of AUD 894 million. However, the simplicity of the result belies the complexity of the Australian transfer pricing provisions and his Honour’s lengthy and careful reasoning. The authors examine the decision in detail and conclude that, despite the Commissioner's success, the transfer pricing landscape in Australia remains uncertain and unpredictable – especially given the taxpayer’s recent (2021) win in Commissioner of Taxation v. Glencore Investment Pty Ltd. All transfer pricing matters clearly need to be considered separately on a case-by-case basis.
IFA @ Boston: 66th Congress of the International Fiscal Association
Authors: Tron M.E.
Published: December 2023

In this foreword to the 2012 Special Issue, Manuel Tron, the President of the International Fiscal Association (IFA), introduces the Boston 66th IFA Congress by outlining the scientific and other aspects of the Congress, as well as providing some thoughts on other IFA activities.
The Impact of Zero-Rated Supplies on Financial Services in the KSA – What It Means and Where It Ends
Authors: Hsieh T. , Bader Y.
Published: December 2023

The purpose of this article is to analyze the recent developments regarding the zero-rated supply of services, particularly in the financial services sector, to a non-resident customer in the Kingdome of Saudi Arabia (KSA) in accordance with article 33 of the VAT Implementing Regulations, and the gap between the interpretation of the tax law and the intended policy behind these developments.
Contract Splitting and Article 17 of the OECD Model: Is Source Taxation of Artistes and Sportsmen a New Dummensteuer?
Authors: Báez Moreno A.
Published: December 2023

In this article, the author discusses problems in the application of article 17 of the OECD Model by the Spanish tax administration and courts.
Pakistan’s Efforts to Implement the Common Reporting Standard
Authors: Hassan B.
Published: December 2023

In this article, the author reviews Pakistan’s efforts to implement the Common Reporting Standard so as to be able to counter tax evasion.
The Saudi Arabian Tax Environment: Challenges and Modernization for a Global Community
Authors: Altawyan A.A.
Published: December 2023

A primary reason corporations span many jurisdictions is to minimize (tax) costs and receive tax incentives for investment. It is important to know which factors create a friendly tax environment to encourage the establishing of regional headquarters. Accordingly, this article considers Saudi tax rules and incentives compared to global standards.
Taxation and Finance in Latin America: Brazil
Authors: Takano C.A. , Przepiorka M.
Published: December 2023

This article aims to provide an overview of recent updates to the Brazilian tax system, presenting the main issues that may affect the attraction of foreign investment and also the challenges that arise in the current Brazilian legal framework with regard to relevant tax issues worldwide.
VAT Recoverability of Unredeemed Single Purpose Vouchers
Authors: Echevarría Zubeldia G.
Published: December 2023

In Air France, the Court of Justice of the European Union (ECJ) decided that the no-show of travellers does not invalidate the characterization of the sales of tickets as a taxable supply for VAT purposes and rejected the claims of appellants seeking the repayment of VAT accounted for on the tickets issued but not used. In this article, the author analyses the amendments of the VAT Directive related to single purpose vouchers (SPVs) and the Air France and other ECJ cases, with an aim to clarify the possibilities of recovering VAT on unredeemed SPVs.
ELTIF 2.0 – Finally a Success Story for Pan-European Distribution?
Authors: Staedter S. , Philippart de Foy Y.
Published: December 2023

This article aims to illustrate the new regime for European long-term investment funds and its potential for the pan-European distribution of alternative investment funds. The authors summarize the existing challenges for asset managers and distributors under the previous regime and the key amendments on the asset and distribution side of the new regime. The article focuses on the regulatory and tax related aspects from a practitioner’s perspective, including some country-specific incentives for the launch and distribution of European long-term investment funds and a brief overview of the current landscape.
Transfer Pricing and
Related-Party Transactions under Customs Law: Harmonization?
Authors: Ramanujan Adarsh
Published: December 2023

Recently, there has been much talk about harmonizing the regime of
transfer pricing and related-party transactions under customs law, at the
international as well as the national level. An understanding of the
differences between the two existing regimes is required to proceed further
with harmonization thereof. This article considers the relationship between the
two regimes, specifically from an Indian perspective and, in the context of
harmonization, makes note of certain basic, inherent contradictions between the
two regimes.
DEBRA (& ILR) – The Commission’s New Tax Initiative to Create a Level Playing Field for Debt and Equity
Authors: Dietrich M. , Golden C.
Published: December 2023

On 11 May 2022, the European Commission published a proposal for a Council Directive laying down rules on a debt-equity bias reduction allowance and on limiting the deductibility of interest for corporate income tax purposes. In this article, the authors provide an overview of the key aspects of the Proposed Directive, highlight inconsistencies within the proposed text and identify a number of open questions where the authors believe further clarity is required.
Transfer Pricing Update
Authors: Abdellatif M.
Published: December 2023

This article discusses the transfer pricing provisions and guidelines in Egypt, and considers related administrative issues. An overview of the legal framework for transfer pricing is presented, followed by a review of transfer pricing methods and a consideration of the administrative aspects of transfer pricing.
Exit Tax in the Slovak Republic
Authors: Blažejová Z.
Published: December 2023

Due to mandatory implementation of the EU Anti-Tax Avoidance Directive (2016/1164) (hereinafter ATAD), the Slovak Republic was required to implement, with effect from 1 January 2018, an entirely new concept of taxation, i.e. exit tax.
International Tax Rules in Russia: Analysis and Conceptual Findings
Authors: Milogolov N.
Published: December 2023

This article analyses the adoption of international tax rules and concepts in Russia. The author concludes that, although Russian international tax rules are generally based on international tax practice, there is a significant gap between Russian international taxation rules and the rules of OECD member countries, which has led to a high level of uncertainty, base erosion in Russia and damage to Russia’s competitive advantage in terms of attracting foreign investment due to its international tax treaty policy.
Pakistan Further Introduces Tax Measures to Discourage Transactions between Associates
Authors: Hassan B.
Published: December 2023

Through the Finance Act 2020/21, Pakistan introduces further tax measures into the Income Tax Ordinance 2001 to discourage transactions between associates. In this article, the author summarizes and discusses tax measures, including those introduced through the Finance Act 2020/21 to discourage transactions between associates.
The Taxation of Resource Companies in Australia
Authors: Joseph A.
Published: December 2023

In this article, the author reviews the taxation of resource companies in Australia with an emphasis on both the past and on potential future developments in this area.
Some Thoughts on the OECD’s Recommendations on Hybrid Mismatches
Authors: Cooper G.S.
Published: December 2023

In this article, the author sets out his views on the various proposals contained in the Recommendations Paper in respect of the OECD’s Base Erosion and Profit Shifting initiative with regard to hybrid mismatches.
Full Federal Court Upholds Assessments against Chevron Australia in Milestone Transfer Pricing Case
Authors: Butler M.St.J.R. , Pengelly J. , Wang L.
Published: December 2023

The authors review a much-anticipated appeal decision regarding the operation of Australia’s transfer pricing rules in relation to an intra-group credit facility.
An Explanation of the 2009 IRS Cost Sharing Arrangement Regulations
Authors: Dickenson H.K.
Published: December 2023

New Temporary Regulations were issued in 2009 under Sec. 482 with regard to cost sharing arrangements. This article aims to reduce the complexity of the Temporary Regulations as much as possible, and provides a thorough analysis of the new landscape for taxpayers.
Allocation of Profits to Construction or Installation Permanent Establishments
Authors: Ditz X. , Heider C.
Published: December 2023

The construction or installation permanent establishment has considerable practical importance. If a construction or installation permanent establishment has been established under domestic law and article 5(3) of the OECD Model , the question arises as to how to determine its profit. On the one hand, the OECD does this based on the generalized principles set out in the Authorised OECD Approach (AOA). On the other hand, Germany’s tax authorities have issued detailed regulations on determining profits for construction or installation permanent establishments, some of which are not consistent with the principles set out in the AOA.
Netherlands Tax Aspects of (Private) Class Action Antitrust Lawsuits
Authors: Shalhav S.
Published: December 2023

This article considers the tax aspects and efficient structuring of private (class action) antitrust lawsuits, in particular, the statutory framework relating to such actions and the typical legal structure involved, the primary corporate income tax implications, and the direct and indirect tax aspects of a class action Foundation.
Guaranteed Unclarity? – A Critical Analysis of Paragraph 10.161 of the OECD Transfer Pricing Guidelines
Authors: Manivannan S. Sundar , Straten D. van
Published: December 2023

Paragraph 10.161 of the OECD Transfer Pricing Guidelines takes a specific approach to the accurate delineation of financial guarantees by recharacterizing guaranteed debt as a loan to the guarantor followed by an equity contribution to the legal borrower in certain circumstances. This article provides a critical analysis of this paragraph by exploring its legal background and also considering potential ramifications of the approach included in the paragraph from an international tax perspective. This article also presents a way forward on how taxpayers and tax authorities may review debt capacity of a borrower of guaranteed debt to establish the arm’s length nature of the financing arrangement.
Are the UK Thin Capitalization Rules Compliant with EU Law? – An Update
in the Light of Recent ECJ Decisions
Authors: Dickinson F.
Published: December 2023

This article considers whether or not the UK thin capitalization
regime is, following various recent European Court of Justice decisions and the
2004 amendments, compatible with EU law. In this respect, the author reviews
recent judicial and other developments to establish whether or not UK law fully
complies with EU law.
An Assessment of the Anti-Tax Avoidance Doctrines in the United States and the European Union
Authors: Lampreave P.
Published: December 2023

The codification of the economic substance doctrine in the United States has given rise to controversy there and in countries with investments in the United States. This article analyses the origin of this doctrine and the consequences of its codification. It also considers EU anti-tax avoidance legislation and court cases.
Czech Supreme Administrative Court Sets Clear Limits for Tax Authorities When Adjusting Transfer Prices
Authors: Fekar P.
Published: December 2023

On 27 January 2011, the Czech Supreme Administrative Court issued a decision on the Czech transfer pricing rules clarifying the burden of proof in transfer pricing cases, the application of various methods for determining an arm’s length price, as well as the extent of possible adjustments where the arm’s length price is defined within a certain range. This note analyses the decision in light of the recently revised OECD Guidelines (July 2010 edition).
Base Erosion and Profit Shifting Report and Action Plan – Overview and Relevance in Indian Context
Authors: Zobalia H. , Devani J.
Published: December 2023

This article describes the OECD’s recent study on base erosion and profit shifting, including the specific actions to be taken to address this challenge. The significance of this issue for India is also discussed.
Cross-Border Entities and EU VAT: A Contradictory Concept?
Authors: Amand C.
Published: December 2023

One of the issues discussed at the Forum of the Confédération Fiscale Européenne (CFE) on 23 April 2009 was the VAT treatment of services exchanged between the various parts of a commercial group or entity that are separated by a national border. In this article, the author gives an overview of the discussions and concludes that, although it solves specific problems for a limited group of businesses, treating services exchanged between dependent parts of an entity or commercial group as being outside the scope of VAT is not consistent with the principles on which the VAT system is based.
Mandatory Disclosure in the Netherlands – To Disclose or Not to Disclose: That Is the Question
Authors: Korving J. , Verbaarschot J.
Published: December 2023

The authors, in this article, discuss the Netherlands implementation of DAC6. In particular, they address a number of clarifications in respect of the draft legal text made by the State Secretary, focussing on the hallmarks from the Annex to DAC6, and provide their opinions on several interpretations of these hallmarks from a Netherlands perspective.
Strategic Control of Transfer Pricing in a BEPS Context
Authors: Plesner Rossing C. , Pearson T.C. , Nesimi A.
Published: December 2023

This article provides an overview of key concepts for controlling transfer pricing strategies based on the Levers of Control framework.
Revised Guidance on Intercompany Financing
Authors: Rasch M.
Published: December 2023

On 27 December 2016, the Luxembourg tax authorities issued revised guidance on intra-group lending activities financed by borrowings. Circular L.I.R. 56/1-56bis/1 has been aligned with Actions 8 to 10 under the OECD BEPS Project and replaces the previous Circulars L.I.R. 164/2 and 164/2 bis from 28 January 2011 and 8 April 2011 respectively.
The Common Reporting Standard, the “Managed By” Entity and the Purpose Test
Authors: Jackson G. , Brown H. (Harriet)
Published: December 2023

This article considers difficulties in interpreting the common reporting standard (CRS) – particularly the definitions of “financial account” and “investment entities”. These definitions underpin reporting, and it is essential their wording be clear and not undermined by guidance given in the Commentary. This is particularly relevant where the Commentary’s status differs from jurisdiction to jurisdiction. This uncertainty about the definition of “financial account” may encourage over-reporting, which could have serious repercussions for both clients and financial institutions.
Basel III and Banking Supervision: Taxes Are of Capital
Importance
Authors: Gunst E. de
Published: December 2023

Few will have missed that capital requirements for banks have been
tightened significantly in response to the financial crisis. The new rules are
contained in what is called Basel III. Capital Requirements Directive IV
implements Basel III in the EU. The rules are very detailed and have a dramatic
impact on banks. Among other things, banks will be required to increase the
level of their capital and improve the quality thereof. Although tax plays an
important role in this, it has received very little attention to date. This
article discusses the role of taxes and their impact on banks’
capital.
Country-by-Country Reporting Goes Public – Cui Bono?
Authors: Lagarden M. , Schreiber U. , Simons D. (Dirk) , Sureth-Sloane C.
Published: December 2023

After the introduction of CbCR – pursuant to the BEPS Project (Action 13) in 2015 –, which was established to reduce the information asymmetry between MNEs and tax authorities of the countries they operate in, now public CbCR – as suggested by the EU Commission in 2016 – is discussed as a next step. Here, the objective is to overcome information asymmetries between MNEs and the general public of the countries they operate in. Starting from the assumption that regulators care about the legitimacy of tax laws, this article evaluates pros and cons of public CbCR. The authors find that from the perspective of information asymmetries, public CbCR increases tax transparency only marginally at best. Accordingly, it is concluded that democracies that are based on the rule of law seem to rely on pillories in terms of public CbCR to enforce fair tax payments.
2015 Japanese Tax Budget – An Overview
Authors: Otchi M.
Published: December 2023

In this descriptive article, the author provides a comprehensive background and summary of the changes announced in the 2015 Japanese Tax Budget.
Taxation of Shipping Income under Tax Treaties – Development of Case Law in India
Authors: Mehta Amar
Published: December 2023

About 90% of India’s sea-bound cargo is handled by foreign carriers. Hence, shipping income provisions under various Indian tax treaties have gained significant importance in recent years and India is one of the few jurisdictions with a substantial number of court decisions on the subject matter. Article 8 of the OECD MC attributes the exclusive right to tax shipping profits to the state in which the effective management of the enterprise is situated. Article 8 of the UN MC leaves the matter open. Some important Indian tax treaties deviate from the OECD MC and permit India (as a source state) to tax to a certain extent a foreign shipping enterprise’s income from operation of ships in international traffic. The most prominent decisions of the Indian Income Tax Appellate Tribunal (ITAT) dealing with interpretation shipping provisions in various Indian tax treaties are discussed in this article.
Section 871(m) and Qualified Derivatives Dealer Explained
Authors: McGill R.
Published: December 2023

The article explains the basic provisions for regulations with regard to chapter 1 section 871(m) of the US Internal Revenue Code and qualified derivatives dealer status. It establishes the who, what and when in relation to tests necessary to determine liability and provides examples of how that liability can be calculated.
Case on Intra-Group Debt and Abuse of Law
Authors: Carreño F. , Irazusta P.
Published: December 2023

The authors consider a High Court decision on the deductibility of
intra-group interest expense, specifically on the application of fraus legis and other anti-avoidance concepts so as to limit
such deductibility.
State aid and autonomous regions : the ECJ's ruling in the Basque
Country case
Authors: Palao Taboada C.
Published: December 2023

The 2006 judgment of the European Court of Justice in the Azores case
regarding the European Commission's interpretation of the "selective criterion"
of the state aid rules of the EC Treaty opened the door for the ECJ's judgment
in the Basque Country case in 2008. This article examines these two decisions
of the ECJ. Before doing so, the article describes the financial regime of the
Basque Country, which forms the background of the Basque Country
judgement.
US Dividend Equivalents: Final Regulations Subject Repos and Swaps to
Dividend Tax
Authors: Carman P.
Published: December 2023

The author considers final and proposed regulations on the US
characterization of dividend-equivalent payments to non-US persons, issued on 5
December 2013 by the US Internal Revenue Service.
The Difficult Imported Mismatch Rules: BEPS Action 2 Recommendations
Authors: Allen C. (Christina)
Published: December 2023

The OECD recommended various rules that countries can adopt to combat hybrid mismatch arrangements in their domestic tax system. However, its success would not come when the integrity measure, namely “imported mismatch rules”, does not operate as intended. This article examines how the imported mismatch rules are meant to operate and discusses inherent practical difficulties in the context of Australia, the United Kingdom and the European Union. It is recommended that countries should take a globally coordinated approach to counter such difficulties.
Holding Companies and Leveraged Buy-Outs in the European Union Following BEPS: Beneficial Ownership, Abuse of Law and the Single Taxation Principle (Danish ECJ Cases C-115/16, 116/16, 117/16, 118/16, 119/16 and 299/16)
Authors: Hernández González-Barreda P.A.
Published: December 2023

In this article, the author discusses the highly anticipated ECJ Danish beneficial ownership cases, which address treaty and directive shopping scenarios within the area of corporate finance and corporate reorganization. The broad interpretation of beneficial ownership and abuse of EU Law in the EU Interest and Royalties (2003/49) and Parent-Subsidiary (2011/96) Directives given by the Court may lead to significant uncertainty, as well as inconsistencies that will need further clarification.
Overview of General Turnover Taxes and Tax Rates – January 2021
Authors: Annacondia F.
Published: December 2023

Almost all countries levy a general turnover tax, i.e. a tax on essentially all goods and services supplied by manufacturers, traders and service providers. Those turnover taxes are mostly levied under a VAT type of tax system and, in a decreasing number of cases, as a multi or single-stage (retail) sales tax. This article presents an overview of those general turnover taxes and the tax rates applicable on 1 January 2021.
Tax Proceedings in Norway: An Overview Including Recent Decisions of the Supreme Court
Authors: Endresen C.
Published: December 2023

In this article, the author provides a short introduction to tax proceedings in Norway, including a description of the recent restructuring of the tax administration. The main part of the article provides a survey of tax cases decided by the Supreme Court that involve procedural issues, most of which also have to be dealt with in other jurisdictions.
ECJ Decision on Arbitration between Germany and Austria Regarding Taxation from Profit Participation Certificates under the Austria-Germany Tax Treaty
Authors: Angsten S.
Published: December 2023

In an arbitration case between Germany and Austria on the right of taxation relating to interest from profit-participation certificates, the ECJ recently held that such interest should be taxed only in the state of residence of the beneficial owner unless such certificates gave entitlement to the debtor’s profits.
AT: ECJ, 12 Sept. 2017, Case C-648/15, Republic of Austria v. Federal Republic of Germany, ECJ Case Law IBFD.
Apart from the tax aspects and the interpretation of the treaty itself, this decision is remarkable as it demonstrates the judicial capacity of the ECJ in double tax treaty controversies.