bluuebunny/crossref_metadata_2025 huggingface dataset:
Opinion Statement of the CFE ECJ Taskforce on Losses Compensation within the EU for Individuals and Companies Carrying Out Their Activities through Permanent Establishments
Authors: Confédération Fiscale Européenne
Published: December 2023

This is an Opinion Statement on losses compensation within the EU, prepared by the ECJ Taskforce
The members of the taskforce who took part in discussion of this statement were: Stella Raventos Calvo (chair), Isabelle Richelle, Philip Baker, Michael Lang, Pasquale Pistone, Daniel Gutmann, Volker Heydt, Franck Le Mentec, Albert Raedler, Axel Cordewener and Friedrich Roedler. The views expressed in this statement do not necessarily represent the views of individual members of the taskforce or of organisations with which any of the members are associated.
of the Confédération Fiscale Européenne (CFE). The CFE is the leading European association of 32 national tax advisory organisations representing over 180,000 tax advisers.
Towards a “Criminalization” of Tax Law: The French Approach
Authors: Gutmann D.
Published: December 2023

The author, in this article, traces the increasing criminalization of tax law in France. He begins by outlining the general approach of French practice and regulations before focusing on the distinction between abusive tax planning and tax fraud, as well as the debate over whether or not penalties have become too excessive and inflexible.
Turin Tax Court Denies Treaty Residence State Dividend Exemption Absent Source Taxation
Authors: Tripoli P.
Published: December 2023

This article discusses a recent decision of the Turin Tax Court wherein the Court ruled that an Italian taxpayer shall not benefit from a full corporate tax exemption on dividends received from a German subsidiary despite the tax treaty provision that exempted the dividends from residence taxation due to the fact that no source taxation was levied in Germany.
Supreme Court Decides That Marketing Activities Did Not Constitute Compensable Services
Authors: Wittendorff J.
Published: December 2023

The Danish Supreme Court has decided that marketing activities performed by Microsoft Denmark did not constitute a compensable service transaction towards a US group company and that the tax authorities were not entitled to make an estimated tax assessment because proper transfer pricing documentation was presented before the tax assessment was made.
Ensuring Appropriate Treaty Relief for Collective Investment Vehicles
Authors: Lawson K. , Sunderland K.
Published: December 2023

In this article, the authors examine the strong policy rationale for providing collective investment vehicles (CIVs) with effective mechanisms for claiming tax treaty relief, with special emphasis on the implications for CIVs of the OECD/G20 Base Erosion and Profit Shifting (BEPS) initiative.
Scandinavian Countries as European Holding Company Locations – Denmark, Finland, Norway and Sweden Compared
Authors: Zielke R.
Published: December 2023

Despite recent instability in the European Union, Scandinavian countries exhibit economic growth and stability. Three (Denmark, Norway and Sweden) are not in the Eurozone and one (Norway) is only a European Economic Area Member State. This article compares these countries’ holding company regimes and suggests consequent international tax planning strategies.
Effective use and enjoyment of services under EU VAT
Authors: Swinkels J.J.P.
Published: December 2023

In this article, the author analyses the European Court of Justice in
Athesia Druck. The author takes the view that this judgment has done serious
damage to the structure of the place-of-supply rules, in particular Art. 56 of
the VAT Directive and, consequently, to the effective-use-and-enjoyment
criterion laid down by Art. 58(b) of the Directive.
The Impact of the OECD Partnership Report (1999) on Tax Avoidance in Outbound Cases
Authors: Steindl M. , Stiastny M.
Published: December 2023

The OECD Partnership Report (1999) will soon celebrate its 15th anniversary. This article examines the effects that the principles set forth in the OECD Partnership Report may have on tax avoidance situations in which income is allocated to different taxpayers. Approaches to handling conflicts of income allocation are also discussed.
“Ceci n'est pas une Pipe”: The Notion of Tax Court under Article 267 of the TFEU
Authors: Garcia Anton R.
Published: December 2023

This article sheds light on the notion of “tax court” employed by the CJEU within the framework of article 267 of the TFEU. The significant volume of criticism and commentary targeted at theVaassen-Göbbels (Case 61/65) criteria suggest the need to agree on a definition of “tax court” for the purpose of referring a question for a preliminary ruling. The contradictions in the existing case law, however, have thwarted such attempts.
Rising Inequality in Western Tax Systems: Austria as an Example of the Transformation from Income-Based Taxation to Consumption-Based Taxation
Authors: Anderwald A-M.
Published: December 2023

This article focuses on how the Austrian tax system, as an example of many other EU and western tax systems, is moving towards consumption as a base of taxation. In so doing, it considers the implications of this trend for wealth accumulation and the resulting inequality of distribution.
Consistent Inconsistency: Charitable Donations and EU VAT – Review and Analysis
Authors: Gryziak B.
Published: December 2023

The VAT Directive does not provide any specific regulation on charitable donations. Most of the EU Member States try to somehow close the gap, either by adapting already existing provisions (zero-value approach or extended notion of commercial gifts of small value) or by enacting preferences on their own initiative (non-taxation or exemption of such donations). This principally concerns unsellable goods, i.e. goods that are still suitable for use but can no longer be placed on the market. The VAT Committee suggests the zero-value approach, but this approach is controversial and uncertain. Therefore, there is a need for a clearly defined VAT regime for charitable donations. In the author’s view, the economic destruction of unsellable goods by means of their donation appears particularly attractive.
Profit Attribution to Permanent Establishments – A Tax Treaty Perspective on the “Single Taxpayer” Approach
Authors: Law S.B.
Published: December 2023

In this article, the author provides a tax treaty perspective on the OECD’s Additional Guidance on the Attribution of Profits to Permanent Establishments, Action 7 – 2017 Public Discussion Draft, observing that countries which continue to follow article 7 of the pre-2010 OECD Model and the current UN Model would likely not accept the “single taxpayer” approach of attributing zero or minimal profits to a permanent establishment.
Seeking Certainty – Advance Ruling Practices
Authors: Nguyen T.V.
Published: December 2023

The comparative survey articles are based on selected papers presented
at the Baker & McKenzie 29th Annual Asia-Pacific Tax Conference held in
Singapore on 29 and 30 October 2013. The 30th Annual Asia-Pacific Tax
Conference is to be held in Hong Kong in November 2014. 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.
New Documentation Rules: More of the Same?
Authors: Gruendel K. , Jenni J.
Published: December 2023

Japan’s Ministry of Finance recently released revisions to the transfer pricing law and regulations to directly address what supporting material taxpayers will be requested to submit in an examination. In practical terms, the new rules make no significant change in the recommended steps for taxpayers in Japan, although they do make the expectations of the tax authorities more explicit and the need for documentation clearer.
Assessment Methods for Intangible Assets: Unwrapping the Italian Patent Box To Better Grasp What Is Inside and How Much It Is Worth
Authors: Zucchetti S. , Pallotta A. , Lanfranchi O.
Published: December 2023

In their previous article in this journal, the authors examined the technical aspects of the new Italian patent box regime introduced in 2015, which provides for a partial exemption of income arising from qualifying intellectual property rights. This second part of the article will primarily focus on valuations techniques to determine the economic contribution of the qualifying intellectual property assets to the overall income of the prospective beneficial taxpayer.
The Belgium-France Income and Capital Tax Treaty (2021): What’s New?
Authors: Wouters P-J.
Published: December 2023

On 9 November 2021, the Belgian and French Finance Ministers signed the Belgium-France Income and Capital Tax Treaty (2021) and Protocol (the “new tax treaty”). The new tax treaty, inspired by the Multilateral Instrument, is aligned with the existing international OECD principles and addresses concerns in the Belgian-French tax practice.
Interpretative Statement Issued by the Tax Authorities on the
Application of the Arm’s Length Principle to a Loan Guarantee Agreement
Authors: Gódor M.
Published: December 2023

The author considers recent guidance from the Hungarian tax
authorities on the application of transfer pricing adjustments to intercompany
transactions subsequent to a change in status as related parties.
Permanent Establishments and the Offshore Oil and Gas Industry – Part 2
Authors: Gelineck M. Stubbe
Published: December 2023

Following on from Part 1 of this article, which was published in Bulletin for International Taxation of April 2016, in Part 2 of the article, the author considers specific provisions involving the offshore oil and gas industry that are included in a number of tax treaties concluded by Denmark.
Stemming the Tide of Transfer Pricing: A Critical Evaluation of the Efficacy of Ghana’s Transfer Pricing Rules on Services
Authors: Ali-Nakyea A. , Owusu Demitia W.K.
Published: December 2023

Several countries have enacted transfer pricing regulations to address the problems associated with the pricing of intra-group transactions. Ghana enacted its transfer pricing regulations in 2012 to address issues relating to transfer pricing in the country. This article considers the efficacy of Ghana’s transfer pricing regulations in the context of services, specifically as regards the aim to defeat current artificial tax planning schemes.
An Evaluation of the Measures in Action 14 of the Action Plan of the OECD/G20 BEPS Initiative Intended to Make Dispute Resolution More Effective
Authors: Arora H.
Published: December 2023

Action 14 of the Action Plan, which is part of the OECD/G20 Base Erosion and Profit Shifting initiative, is intended to strengthen the mutual agreement procedure. This article discusses how these measures propose to minimize the risks of uncertainty and unintended double taxation.
Another High Court Decision on the EU Arbitration Convention (90/436)
Authors: Bjørnholm N. , Tolstrup B.
Published: December 2023

The application of the Arbitration Convention (90/436) has resulted in another Danish High Court ruling. Recently, the Eastern High Court reached a somewhat different result than the Western High Court ruling from 2016, which probably was the first time a court within the European Union decided in a case on the Arbitration Convention (90/436). Again, the issue in the present case was whether or not the taxpayer’s MAP request had been rightly denied by the Danish tax authorities on the grounds that it failed to state certain particulars listed in point 5 of the Code of Conduct. Again, the Court sided with the taxpayer but applied a different interpretation of the Arbitration Convention. This note discusses the decision and its ramifications.
Financial Leasing: Towards a Bright Future in China
Authors: Yang H.
Published: December 2023

In a Public Notice issued in September 2010, the State Administration
of Taxation has clarified the treatment of financial sale and leaseback
transactions. In addition, a one-year trial programme is in place in Tianjin
for the refunding of export VAT for ship financial leasing conducted in
Tianjin.
Offshore Banking Units: Welcome Changes to Applicable Rules
Authors: Joseph A.
Published: December 2023

Recent amendments have brought changes to the Australian rules applicable to offshore banking units. The author considers the prior provisions and the impact of the amendments.
New CFC Rules
Authors: Perrou K.
Published: December 2023

This note examines in detail the new CFC rules in article 66 of the Income Tax Code, which entered into force on 1 January 2014, including their compatibility with EU law.
Business Restructuring Amendments to Transfer Pricing Assessment Rules and New APA Procedure
Authors: Lin Y. (Yishian)
Published: December 2023

The Ministry of Finance has issued new rules regarding contemporaneous transfer pricing documentation, as well as preparation meetings that are part of the APA application process. The Ministry also recently released a tax order that provides an objective formula for calculating a “contribution rate” used to calculate taxable income of non-resident enterprises to reduce the tax liability when only limited functions and risks are carried out in Taiwan.
After Plastic Surgery: The BEPS-Proof Hungarian Intellectual Property Tax Regime
Authors: Csővári I.
Published: December 2023

Hungary’s special tax regime on intellectual property was amended as from 1 July 2016 in order to bring Hungarian tax law in line with OECD recommendations contained in the BEPS Action 5 Final Report.
Why No Corporate Tax Inversions to China?
Authors: Yang J.G.S. , Ouyang H.
Published: December 2023

Many US corporations have moved abroad, but none have relocated to China. This article reveals that both the United States and China have high tax rates. The United States offers a tax deferral on undistributed foreign earnings, but China does not. China, therefore, has the worst of both worlds.
Profit Split Method: Is It Becoming the Most Appropriate “Alternate” Method?
Authors: Timbadia B. , Suneja S.
Published: December 2023

In this article, the authors highlight the increasing move by the Indian tax authorities towards adoption of the profit split method of allocating profits of multinational enterprises which undertake operations in India, particularly in relation to marketing intangibles, permanent establishments and contract research and development centres. The article canvasses recent Income Tax Appellate Tribunal decisions and highlights the need for multinational enterprises to protect themselves from the tax authority’s newfound thirst for the profit split method by carrying out detailed functional analyses, which are comprehensively documented.
Can, and Should, the Parol Evidence Rule Be Invoked by or against the
Canadian Tax Authorities in Tax Litigation? Lessons from US
Jurisprudence
Authors: Pichhadze A. (Amir)
Published: December 2023

The purpose of this article is to distil lessons from US
jurisprudence as to whether the parol evidence rule can be used in tax
disputes. By applying these lessons to Canadian law, the article also
exemplifies how these lessons can be transplanted elsewhere as a source of
influence and guidance.
Belgian Companies
with Foreign Permanent Establishments: Offsetting of Losses
Authors: De Broe L. , Bammens N.
Published: December 2023

The authors, in this article, consider the implications of a recent
Belgian tax case involving foreign permanent establishments and the offsetting
of losses in Belgium (including the Velasquez doctrine)
with regard to both Member States of the European Union and third
states.
New Italian Tax Regime to Attract High Net Worth Individuals
Authors: Arginelli P. , Avella F.
Published: December 2023

This note discusses the new special tax regime for high net worth individuals, pursuant to which non-resident individuals transferring their tax residence to Italy can opt to pay a lump-sum substitute tax of EUR 100,000 per year, in lieu of ordinary taxation, on all of their non-Italian-sourced income.
Recent Developments Affecting Foreign Investors
Authors: Joseph A.
Published: December 2023

The author considers six recent developments in Australia that may
have an impact on foreign investors.
How Will the World Finally COP to the Realities of Pricing Carbon?
Authors: Sousa R.B.
Published: December 2023

Carbon pricing was high on the agenda at last year’s United Nations Climate Change Conference, known as COP26. Rafael Barbosa de Sousa explains what tax professionals need to know about carbon pricing and carbon taxation, and cautions policymakers to carefully consider all the consequences – intended and unintended – before enacting carbon taxes.
Introduction
Authors: Wijnen W.F.G.
Published: December 2023

In his Introduction to this Special Issue of the Bulletin for International Taxation, retired substitute judge Wim Wijnen provides the background to the Special Issue, and considers the various issues that taxpayers may encounter when appearing before tax courts in 25 countries represented in the International Association of Tax Judges.
Canada's New Open Door Policy towards Foreign Equity Investors in a
Comparative 33 Country Context
Authors: Boidman N.
Published: December 2023

This article examines how Canada taxes foreign investors on capital
gains arising from the disposal of shares in corporations governed by Canadian
corporate law or carrying on certain activities in Canada. It also features a
comparison of how 33 other countries treat these "inbound" investors.
TogliattiAzot: Russian Courts Endorse Simplistic Approach to Transfer Pricing Valuation
Authors: Chochiev A.
Published: December 2023

The recent judicial decisions in the transfer pricing case of TogliattiAzot, a large Russian producer of chemicals, have become highly controversial. On anything but strong legal grounds, the courts denied the taxpayer the right to use the transactional net margin method. Instead, the courts agreed with the position of the tax authority, which argued that the comparable uncontrolled price method should be used. This case demonstrates that Russian courts so far have been unable to delve into complex transfer pricing problems, opting instead to agree with the point of the tax administration.
Budget 2018 – Alignment of Domestic Law with BEPS Action Plans
Authors: Rao S. (Siddhesh)
Published: December 2023

In this article, the author examines the recent changes announced in India’s 2018 Budget to extend the scope of the business connection test in the Income Tax Act to bring it into line with the expanded definition of a permanent establishment in the OECD’s Multilateral Instrument. The article also discusses the introduction of the significant economic presence test, which aims to tax new business models in the digital space.
VAT status of the recipient of services
Authors: Swinkels J.J.P.
Published: December 2023

In its judgment in TRR, the European Court of Justice (ECJ) took the
view that, for the purposes of determining the place of supply of advisory
services supplied to them, entities that are engaged in both economic and
non-economic activities must be regarded as being engaged in economic
activities, even if they use the advisory services for their non-economic
activities. In this article, the author discusses the lack of clarity of the
legal provision to the same effect that will enter into force on 1 January
2010, and the consequences of TRR for the ECJ's doctrine of "asset labelling"
and its impact on the interest of certain recipients of services to set up VAT
avoidance schemes. Finally, the author questions the validity of the facts on
which the ECJ based its decision in TRR.
Australian Residence and Source Rules and the Implementation of the Multinational Anti-Avoidance Law and the Diverted Profits Tax
Authors: Nguyen H.K. (J.)
Published: December 2023

This article reviews the Australian residence and source rules, analyses their limitations and identifies the problems arising from application of these rules. It also considers the rationale for, and the effects of, the introduction of the Multinational Anti-Avoidance Law in 2016 and the Diverted Profits Tax in 2017.
Trends in Company Income Taxation with Special Reference to Merger and Acquisition Transactions
Authors: Gangemi B.
Published: December 2023

In this article, the author examines the major developments in company taxation in the recent past in Italy, focusing on those affecting merger and acquisition (M&A) transactions. Reference is also made to recent trends regarding anti-avoidance provisions, due to their effects on M&A transactions.
Social Security and Pensions Systems
Authors: Iyer S. , Gupta Puneet
Published: December 2023

This comparative survey aims to provide readers with an understanding of the social security and/or pensions systems in China, India, Indonesia, Japan, Korea (Rep.), Malaysia, Singapore and Thailand.
Transfer Pricing and Customs Valuation of Know-How Transfer Agreements
Authors: Rodríguez Cuadros M.A.
Published: December 2023

This article explains the treatment of transfer pricing and the customs valuation of know-how transfer agreements from a supply chain management perspective. When third companies transfer their know-how to related companies that are involved in cross-border transactions, the paid value for having used the know-how could be taxed at the end with customs duties and other import taxes (e.g. import VAT).
Transfer Pricing Amendments in Budget 2017
Authors: Bilaney S.K.
Published: December 2023

Budget 2017 introduced significant changes to Indian transfer pricing regulations. These changes are made in response to recommendations under Action 4 of the OECD/G20 BEPS report and also with the aim to align transfer pricing regulations to global best practices.
Permanent Establishment Regulations for Banks and Insurers
Authors: Andresen U. , Imhof M. , Tao Y.
Published: December 2023

This article focuses on the special provisions for banks and insurance companies, in particular the so-called allocation rules of the PE Profit Attribution Regulations.
GAAR Provisions: The Need for Internationally Accepted Restrictions on Application
Authors: Sharma S. (Shashwat) , Nagappan M.
Published: December 2023

In this article, the authors examine the uncertainties created by, and the possible restrictions in the application of, India’s new general anti-avoidance rule (GAAR). They consider its interaction with income tax treaty benefits and the OECD’s multilateral instrument. The article canvasses the pre-GAAR approach adopted in Indian case law, reviews clarifications issued by the Central Board of Direct Taxation in 2017 and surveys jurisprudence in other common law jurisdictions as a source of guidance for Indian courts, which will need to interpret the new law.
Profit Shifting and the United Kingdom
Authors: Casley A. , Wlazlowski S. , Wood S.
Published: December 2023

The Finance Bill 2014 enacted new legislation on so-called “profit transfers” and on certain other specific transactions. One thing that these have in common is that they may cut straight across the application of the arm’s length principle. Certainly, they have the potential to do so. This article looks at the background to these new rules, the rules themselves, and their potential application.
The “Most Appropriate Method” as the New OECD Transfer Pricing Standard: Has the Hierarchy of Methods Been Completely Eliminated?
Authors: Ahmadov J.
Published: December 2023

Ever since the OECD Discussion Draft with proposed amendments to Chaps. I-III of the OECD Guidelines came out, it has stirred opinions on the application of the new proposed standard for the hierarchy of transfer pricing methods. This article will seek to provide some answers to questions related to this topic by analysing the history of the hierarchy of transfer pricing methods and its further development, and will consider some of the public comments issued in response to the Discussion Draft. A general snapshot of the history of the US transfer pricing rules and a comparative analysis with the US best-method rule will be also included.
India at the Forefront in Implementing BEPS-Related Measures: Equalization Levy in Line with Action 1
Authors: Agrawal M.
Published: December 2023

The author explains the new amendment to Indian law relating to the equalization levy, which is in line with Action 1 of the BEPS initiative, regarding payments for online advertising by an Indian entity to a non-resident, along with the impact of the amendment on Indian entities.
Income Tax Accounting under IFRS: The Future
Authors: Van der Enden Eelco , Morgant Thierry
Published: December 2023

In this article, the authors examine in detail the most important
changes contained in the long-awaited Exposure Draft on income taxes released
on 31 March 2009 and give some practical examples on the effects the changes
may have on balance sheets and profit & loss accounts.
Canada's place in the contemporary transfer pricing world
Authors: Wilkie J.S.
Published: December 2023

This article looks at Canada's place in the contemporary transfer
pricing world. After describing the international and Canadian contexts, the
article examines various aspects of transfer pricing in Canada, such as the
regulatory context, the legislative statement of the arm's length principle and
the administrative rule, applying the arm's length principle, penalties and
documentation, reassessments, access to information, and administration of
transfer pricing. The article also considers two issues of contemporary
interest in transfer pricing in Canada: attributing profits to permanent
establishments and a broader review of transfer pricing and Canada's
international tax rules.
Towards an Improved Design of the Chinese General Anti-Avoidance Rule: A
Comparative Analysis
Authors: Xiong W. , Evans C.
Published: December 2023

In this article, the authors examine the operation of the Chinese
general anti-avoidance rule (GAAR) and compare it with GAARs in other regimes.
Their analysis suggests that in China there are still fundamental problems with
the legislative design of the GAAR, with the manner in which it is being
administered by the revenue authorities and with the manner in which it is
being interpreted by the judiciary. Greater certainty, consistency and clarity
is still required.
Securitization of Consumer Loans
Authors: Gotlib G. , Skiadaressis M. , Tobias J.
Published: December 2023

This article provides an overview of securitization in Argentina, and considers the tax treatment thereof.
Global Minimum Tax Reform and the Future of Tax Competition
Authors: Chen J. (Jingxian) , Chow W.
Published: December 2023

This article focuses on the effects of global minimum tax reform on tax competition. It also discusses whether the new tax competition landscape will become more equitable and efficient, and, if not, how the OECD’s Inclusive Framework can better address these problems in the future.
How to Survive with Half a Million Advance Tax Rulings: The Polish Experience
Authors: Morawski W.
Published: December 2023

This article outlines the very extensive system of tax rulings in Poland. The author points out the reasons behind the mass issuance of rulings by the tax authorities, as well as attempts to limit their number. The article shows, in particular, the organizational problems associated with the issuance of numerous rulings. The author emphasizes the high operating costs faced by both the tax authorities and the administrative courts, which control the veracity of the rulings.
The Brittle Reincarnation of VAT Saving Schemes
Authors: Heydari S. , Cornielje S.
Published: December 2023

In December 2010, the European Court of Justice ruled in two separate cases concerning VAT avoidance through VAT leasing schemes. The decision of the Court in Halifax in 2006 led many financial institutions, advisors and tax authorities to conclude that the heyday of VAT saving schemes was in the past. The recent judgments appear to have refined the Court’s view on whether (leasing) schemes that result in a VAT saving, or a lesser VAT cost, are valid, thereby paving the way for new attempts to save money.
The “Final Word” on the Free Movement of Companies in Europe following the ECJ’s VALE Ruling and a Further Exit Tax Case?
Authors: Cerioni L.
Published: December 2023

The author, in this article, looks at two recent ECJ decisions on the free movement of companies within the European Union: VALE (Case C-378/10) and Commission v. Portugal (Case C-38/10).
VAT on B2C Supplies by Non-Resident Sellers
Authors: Millar R.M. , Battiau P. , Cisterna D. , Courjon O. , Ecker T. , Meloni E.O. , Rendahl P.
Published: December 2023

This article, based on the authors’ presentation in Seminar E at the
International Fiscal Association Congress held in Boston, Massachusetts, in
2012, compares and contrasts the VAT and GST laws of four jurisdictions, as
they apply to inbound B2C supplies of goods and services.
GST and Electronic Distribution Platforms
Authors: D’Ascenzo M.
Published: December 2023

In this article the author summarizes of the application of Australia’s GST to electronic digital platforms (EDPs) in relation to inbound intangible supplies and low-value imports, including the compliance approach of the Australian Taxation Office (ATO). In outlining the operation of the GST on EDPs the author argues that this focus is appropriate because of the explosive growth in online sales to private consumers made via online marketplaces.
The Multilateral Instrument from a Legal Perspective: What May Be the Challenges?
Authors: Hattingh J.
Published: December 2023

In this article, the author provides a brief legal evaluation of the Multilateral Instrument to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) and considers the general legal and tax technical issues that may arise with regard to the language of its provisions.
A Critical Analysis of the Quick Fixes for the EU Intra-Community B2B VAT System
Authors: Horsthuis M. , Nellen F.
Published: December 2023

On 2 October 2018, the EU Member States agreed on the adoption of four regulatory changes which are intended to simplify the current VAT system for business-to-business (B2B) intra-Community trade, and to make that system more resistant to fraud and abuse. In this article, the authors provide a critical assessment of the four regulatory changes, the so-called “quick fixes”. Amongst other features, the authors analyse to what extent the quick fixes serve legal simplicity and neutrality. Further, the authors discuss various practicalities which are associated with the entry into force of the regulatory changes as per 1 January 2020.
Taxation of foreign exchange results
Authors: Vargas R. , Grosselin T. , Hek K. van 't
Published: December 2023

This article summarizes the Mexican tax treatment of foreign exchange
gains and losses, as well as foreign exchange forwards entered into between a
Mexican company and a non-resident. This topic is considered against the
backdrop of the current global economic downturn and the effects of the
worldwide financial crisis.
Transfer Pricing Issues in Financial Services
Authors: Sim S.T.Y.
Published: December 2023

A typical piece on financial services transfer pricing issues may
cover audit challenges in head-office services cost recharges, investment
management fees, guarantee fees and so on. Whilst all these audit risks are
real, the author examines some of the more fundamental structural reasons why
financial services transfer pricing differ from transfer pricing in other
industries including the challenges confronting an in-house financial services
transfer pricing manager.
Foreign Beneficiaries and Australian Trusts: Their Position Is Still No Clearer
Authors: Goodsell G.
Published: December 2023

In this article, the author examines the Australian legislation concerning the taxation of capital gains derived by foreign beneficiaries of Australian trusts. He challenges the Commissioner of Taxation’s approach of taxing capital gains derived by an Australian–resident trust from assets located abroad, which have no connection with Australia, and where the gains are distributed to non-resident beneficiaries, as contrary to the intent of the legislation. To resolve the situation, the article advocates further case law to give guidance on the availability of relief from capital gains tax for foreign beneficiaries of Australian trusts.
Treaty Entitlement of Investment Funds in Light of BEPS Actions 2 and 6
Authors: Blum D.W. , Pinetz E.
Published: December 2023

Both the limitation-on-benefits clause and the principal purpose test proposed by the OECD in its current BEPS initiative aim at countering treaty shopping. A closer look reveals that these rules could have considerable effect on the tax treaty entitlement of investment funds. In this article the authors shed light on the provisions proposed so far, their interplay with the proposed article 1(2) of the OECD Model and their effects on the treatment of investment funds under international tax law.
The New Australia-Germany Income and Capital Tax Treaty (2015): A Tax Treaty for the Era of the OECD/G20 BEPS Initiative?
Authors: Markham M.
Published: December 2023

The new Australia-Germany Income and Capital Tax Treaty (2015) responds to the OECD recommendations in the Final Reports of the Base Erosion and Profit Shifting (BEPS) initiative. It is one of the first tax treaties concluded following the OECD/G20 BEPS initiative and the first to incorporate the final OECD recommendations.
Challenges to Brazilian Transfer Pricing Rules upon Accession to the OECD
Authors: Schoueri L.E. , Galendi R.A. (Jr.)
Published: December 2023

In light of the recent approximation between Brazil and the OECD, the article discusses the main challenges and advantages of the Brazilian TP legislation. The authors propose a dual system for the Brazilian transfer pricing regime, which is a feasible alternative to bring Brazil closer to the OECD Guidelines.
Solving Double Taxation outside the Realm of a Mutual Agreement Procedure
Authors: Vroemen E.
Published: December 2023

As transfer pricing adjustments are expected to increase, so will be mutual agreement procedure requests in order to remedy the resulting double taxation. To forego the downsides of this procedure, this article suggests that a MAP should be preceded by an attempt to obtain an unilateral corresponding adjustment. In the Netherlands, such an instrument is available and is called a pre-emptive MAP request.
BEPS and the Diverted Profits Tax
Authors: Joseph A.
Published: December 2023

The author examines the Australian position towards multinational enterprises which assert that they do not have a permanent establishment in Australia and therefore are not subject to tax in Australia on their income derived by supplying goods and services to customers in Australia. The newly proposed diverted profits tax and its potential application are also considered.
Latest Developments on Cross-Border Loss Relief in Germany
Authors: Bal A.
Published: December 2023

In this note, the author reviews the implementation of the
Marks &
Spencer decision in Germany. Although it was anticipated that
the impact of the decision would extend to all Member States, the German tax
authorities continue to deny a deduction for tax losses incurred by
non-resident EU subsidiaries. Two recent cases pending before the Federal
Finance Court, however, finally address the application of the Marks & Spencer principles in Germany.
Ireland’s Finance Act 2012
Authors: Maguire T.
Published: December 2023

This note highlights recent important changes to Ireland's tax law, as contained in Finance Act 2012.
What's New in US Tax and Accounting?
Authors: Hammer V.
Published: December 2023

The first half of 2010 has been a busy period for tax developments in
the financial services industry in the United States. In this piece the author
discusses fifteen of these.
Brazilian Tax Aspects of Repo Agreements
Authors: Vettori G. Gonçalves , Rubinstein F. , Casiraghi C.C. Meirelles
Published: December 2023

This article discusses regulatory aspects of repo agreements in
Brazil, as well as their tax implications for both resident and non-resident
investors.
Fundamental Changes to Indonesia’s Tax System to Attract Investment
Authors: Astuti M.D.
Published: December 2023

The government of Indonesia made several major tax changes in 2020 aimed at attracting investments to boost jobs creation and ultimately the growth of the Indonesian economy. The corporate income tax rate was reduced, followed by changes in the tax system from worldwide to territorial taxation with exemptions for foreign income and an inward expatriate regime to attract highly skilled labour and to encourage the transfer of knowledge and technology. In addition to that, the withholding tax rate on interest on bond payments to non-residents was also lowered. This article will highlight these changes and compare them to the practice in other countries. The article will also include a brief analysis of possible tax arbitrage and tax avoidance situations arising from the changes.
The “Success” of the ECJ in Clarifying VAT Rules
Authors: Brandejs T. , Holubová O.
Published: December 2023

In this article, the authors comment on the ECJ decision on the WAM case. The authors analysed the arguments of the ECJ to show that the ECJ has failed to consider if the supply of energy and the removal of waste are parts of the lease of immovable property, and whether they form one single supply or are separate supplies.
The French “Fiducie”: A Missed Opportunity or a Work in Progress?
Authors: Saïac J. , Gutmann D.
Published: December 2023

In this article, the authors outline the legislation regarding “Fiducie”, the French equivalent of trusts, which was introduced in February 2007 and clarified in August 2008 and January 2009.
Netherlands Government Bites the Bullet: Fiscal Agenda - Tax Policy and Reform Announcements
Authors: Smit P.M , Strien J. van , Valkenburg J.W.
Published: December 2023

In this article, the authors comment on the background, content and corporate income tax (the "DCIT") implications of the 2011 Netherlands Fiscal Agenda. The authors' view is that the Netherlands government is correct to opt for a reduced DCIT rate and a stable tax environment, rather than special tax regimes.
The Use of the Norwegian Petroleum Tax Regime in International Tax Planning
Authors: Zielke R.
Published: December 2023

This article provides an overview of the Norwegian petroleum tax system and, in particular, the strategic use of shareholder debt financing in the capital structure of a company, a technique commonly used by multinational corporations in Norway to allocate profits to the country with the lowest tax burden.
The Taxation of High-Net-Worth Individuals in Switzerland
Authors: Bader D. , Seiler C. (Corinna)
Published: December 2023

In this article, the authors provide an overview of the current Swiss tax regime for high-net-worth individuals (HNWIs) and of the important future developments on that matter.
Tax Treaty Case Law News
Authors: Arnold B.J.
Published: December 2023

In this Tax Treaty Case Law News, Brian Arnold reviews recent cases from India, the United Kingdom and Mexico on fees for technical services, income from employment aboard aircraft and non-discrimination, respectively.
Introduction of Exit Taxation and Hybrid Mismatch Rules in Greece
Authors: Karakike K.
Published: December 2023

This note identifies the manner in which exit taxation and hybrid mismatch rules were incorporated into Greek national legislation implementing the EU Anti-Tax Avoidance Directive (2016/1164). The author provides commentary on the current legal position and practice.
Second and Subsequent Supplies of Buildings – Exemption under the VAT Directive and the Spanish VAT Act
Authors: Herrero Moreno I.
Published: December 2023

In this article, the author aims to explain the configuration of the VAT exemption on the second or subsequent supplies of buildings under the VAT legislation in Spain to analyse its compatibility with the provisions of the VAT Directive related to these situations.
Federal Supreme Court Rejects Swiss Withholding Tax Reclaims Made by an Italian Bank under Italy-Switzerland Tax Treaty
Authors: Reinarz P.
Published: December 2023

By decision dated 5 April 2017,
CH: Supreme Court, case no. 2C_964/2016.
the Federal Supreme Court essentially upheld a judgment rendered by the Federal Administrative Court (FAC) on 29 August 2016,
CH: Federal Administrative Court, case no. A-2902/2014.
rejecting Swiss withholding tax refund claims brought by an Italian bank regarding dividends received on Swiss listed shares for an amount of approximately CHF 10.7 million. Only in respect to a reclaim amount of CHF 11,600, the Supreme Court reversed the decision of the FAC and referred the matter back to the FAC for further review, as it found the consideration of the evidence made by the FAC regarding one particular share position to be arbitrary. In this report, we will however focus on the main claim of the Italian bank, which was rejected by both Swiss courts.
VAT and Tax Amnesty in Italy
Authors: Allena M.
Published: December 2023

In late October 2018, Italy enacted a Law Decree providing for several tax amnesty rules. Some of those rules could be regarded as conflicting with EU law, either because they allow taxable persons to pay to the Italian Revenue Agency less than the VAT due, or because they could qualify as illegal State aid. In this article, the author discusses whether these provisions indeed breach EU law.
Australian Taxation Office’s Transfer Pricing Risk-Rating System
Authors: Butler M. , White L. , Prpic M.
Published: December 2023

The authors review the risk-rating system used by the Australian Taxation Office (ATO) to determine whether to review and audit taxpayers’ transfer pricing arrangements.
An Analysis of the “Foreseeable Relevance” Standard and the International Exchange of Tax Information: Are the European Union and the OECD in Agreement?
Authors: Öner C.
Published: December 2023

This article examines the standard of “foreseeable relevance” in international exchange of tax information comparatively as set out in the OECD Model and the EU legal framework. It questions whether the new foreseeable relevance standard makes it “manifestly” foreseeable, and whether the European Union and the OECD are in agreement.
Could VAT Techniques Be Used To Implement Border Carbon Adjustments? Illustration of VATs and VATCATs - Expanded Version
Authors: McLure C.E.
Published: December 2023

This is an expanded version of an article published in the August 2012 issue of the Bulletin. 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.
Precedent and Law – Australia
Authors: Davies J. (Jennifer)
Published: December 2023

This article considers the role of precedent in the establishment of Australian law and how precedents are applied by the courts. The article also covers the significance of foreign case law in the construction and application of international tax agreements.
The Judicial System of Korea – Legal Remedies and the Tax System
Authors: Bang J.Y.
Published: December 2023

This article examines the judicial system in Korea, with an emphasis on the legal remedies available to taxpayers in respect of the tax system.
Criteria for the Application of Anti-Abuse Provisions to Holding Companies under ECJ Case Law: Their Significance in Interpreting and Applying ATAD Provisions
Authors: Geringer S.
Published: December 2023

In this article, the author evaluates the significance of the existing ECJ case law in respect of the interpretation and application of the EU Anti-Tax Avoidance Directive (2016/1164) provisions to holding companies.
International Investment Agreements and the International Tax System: The Potential of Complementarity and Harmonious Interpretation
Authors: Danon R.J. , Wuschka S.
Published: December 2023

In this contribution to the 75th anniversary issue of the Bulletin for International Taxation, Professor Robert Danon and Sebastian Wuschka discuss the interplay between international investment agreements and corporate taxation measures. The authors shed light on the potential of complementarity and harmonious interpretation between the investment treaty regime and the international tax system.
Convention on Mutual Administrative Assistance in Tax Matters – An Effort to Curb Tax Evasion and Money Laundering
Authors: Javed T.
Published: December 2023

In this article, the author reviews Pakistan’s recent legislative history governing protection for foreign exchange accountholders. He concludes that, until the enactment of the Finance Act 2018, the legislation contained gaping loopholes, which were misused by tax evaders for tax evasion and money laundering. The article assesses how Pakistan’s participation in the OECD’s Convention on Mutual Administrative Assistance in Tax Matters will assist the country in combating tax evasion and money laundering, in conjunction with the most recent legislative amendments.
The Debate Over U.S. Corporate Tax Reform: How Should China Respond?
Authors: An Z.
Published: December 2023

In this article, the author analyzes how tax reform proposals in the U.S. may affect China and makes suggestions for how China should respond, sketching a blueprint for a Chinese tax system that includes reform to the corporate tax, VAT, and individual income tax systems.
The Italian Investment Manager Exemption: All That Glitters Is Not Gold
Authors: Frescurato D. , Moretti V.A. , Bortolameazzi F.
Published: December 2023

At the end of 2022, Italy has implemented new safe harbour rules on permanent establishments for investment managers, which have close similarities with the UK Investment Manager Exemption rules. These provisions, although commendable, seem to require some fine tuning.
Tax Benefits on Corporate Bonds and IPOs under Mexico’s 2019 Tax Reform
Authors: Diaz de Leon Galarza J. , Armenta J.G.
Published: December 2023

This article discusses the objectives and benefits of the Corporate Bonds and IPOs Tax Decree, including various open questions that exist today regarding the statutory requirements and economic aspects that Mexican and foreign residents must evaluate.
Courts Again Side with Israeli Taxpayer in Transfer Pricing Business Restructuring Ruling
Authors: Hubscher S. , Houlie J. (Jacky)
Published: December 2023

In April 2019, the authors published in the International Transfer Pricing Journal an article that addressed, inter alia, OECD and Israeli principles of business restructuring, focusing on the various resulting models, such as outright sale and licensing structures. Subsequently, however, the authors published a revisit to this topic in October 2020 as an Israeli tax court reached a legal countering decision. The current article considers this detailed background as well as the most recent court developments in this regard in a May 2022 ruling.
Final Guidance on Withholding Tax on Cross-Border Software Licences and Databases
Authors: Baltromejus M.
Published: December 2023

This note discusses the German Federal Ministry of Finance’s long-awaited guidance on the question of whether or not a German withholding taxing right exists on cross-border payments, in particular for software, cloud and/or database use transactions.
Will Advance Pricing Agreements End Transfer Pricing Disputes in India?
Authors: Krishnamurthy V.
Published: December 2023

Following recent developments, the author considers the background to, and the reasons for, the introduction of an advance pricing agreement (APA) programme in India from a taxpayer perspective and thereby whether or not APAs will end transfer pricing disputes. The author also suggests how the APA programme could be improved.