bluuebunny/crossref_metadata_2025 huggingface dataset:
The Intentional Use of the India–Mauritius (1982) and India–Singapore (1994) Tax Treaties To Promote Foreign Direct Investment in India
Authors: Sharma P.
Published: December 2023

The author, in this article, considers the implications of the India–Mauritius (1982) and India–Singapore (1994) Income Tax Treaties and the 2005 amending protocol to the latter tax treaty with regard to foreign direct investment in India.
In-Depth Analysis of the Concept of Options Realistically Available in Transfer Pricing
Authors: Amici D.
Published: December 2023

The purpose of this article is to provide an in-depth analysis of the transfer pricing concept of options realistically available (ORAs). The article starts by analysing the actual state of the art based on a cross-sectional examination of international guidance and then focusing on the Discussion Draft on Financial Transactions, issued by the OECD under the base erosion and profit shifting (BEPS) package. An assessment is also carried out on the topic’s different theoretical and practical features, as analysed in the major international literature to date. The key target is to discuss some possible critical aspects related to the applied usage of ORAs by both taxpayers and tax authorities.
A Comparative Analysis of the Indirect Foreign Tax Credit in Latin America and in the United States – Part II
Authors: Calderón Manrique D.
Published: December 2023

Part II of this article continues the country-based comparison of indirect foreign tax credit systems started in Part I by considering Mexico and the United States. These systems are then compared in all five countries examined. The article next considers the relevant policy issues before ending with conclusions and recommendations.
Hedge Accounting Continued: The Greeks
Authors: Kasteren B. van
Published: December 2023

The author provides an overview of the main theoretical and practical
difficulties involved in tax accounting of non-standard financial instruments
in hedging scenarios, focusing on the most recent developments in the
Delta Hedging case.
The Interaction between Head Office, Branch and VAT Grouping: New Challenges Ahead for the European Union
Authors: Abdoelkariem R. , Prinsen F.
Published: December 2023

In this article, the authors discuss how the boundaries of the VAT taxable status are set for a head office and a branch in a cross-border situation, and if a branch could qualify as an independent taxable person for VAT purposes, despite the fact that it forms a legal entity with the head office. The authors also consider whether the relationship between a head office and branch changes if one of them is part of a VAT group, taking into account the ECJ decision in Skandia, and other recent developments surrounding this judgment. At the end, the VAT treatment of international cost recharges between a head office and branch is discussed taking into account the OECD’s International VAT/GST Guidelines.
DAC6 in a Selection of EU Member States: The Practical Application of the Main Benefit Test and Its Hallmarks
Authors: Offermanns R.H.M.J. , Moniz R. Botelho
Published: December 2023

In this article, the authors provide a survey of the practical application of the DAC6 main benefit test and its hallmarks in Belgium, France, Germany, Ireland, Luxembourg, the Netherlands, Portugal and Spain. They examine the general features of this test and of its related hallmarks, followed by specificities of the interpretation of their practical application by the competent authorities of those countries, whenever applicable, considering typical structures.
Profits and Losses of Foreign Permanent Establishments: The Optional Branch Exemption Regime
Authors: Mastellone P.
Published: December 2023

The author, in this article, discusses article 14 of the Internationalization Decree, which allows taxpayers to opt for a branch exemption in respect of the profits and losses of a foreign permanent establishment as an exception to the credit method.
Anti-Avoidance Rules in Recent Tax Treaties
Authors: Law S.B.
Published: December 2023

The author, in this article, examines how countries have used the anti-avoidance provisions contained in the OECD Model (2010) in recent tax treaties to deal with inappropriate structures involving passive income, such as dividends, interest, royalties and capital gains.
Managing Tax
Disputes – Some Legal and Practical Strategies
Authors: Sanghvi S. , Sagar S.
Published: December 2023

India is seen as a complex jurisdiction from a tax perspective and
this gives rise to a large number of tax disputes. In this article, the authors
look at the dispute resolution mechanisms in India and explain how strategies
may be developed in order to manage tax disputes.
Government Introduces Legislation To Amend Transfer Pricing Rules
Authors: Butler M. , Pengelly J.
Published: December 2023

This article analyses the proposed amendments to Australia’s transfer pricing legislation, which will apply to Australian residents and Australian permanent establishments that have cross border dealings with related enterprises. The changes are controversial since they apply retrospectively to 2004.
Securities Lending and Repo Transactions: Canadian Income Tax Considerations
Authors: Steeves C.J.
Published: December 2023

Securities lending and repo transactions are an important part of the efficient operation of capital markets in Canada. Under Canadian tax law, the same technical rules generally govern the tax treatment and characterization of securities lending and repo transactions. This article provides a summary of the important Canadian federal tax considerations relevant to securities lending and repos, and analyses the impact of the Canadian tax rules.
Extract of Important Conclusions of the Kúria (Supreme Court of Hungary) Regarding Taxpayers’ Rights in Judicial Review Procedures for the Years 2017 to 2021
Authors: Darák P.
Published: December 2023

The fundamental rights of the taxpayer are set out in the Hungarian Constitution and statutory laws. The effectiveness of these rights is often further elaborated in court decisions. In this article, the author first summarizes the context of, and then presents extracts from, these decisions.
Opinion Statement ECJ-TF 3/2018 on the ECJ Decision of 12 June 2018 in Bevola (Case C-650/16), Concerning the Utilization of “Definitive Losses” Attributable to a Foreign Permanent Establishment
Authors: CFE ECJ Task Force
Published: December 2023

This CFE Opinion Statement, submitted to the European Institutions in November 2018, discusses the ECJ’s decision in Bevola (Case C-650/16), which reaffirms that the concept of “definitive losses” first established in Marks & Spencer (Case C-446/03) and refined, inter alia, in Commission v. United Kingdom (Case C-172/13) is still applicable to permanent establishments and that the standard for testing comparability continues to be related to the aim pursued by the national provision at issue. Further, the CFE invites the EU to consider harmonizing measures that will introduce immediate loss utilization with a recapture mechanism.
Conflicts of Income Allocation in Tax Treaty Law: The Differing Opinions of the Austrian Federal Ministry of Finance and the OECD
Authors: Lang M.
Published: December 2023

In this article, the author considers the differing views of the Austrian Federal Ministry of Finance and the OECD regarding conflicts of income allocation in treaty law by way of a recent legal opinion given by the Ministry.
The OECD/G20 Base Erosion and Profit Shifting Initiative and the 2019 Tax Reform in Japan: Revisions to the Earnings Stripping Rules and the Introduction of Hard-to-Value Intangibles into Transfer Pricing
Authors: Hagelin J. , Muto S.
Published: December 2023

This article analyses the international aspects of the Japanese tax reform of 2019 relating to Actions 4 and 8-10 of the OECD/G20 Base Erosion and Profit Shifting initiative, which includes revisions to the earnings stripping rules and the implementation of an approach to hard-to-value intangibles into domestic transfer pricing legislation.
Tax Transparency and Disclosure in Spain
Authors: Serrano Antón F.
Published: December 2023

This article deals with the various tax transparency and disclosure provisions in Spanish law with particular reference to disclosure, exchange of information, and the OECD/G20 Base Erosion and Profit Shifting initiative and EU directives and law.
Court Ruling on Whether the Warehouse of an Online Sales Business Constitutes a Permanent Establishment
Authors: Oka N.
Published: December 2023

The author considers several recent Japanese court cases that shed light on the issue discussed in the final report on OECD Action 7 (BEPS).
A Rethink of Location-Specific Advantages with an Analysis of the Chinese Approach
Authors: Peng C. (X.)
Published: December 2023

This article aims to provide an overview of the current debate on location-specific advantages (LSAs) and their implications for the future of transfer pricing research. With a special focus on the Chinese approach to LSAs, it compares the views of the OECD, the United Nations and the United States. Furthermore, it analyses LSAs from a conceptual, economic and transfer pricing perspective. In particular, this article identifies three issues arising from the LSA debate, namely the conflict between taxing MNEs and the arm’s length principle, the data constraints on local comparables and the increased concerns regarding marketing activities.
The Reduced VAT Rates Applicable to Electronic Publications in Finland
Authors: Ruohola T. , Jääskeläinen T.
Published: December 2023

In this article, the authors discuss both the legislative process that led to Finland’s adoption of Council Directive 2018/1713 and its implementing process. The authors also examine the positive effect that the amendments will have on neutrality among physical and electronic forms of publications, but highlight the interpretation issues that will remain open until administrative practice develops.
Some current issues of fiscal policy and taxation
Authors: Waidyasekera D.D.M.
Published: December 2023

Against the background of increasing government expenditure and
declining tax revenues, the author discusses the main fiscal policy issues that
require attention, including simplification of the income tax system and
broadening of its tax base, the suitability of indirect taxes, tax evasion
problems and compliance and administrative procedures.
A Wealth Tax for the United States – Why, How and Observations
Authors: Stotzer T.R.
Published: December 2023

This article examines three interrelated topics: (i) the motives behind a US wealth tax; (ii) the mechanics of the most recent US wealth tax proposals, potential impediments to enactment and certain critiques and observations; and (iii) potential alternatives, including increasing income tax progressivity, implementing VAT and reforming capital gains taxation.
Reputational Tax Risk Management in Alternative Investment Fund Structures
Authors: Dongen T.J.C. van
Published: December 2023

Reputational tax risk management is an important topic for multinational enterprises and is slowly gaining traction in the alternative investment industry. This article commences with a short consideration of the background to reputational tax risk management, followed by practical suggestions regarding reputational tax risk management in the alternative investment industry.
The Compatibility of the Netherlands Taxation of Dividends Derived by
Foreign Shareholders with EC Law
Authors: Vroom A.
Published: December 2023

In this article, the author discusses the compatibility with EC law of
two Netherlands Corporate Income Tax Act provisions imposing potential
Netherlands tax liability on dividends distributed to foreign corporate
shareholders.
Are Royalties Dutiable? A Tango between Transfer Pricing and Customs Valuation
Authors: Kuijper S. , Long E.Y. , Schippers M.L. , Bongard B. van den
Published: December 2023

This article provides a theoretical framework on the interaction between transfer pricing and customs valuation with a specific focus on the treatment of royalties. In addition, the article provides the transfer pricing and customs analysis of a case study regarding the commonly seen structure of the fixed rate royalty and residual royalty model.
Critical Insights into the Tax Regime Applicable to a Transfer of a Business by an “Italian Permanent Establishment” in Exchange for Shares of the Transferee
Authors: Fuccio A. , Villa R.
Published: December 2023

In this note, the authors provide some critical insights on Ruling No. 63/E of 9 August 2018, which clarifies the Italian tax treatment of a transfer by a foreign tax resident transferor of an Italian business in exchange for shares of an Italian tax resident transferee. They also set out the relevant legal reasoning and logic based on which full tax neutrality should also be granted when the transferee is non-resident.
New Switzerland–Germany and Switzerland–United Kingdom Agreements: Does Anyone Offer More than Switzerland?
Authors: Rivolta A.
Published: December 2023

This article examines the new “Swiss Standard”, which is reflected in new agreements with Germany and the United Kingdom, including its potential to counter tax evasion and avoidance and whether or not it has an equivalent effect to the automatic exchange of information.
Will Brazil Finally Tax Dividend Income?
Authors: Costa P.
Published: December 2023

In 1995, Brazil began allowing corporations to deduct distributed earnings and profits from income while also exempting dividends from taxation at the shareholder level. Over the past three decades, elected officials from across the political spectrum have sought without success to change that system, which critics claim unfairly rewards taxpayers at the top of the income pyramid. Paulo Costa explains why, facing economic headwinds and government coffers depleted by the COVID-19 pandemic, the new government of President Lula might finally succeed.
Cross-Border Outsourcing – Issues, Strategies and Solutions
Authors: Mies H.
Published: December 2023

This article, which was drafted on the occasion of the 68th Congress
of the International Fiscal Association in Mumbai, India, addresses tax-related
issues, strategies and solutions regarding cross-border outsourcing.
Guidance Issued on Profit Attribution to Permanent Establishments
Authors: Dijkman J. , Buck S. de , Brouwers D.
Published: December 2023

On 27 January 2011 the State Secretary for Finance published a decree on the attribution of profits to permanent establishments for Dutch corporate income tax purposes. The Decree was issued in response to the OECD's "Report on the Attribution of Profits to Permanent Establishments", the 2008 revised commentary to Art. 7 of the OECD Model Tax Convention and the 2010 release of a new Art. 7 of the OECD Model (including commentary).
Recent Amendments to the German Tax Rules on Rollover Relief
Authors: Weiss M.
Published: December 2023

This article describes recent amendments to the German rules on rollover relief enacted following a lengthy academic debate and the ECJ decision in Commission v. Germany (Case C-591/13). For certain assets held in a domestic permanent establishment, taxpayers can now spread the tax payment over a period of five years instead of paying tax immediately upon disposal if assets attributable to a permanent establishment in the European Union or European Economic Area are newly acquired.
Significant Amendments to Transfer Pricing Legislation: Rules Become
Broader in Application and Stricter in Terms of Penalties
Authors: Filippou E.P.
Published: December 2023

The key provision of the Greek Income Tax Code has been revised
significantly in the past two years. This article considers the impact of these
changes with regard to the scope of application of the relevant provision, an
increased level of compliance obligations and stricter penalties.
A Comparative Analysis of the Amended Netherlands Tax Loss Relief Rules
Authors: Kraak P.
Published: December 2023

In this article, the author analyses and compares the loss carry-over rules in the Netherlands, Germany, France and the United Kingdom.
Towards a Neutral and Effective VAT Treatment of Bad Debt Relief
Authors: Doesum A.J. van , Sanderson P.
Published: December 2023

The EU VAT Directive contains a mechanism for VAT bad debt relief. Member States may set conditions for such bad debt relief. The conditions that are being applied differ per Member State. Moreover, some Member States apply overly onerous conditions. The authors analyse the conditions to bad debt relief and call for action to simplify and harmonize so that a fairer, more balanced and more neutral system for bad debt relief can be achieved.
Opinion Statement FC 1/2014 of the CFE on Technical Changes To Be Included in the Next Update to the OECD Model
Authors: CFE Fiscal Committee
Published: December 2023

This Opinion Statement relates to the Public Discussion Draft “Technical Changes to be included in the next update to the OECD Model Tax Convention” released by the OECD on 15 November 2013.
Revised Transfer Pricing Regulations in Nigeria – Implications for Transfer Pricing Audit Process
Authors: Adegite V.
Published: December 2023

The Nigerian tax authority published the revised Transfer Pricing Regulations in 2018. In this article, the author examines the implications of the revised Regulations on the transfer pricing audit process.
Diverted Profits Tax: Growing Pains
Authors: Joseph A.
Published: December 2023

Since its introduction in 2017, Diverted Profits Tax has caused apprehension and confusion. The rush to step ahead of the OECD’s BEPS initiatives and impose this tax will continue to stir debate for some time to come.
A Comparative
View of Transfer Pricing Documentation: New Chinese Rules and the EU Code of
Conduct
Authors: Yang Houlu
Published: December 2023

In early 2009, China released the Tentative Implementation Rules for
Special Tax Adjustments, commonly known as Notice 2, which sets forth, for the
first time, detailed contemporaneous transfer pricing documentation
regulations. This article analyses the key issues underlying the Chinese
transfer pricing documentation rules, in the context of a comparative study of
EU documentation requirements.
Proving the Tax Law of China in a Foreign Court
Authors: Sharkey N.C.
Published: December 2023

In this article, the author examines the difficult area of proving a
foreign law by reference to China and taxation. In doing this, he identifies a
major tension between the interaction of China’s legal system with those of
foreign countries given China’s weak rule of law and major economic
significance. The article also challenges the idea that tax law cannot
generally be presumed upon in proving law.
Investing in Italian Real Estate Assets through Collective Investment Vehicles: An Overview of Tax Implications for Foreign Investors
Authors: Salvadori di Wiesenhoff V.
Published: December 2023

The author provides a comprehensive analysis of the Italian tax regime for real estate investment funds and SICAFs, focusing on both the vehicles and the investors.
A Practical Approach to Determine the Influence of the OECD Multilateral Instrument on North American Tax Treaty Networks
Authors: Becerra J.A.
Published: December 2023

This article examines the practical influence of the OECD Multilateral Instrument, with particular focus on the extent to which it will modify, if at all, and affect the interpretation and application of the existing tax treaties of selected North American countries, i.e. Canada, Mexico and the United States.
Trusts and Taxation in Switzerland
Authors: Gillioz P. , Fragnière Meyer N.
Published: December 2023

The authors, in this article, examine the treatment of trusts and the taxation of settlors and beneficiaries resident in Switzerland. They also explore the advantages and disadvantages of modifying trust deeds before and after the settlors and/or the beneficiaries move to Switzerland and become Swiss taxpayers.
Some Issues Relating to the Application of Hong Kong’s CRS Rules
Authors: Chan A.
Published: December 2023

In this article, the author contrasts terminology used in the OECD Common Reporting Standard and the Hong Kong rules to adopt it, which are set out in amendments to the Inland Revenue Ordinance in 2016 and 2017. The article discusses the inconsistencies in logic in the Hong Kong terminology. The author also compares the legislative practices of other offshore finance centres on the use of the same terminology, and advocates legislative amendment to rectify the discrepancies.
Resolving Treaty Disputes: The Challenges of Mutual Agreement Procedures with a Special Focus on Issues for Developing Countries in Africa
Authors: Oguttu A.W.
Published: December 2023

This article explains the procedures and the responsibilities of the parties involved in mutual agreement procedures (MAPs), analyses the factors that can hinder their effective implementation and provides recommendations for addressing the challenges that developing countries in Africa may face.
Stapled Structures and Infrastructure Projects
Authors: Joseph A.
Published: December 2023

The author considers the role played by stapled structures in infrastructure projects in Australia and the latest state of the law.
2023 WU Global Transfer Pricing Conference: “Transfer Pricing Developments around the World”
Authors: Moura M.H. Barbosa , Frenkenberger T.
Published: December 2023

This article highlights key points discussed during the 2023 WU Global Transfer Pricing Conference “Transfer Pricing Developments around the World”, organized by the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business), and summarizes the topics analysed during the eight sessions of the event.
An introduction to the taxation of financial instruments
Authors: Munch D.A.
Published: December 2023

This article provides an overview of the taxation of financial
instruments in Denmark. A wide range of such instruments is considered
(options, forward contracts and swaps; bonds adjusted based on developments in
prices etc; bonds; convertible bonds; shares in companies; shares in CFCs;
shares in investment companies; shares in investment associations; share
lending; and shares in transparent entities) from the perspective of
individuals, companies and pension funds.
Swiss Taxation of Equity-Based Compensation Instruments – Part 1
Authors: Meier M.
Published: December 2023

The taxation of executive compensation is an important element in Switzerland’s international attractiveness. In this regard, equity-based compensation instruments are frequently used by multinational enterprises for their key employees. However, various complex Swiss tax issues arise both for the employer and the participants, in particular when participants of equity-based compensation schemes relocate and thus import or export their employee participations. In practice, it is advisable to obtain a Swiss tax ruling for the purpose of uniform tax assessment of the participants and proper tax treatment in intercantonal and international scenarios.
Ordinance 427/13 on Interest Spread for Transfer Pricing Purposes
Authors: Peixoto Orsini E. , Marcondes D.G. Peixoto Orsini
Published: December 2023

This article considers a 2013 ordinance that regulates acceptable interest rates for related-party loans, as well as discussing the shortcomings that have been noted by critics of the ordinance.
Digital Services Tax in the European Union: Unsuccessful Implementation of Pillar One? Challenges Ahead
Authors: Screpante M.S.
Published: December 2023

The article explores the current state of digital services taxes in Europe in light of the puzzling and ambiguous implementation of Pillar One, which, rather than creating a level playing field for business, is destabilizing the tax arena.
Voluntary Payment of Taxes and Voluntary Adjustments of Transfer Prices
Authors: Vegt J. van der , Sporken E.
Published: December 2023

The current international tax climate is high on the political agenda. Public pressure and possible consumer actions may lead to voluntary payments of corporate income taxes. Sometimes tax authorities morally appeal to companies and individuals to make tax payments also where the statute of limitations has expired. At other times tax authorities make repayments of taxes on the basis of hardship considerations. The present survey of the International Transfer Pricing Journal will focus on the phenomenon of voluntary payment of taxes and voluntary adjustments of transfer prices. Country report on the Netherlands.
The French Supreme Administrative Court Provides Useful Clarifications on the Deduction of Government Subsidies from the Cost Base in Applying Cost-Based Transfer Pricing Methods
Authors: Silberztein C. , Granel B.
Published: December 2023

In a decision dated 19 September 2018 (Philips France SAS), the French Supreme Administrative Court ruled that, in the context of contract R&D services provided by a French taxpayer and charged at cost-plus to a foreign associated enterprise, the deduction of government subsidies from the cost base does not by itself suffice to characterize a transfer of profits abroad. This decision, which is final, as it cannot be appealed, puts an end to the Philips France SAS litigation case that started in 2014 with a contrary decision by a French Administrative Tribunal.It provides useful clarifications on the application of the cost-plus method and clarifies the rules concerning the burden of proof in transfer pricing matters.
Cost-Plus Contract R&D Services: Should State Subsidies Be Deducted from the Cost Base?
Authors: Silberztein C. , Granel B.
Published: December 2023

This article examines the ruling by the Lower Administrative Court of Montreuil in the Philips France SAS case, in which the Court contemplated whether state subsidies should be deducted from the cost base for transfer pricing purposes.
Retroactive Effect of Mergers under Luxembourg Tax Law: Is Time Travel Actually Possible?
Authors: Schaffner J. , Dahan B.
Published: December 2023

In this note, the authors discuss the circumstances in which a merger between domestic companies in Luxembourg might be given retroactive effect. To the extent this occurs, operations carried out by the absorbed company during the intervening period may be taken into account, for tax purposes, at the level of the absorbing company. Expenses incurred or losses realized by the absorbed companies may, therefore, be deducted from the taxable profit of the acquiring company.
CESOP – The Priorities and the Nice-to-Knows
Authors: Zutt J. , Timmermans M.
Published: December 2023

In order to fight VAT fraud in the e-commerce sector, the Member States have decided to implement a monitoring system for cross-border payments originating from payers residing in the European Union. In this article, the authors discuss the new VAT record keeping obligations that will apply for payment service providers as of 1 January 2024.
The Netherlands Supreme Court Decides a Triangular Case under Article 15 of the OECD Model
Authors: Pötgens F.P.G. , Geerse P.I.M.
Published: December 2023

In this article, the authors discuss the Supreme Court’s decision in BNB 2019/164, wherein it was held that the PE concept in the tax treaty between the employee’s residence state and the work state is decisive under article 15(2)(c) of the OECD Model (2017) rather the treaty between the employer’s residence state and the work/PE state. Nevertheless, it found that there was neither a fixed place of business PE nor a construction or project PE in the case at hand.
Multinational Enterprises, Transfer Pricing and Value Chain Analysis in Latin America Following the OECD/G20 Base Erosion and Profit Shifting Initiative
Authors: Huibregtse S. , Muñoz Rodríguez S.C. , Severini B. , Delgado Perea A.
Published: December 2023

In this article, the authors examine the implications of the proposals in relation to the OECD/G20 Base Erosion and Profit Shifting initiative for the transfer pricing practices of a number of Latin American countries, with special emphasis on value chain analysis.
Transfer Pricing and Customs Valuation: WCO Guide Published
Authors: Cooper J.L.
Published: December 2023

The interface of customs valuation and transfer pricing is a challenge not only for business, but also for revenue authorities who often struggle to reconcile and administer the two sets of rules. Recognizing this, on 24 June 2015, the World Customs Organization (WCO) published the “WCO Guide to Customs Valuation and Transfer Pricing” that aims to assist customs officials in understanding and navigating the relationship between customs valuation and transfer pricing.
Navigating the Anti-Money Laundering Landscape – The Role Companies Play in Protecting the Financial System
Authors: Snijder-Kuipers B.
Published: December 2023

Money laundering and the financing of terrorism are serious issues. The stability of the financial system is crucial to a stable society. In this article, the author will focus on three threats to society: corporate compliance, cash and cross-border transactions. The author provides an overview of the level of risk for the different types of politically exposed persons (PEPs). An overview of PEP functions per EU Member State is also included.
An Overview of the HOT Proposal
Authors: Popa O.
Published: December 2023

This note describes measures proposed by the European Commission on 12 September 2023 to enable micro, small and medium-sized enterprises operating in the European Union through permanent establishments to interact only with the head office tax administration (i.e. the HOT proposal).
European Court of Justice Ruling in Deutsche Bank Case: VAT Treatment of Portfolio Management
Authors: Zutt J. , Rey L. van
Published: December 2023

In the Deutsche Bank case, the ECJ has decided that the exemption for transactions in securities is not applicable to portfolio management services for individual clients. The ECJ ruled that portfolio management is a single supply, which also contains VAT taxable elements and should therefore be excluded from the VAT exemption. In some EU countries this decision will have a significant impact for the asset management industry as portfolio management for clients was regarded as a service which could (partially) benefit from the exemption.
Addressing the Tax Consequences of UCITS IV Cross-Border Mergers in Europe: Extending the Merger Directive as a Solution? – Part 2
Authors: Xuereb S.
Published: December 2023

This two-part article examines whether or not an extension of the rationale of the Merger Directive (2009) could be used to achieve tax neutrality in regard to cross-border mergers of UCITS in terms of the UCITS IV Directive. Part 1 analysed the UCITS IV regime, the Merger Directive and the various prototypes/mechanisms that may be used by states in the design of their domestic investment fund taxation systems. Part 2 analyses the taxable events that may arise in relation to a transaction.
Notional Interest Deduction Regime Introduced
Authors: Leone F. , Zanotti E.
Published: December 2023

In this note, the authors explain the new notional interest deduction, which applies to equity increases after the 2010 fiscal year and provide initial comments as to how this new rule could favourably impact Italian investments carried out by foreign groups. Tax authority guidelines will likely be issued in the near future and will hopefully clarify some open issues.
Netherlands Court of Appeals Decides against Taxpayer in a Triangular Case Involving the Taxation of Ship Employment Income
Authors: Mooij H.
Published: December 2023

The Netherlands Court of Appeals of 's-Hertogenbosch in 2009 held against an individual taxpayer in a triangular case involving the taxation of ship employment income and the Belgium-Netherlands Income and Capital Tax Treaty (2001) and the Belgium-Nigeria Income Tax Treaty (1989).
Changes in the Transfer Pricing Landscape and Impact of the BEPS Project
Authors: Ribeiro E. , Conti H. de
Published: December 2023

The author reviews recent changes in the Brazilian transfer pricing landscape, as well as the implementation of various recommendations from the OECD BEPS project.
Let’s Talk about Trust: The Treatment of Foundations as Trusts under the Common Reporting Standard – A Call for a New Approach
Authors: Jackson G.
Published: December 2023

In this article, the author discusses the inadequacies of the mandated treatment of Foundations under the OECD Common Reporting Standard (which draws a direct analogy with the treatment of trusts), the uncertainty that brings, and the concomitant risks of regulatory breaches. The author proposes a more consistent and accurate approach.
The OECD Multilateral Instrument: A Canadian Perspective on the Principal Purpose Test
Authors: Kandev M.N. , Lennard J.J.
Published: December 2023

In this article, the authors consider the implications of the principal purpose test in the OECD Multilateral Instrument for Canada’s tax law, with specific reference to the Canadian general anti-avoidance rule, and the country’s case law and tax treaties.
A Call to Rewrite the Fundamentals of International Taxation: The OECD BEPS Action Plan
Authors: Herrington M. , Lowell C.
Published: December 2023

The authors provide an overview of the original OECD report on base erosion and profit shifting and the recently released action plan.
New VAT Liability for Non-Resident Suppliers of Electronically Supplied Services in Turkey
Authors: Ekinci E.
Published: December 2023

From 1 January 2018, a new VAT regime was introduced into the Turkish VAT Law that makes non-resident suppliers responsible to collect, declare and remit the VAT arising from their electronically supplied services to non-registered individuals in Turkey. In this article, the author gives an overview of the new VAT regime.
Taxing Banking Transactions in Pakistan
Authors: Hassan B.
Published: December 2023

In this article, the author analyses taxes on banking transactions under the Income Tax Ordinance 2001, introduced in the wake of poor tax compliance through informal economic activity and underreporting of formal income. The article finds the impact of banking-transaction taxes on broadening the tax base, discouraging the informal economic activity and enhancing the tax revenue to be insignificant.
General Court
Authors: Xygka A.
Published: December 2023

This overview highlights the General Court’s decision on (i) upholding the Commission’s decision on Belgian excess profit scheme and (ii) annulling Commission’s decision on the Spanish tax scheme deduction for indirect acquisitions of shareholdings.
Could VAT Techniques Be Used To Implement Border Carbon Adjustments?
Authors: McLure C.E.
Published: December 2023

In this article, the author examines whether techniques patterned after VAT techniques could be used to implement a “carbon-added tax” and the associated border carbon adjustments required to convert an origin-based tax on emissions to a destination-based tax. The author also considers the (in)feasibility of a retail carbon tax.
Wording of Tax Decisions – The United Kingdom
Authors: Gammie M.
Published: December 2023

In this note, the author outlines various aspects regarding tax decisions in the United Kingdom. After providing a brief overview of the UK tax appeal system and the jurisdiction and composition of the various tax courts, the author looks at the documents submitted as part of the appeal process that judges can draw upon in writing decisions, the rules regarding the decision itself, the writing of the decision and post-decision matters and further appeals.
US Dividend Equivalents: Repos and Swaps Subject to Dividend Tax
Authors: Carman P.
Published: December 2023

The author considers temporary and proposed regulations on the US characterization of dividend equivalent payments to non-US persons, issued on 23 January 2012 by the US Internal Revenue Service.
EU VAT E-Commerce Package – Trust in MOSS and in Electronic Interfaces as Collection Methods
Authors: Sol J. (Jordi)
Published: December 2023

On 1 July 2021, the VAT e-commerce package will enter into force in the European Union, affecting many EU and non-EU businesses importing low-value goods into the European Union, making intra-EU distance sales of goods and supplying services other than TBE services. In addition, electronic interfaces will become deemed suppliers under certain circumstances. In this article, the author makes a detailed analysis of the new VAT e-commerce rules based on the Explanatory Notes, providing the reader with an easy-to-read document as well as describing the impact of the mentioned changes for businesses.
Japan’s Corporate Income Tax: 1995-2021
Authors: Masui Y.
Published: December 2023

In this article, Professor Yoshihiro Masui provides his personal view of the evolution of Japan’s corporate income tax between 1995 and 2021. The year 1995 was taken as the starting point of his story because it was in 1995 that he first became involved with the Bulletin for International Taxation.
The Anti-Avoidance Rule Regarding Permanent Establishments in Third Countries of the OECD/G20 Base Erosion and Profit Shifting Project: Is It Necessary?
Authors: Hernández González-Barreda P.A.
Published: December 2023

In this article, the author considers the OECD/G20 Base Erosion and Profit Shifting Project as it affects permanent establishments (PEs) and third countries. Having examined the proposal, he concludes that the rule has several flaws, is difficult to apply and may not be necessary.
8th Annual IFA
Conference on International Taxation in Berlin
Authors: Perdelwitz Andreas
Published: December 2023

On 13 and 14 November 2008, the8th Annual Conference
on International Taxation, organized by the German International Fiscal
Association (IFA) Branch in cooperation with Beck-Seminars, was held in Berlin.
The Conference involved several presentations on primarily the latest German
national developments with regard to international taxation, which were
followed by panel discussions. This note summarizes the proceedings of the
Conference.
Recent Case Law on Captive Insurance Companies: What Is the Right Transfer Pricing Approach?
Authors: Reyneveld J. , Bonekamp M.
Published: December 2023

A recent court case decided by the District Court in The Hague regarding a captive insurance company involved in reinsurance activities seems to follow the current general approach of the Dutch tax authorities on captives. This article considers this decision in light of existing Dutch case law and the UK Dixons case. There is a striking difference in the approaches taken by the District Court in The Hague and the UK Special Commissioners concerning the Dixons case. Where the decision in the Dixons case focuses on the appropriateness of the transfer pricing method, the District Court in The Hague reclassifies the transactions under review. This article discusses these different approaches to captives. The issue will in particular be considered in the context of the OECD Guidelines.
The New Asian Tigers: Tax Update on the Mekong Region
Authors: Sheehan J. , O’Connell C. , Cobarrubias B. , Chiarapurk E.
Published: December 2023

The five countries of the Mekong region, namely Cambodia, Laos, Myanmar, Thailand and Vietnam, are part of an important growth area in ASEAN. While tax administrations in other parts of the world are grappling with issues of tax avoidance amid increasing scrutiny of international tax structures, the tax policies of the Mekong region countries are geared towards more effective tax management while at the same time keeping tax rates competitive to attract foreign investment. Mekong region tax authorities are also continuously enhancing tax collection measures, and there is an increased focus on transfer pricing in some countries. This article presents a brief analysis of some recent and significant tax changes in the Mekong region countries.
The New Spanish Reporting Obligation for Assets Located Abroad and Its
Compatibility with EU Law
Authors: López López H.
Published: December 2023

In this article the author analyses the new reporting obligation
contained in Law 7/2012 of 29 October regarding assets and rights located
abroad. In particular, the compatibility of the reporting obligation with EU
law is examined. The author concludes that the provision, as currently worded,
is not proportionate and is, therefore, in conflict with the free movement of
capital granted by EU law.
Combining Modern Technology and Real-Time Invoice Reporting to Combat VAT Fraud: No Revolution, but a Technological Evolution
Authors: Jafari S.
Published: December 2023

An invoice reporting system based on blockchain technology can offer confidentiality, 100% VAT fraud detection and advantages for businesses. In order to fully understand the benefits that a blockchain-based invoice reporting system can bring to VAT, in this article the author gives an example of how blockchain technology can actually be used to fight VAT fraud, without making things overly complicated. The author also explains that implementation would not be a revolution of the VAT system, but only a technological evolution.
The Volkswagen Case and the Secondary Tax on Companies: Part 2 – The Effect on the Taxation of Dividends with Emphasis on Deemed (Constructive) Dividends
Authors: Hattingh J.
Published: December 2023

In Part 1 of this article, published in the October Issue of the Bulletin for International Taxation, the author examined the recent South African High Court case of Volkswagen regarding the secondary tax on companies. In Part 2, the author considers the implications of the case for the taxation of dividends in the country and, more generally, deals with the OECD Model Tax Convention's dividend definition as applied to deemed (constructive) dividends.
Chinese Taxation of Import Leasing of Aircraft
Authors: Duan A.
Published: December 2023

This article analyses Chinese taxes on imported leasing aircraft, specifically stamp tax, enterprise income tax, import VAT, customs duty and city maintenance and construction tax.
The Internal Revenue Service gives its regards to disregarded entities -
the proposed conduit financing regulations
Authors: Golden D.A.
Published: December 2023

On 19 December 2008, the US Treasury Department and the IRS issued
proposed regulations under the conduit financing provisions of Sec. 7701(l) of
the Internal Revenue Code and Treasury Regulation Sec. 1.881-3, which address
primarily financing arrangements that are effected through entities that are
generally disregarded under US tax law, such as "check-the-box" branches. In
general terms, the proposed regulations take the view that an entity that is
generally disregarded for US tax purposes can nevertheless be a "person" for
purposes of the conduit financing rules. This article considers the
implications of the proposed regulations on US tax planning.
Recent Legislation on the Tax Regime Applicable to Inbound Workers, Qualified Lecturers and Researchers
Authors: Serbini S. , Battiloro E.
Published: December 2023

This contribution describes the recently amended regime providing for tax incentives to foreign and/or Italian workers and lecturers/researchers transferring their residence to Italy.
The EU Dispute Resolution Directive (2017/1852) and Fair Trial Protection under Article 47 of the EU Charter of Fundamental Rights
Authors: Carolis D. De
Published: December 2023

This article explores the potential impact of article 47 of the EU Charter on the EU Dispute Resolution Directive (2017/1852), in particular, whether the principle of fair trial protection may be relied upon in order to improve the level of taxpayer protection within the field of double taxation dispute resolution procedures.
International Association of Tax Judges Webinar: Tax Courts during the COVID-19 Pandemic
Authors: Michel B.
Published: December 2023

This report summarizes the webinar held on 25 September 2020 by the judges of the International Association of Tax Judges on the topic of the functioning of tax courts around the globe during the COVID-19 pandemic.
New Formal APA Programme
Authors: Duffy J. , Bailey T.
Published: December 2023

Ireland has introduced a formal APA programme effective from 1 July 2016 which facilitates the initiation of bilateral APAs in accordance with BEPS best practice. Information on concluded APAs may be exchanged with other jurisdictions under either the OECD spontaneous exchange of information regime or the EU Directive on exchange of information.
The Automation (and Integration) of Tax Accounting
Authors: Booth P. , Cowan S.
Published: December 2023

Whilst companies have long been required to report their tax figures
in the financial statements, in recent years there has been increasing pressure
for the process to be faster, cheaper, better controlled and more accurate. In
this article, the authors consider the drivers for change, the challenges faced
in meeting the demands of stakeholders, and the options available including the
benefits and pitfalls of automation and implementing tax reporting
software.
Tax Incentives for Investment in Innovative Start-Ups and SMEs
Authors: Serbini S. , Battiloro E.
Published: December 2023

This contribution describes the Italian legislation on tax incentives provided to individuals and companies investing in innovative small and medium-sized enterprises (SMEs) and start-ups.
What Will Be in Tax Reform?
Authors: Sheppard L.A.
Published: December 2023

In this article, the author reports on the recent demise of the border adjustment tax and briefly describes the remaining elements of the proposed US tax reform.
Tax Issues Relating to Intangibles
Authors: Lee D. (Dennis) , Lee A. (Andrew)
Published: December 2023

The comparative survey articles are based on selected papers presented
at the Baker & McKenzie 28th Annual Asia-Pacific Tax Conference held in
Hong Kong on 1 and 2 November 2012. The 29th Annual Asia-Pacific Tax Conference
is expected to be held in Singapore in October 2013. For more information,
please contact Liane Tsang of Baker & McKenzie, Hong Kong by tel.: +852
2846 2358 or by e-mail: liane.tsang@bakermckenzie.com.
Opinion Statement of the CFE on X Holding (C-337/08)
Authors: Confédération Fiscale Européenne
Published: December 2023

This is an Opinion Statement prepared by the ECJ Task Force Members of the Task Force are: Axel Cordewener, Kelly Coutinho, Paul Farmer,
Daniel Gutmann, Volker Heydt, Michael Lang, Franck Le Mentec, Pasquale Pistone,
Albert Rädler, Stella Raventos-Calvo (Chair), Isabelle Richelle, Friedrich
Rödler and Servaas Van Thiel. The views expressed in this statement do not
necessarily represent the views of each individual member of the Task Force or
of organisations with which any of the members are associated. of the CFE on X Holding (C-337/08). Advocate General Juliane Kokott delivered her Opinion on 19 November 2009 and the ECJ decided the case on 25 February 2010. The CFE is the leading European association of 33 national tax advisory organisations representing over 180,000 tax advisers.
Hyperinflation in Argentina
Authors: Meloni E.O.
Published: December 2023

Argentina is again in the middle of another economic crisis with very high levels of inflation that may result in hyperinflation if the situation is not handled responsibly. The most pressing aspect is the inability of the country to service its external debt without a restructuring (voluntary or otherwise). This article provides a brief description of economic life in an inflationary environment, focusing on the financial and tax consequences for non-resident investors.
The Cairn Arbitration Award: Retrospective Taxation of Indirect Share Transfers in India Breaches Bilateral Investment Treaty
Authors: Jalan N. , Rao A.
Published: December 2023

This article discusses an Arbitral Tribunal’s award under a bilateral investment treaty in the Cairn case regarding India’s retrospective taxation of offshore indirect share transfers, including clauses on fair and equitable treatment and expropriation, and the concerns of the Indian government, noting the ongoing developments surrounding the case.