bluuebunny/crossref_metadata_2025 huggingface dataset:
Can the Brazilian Mutual Agreement Procedure Legislation Be Effective Domestically?
Authors: Canen D. , Conti H. de
Published: December 2023

This article examines the new Brazilian legislation in respect of mutual agreement procedures in light of the changes proposed by Action 14 of the OECD/G20 BEPS initiative and considers whether such legislation can be effective in the country.
The Role of Prodecon, the Mexican Tax Ombudsman Agency, in Ensuring Taxpayer Access to Mutual Agreement Procedures
Authors: Bernal Ladrón de Guevara D.R. , Uribe Guerrero E.
Published: December 2023

In this article, the authors examine the recent action of the Mexican Tax Ombudsman Agency, or Prodecon, with regard to ensuring that taxpayers have access to mutual agreement procedures in relation to tax treaties and the protection of the rights of taxpayers in general.
Council
Authors: Morales T.
Published: December 2023

This overview highlights the Council’s (i) adoption of recommendations in the context of the European Semester Spring Package; (ii) support stemming from the EU recovery plan and agreement on the new EU resources system; and (iii) approval of new excise duty rules on alcohol.
CFE Helsinki Tax Conference 2023: Summary Report on “Evolution or Devolution in the EU State Aid Judicial Practice and Impact of Digitalisation on Tax Practice”
Authors: Ilieva K. , Ivanovski A.
Published: December 2023

In this note, the authors review the key points discussed at the CFE Professional Affairs Conference 2023 held in Helsinki, Finland on 21 September 2023, including enforcement of EU (State aid) law vis-à-vis aggressive tax planning practices, tax administration 3.0 and the current and expected developments in EU and international tax policy.
The Cloud, E-Commerce and Taxable Presence
Authors: Walker John , Roth T.
Published: December 2023

This comparative survey article on Australia is based on a paper presented at the Baker & McKenzie 30th Annual Asia-Pacific Tax Conference held in Hong Kong from 13-14 November 2014. The 31st Annual Asia-Pacific Tax Conference is to be held in Singapore in November 2015.
Can Inequality Be Reduced by a Net Wealth Tax and Is This a Good Idea?
Authors: Martínez Sánchez C.
Published: December 2023

This article considers the concept of a wealth tax in the context of growing income and wealth disparity, whether such a tax could reduce inequality, the advantages and disadvantages of wealth taxes and, ultimately, if a wealth tax is a “good idea”.
The OECD Public Consultation Document “Global Anti-Base Erosion (GloBE) Proposal – Pillar Two”: An Assessment
Authors: Pistone P. , Pinto Nogueira J.F. , Andrade Rodríguez B. , Turina A.
Published: December 2023

In this article, the IBFD Task Force on the Digitalized Economy provides feedback to the OECD on its Public Consultation Document, launched on 8 November 2019, on the specific matters of the Global Anti-Base Erosion (GloBE) Proposal, also known as Pillar Two of the BEPS 2.0 Project, as included in the Public Consultation Document.
Tax Reform 2015/2016
Authors: Spindler-Simader Karin
Published: December 2023

This note outlines the details of Austria’s recent tax reform, which includes significant changes to, inter alia, the tax brackets, employee benefit exemptions and deductions, depreciation rates for immovable property, loss utilization limitations, the taxation of shareholder contribution repayments and the capital gains tax rate. In addition, the reform includes a preferential tax regime for incoming scientists and researchers, certain measures against tax fraud and a reform of real estate transfer taxes.
Transfer Pricing in the Pharmaceutical Industry
Authors: Paumier P.
Published: December 2023

Through economic and value chain analysis, this article aims at depicting some of the specific transfer pricing issues in an industry that has generated a substantial level of tax controversy over the last decades: the pharmaceutical industry.
The VAT Consequences of Crowdfunding
Authors: Merkx M.
Published: December 2023

Crowdfunding is a relatively new phenomenon and there is little experience with its VAT consequences. In this article, the author distinguishes
between four types of crowdfunding: donation-based crowdfunding, reward-based crowdfunding, credit-based crowdfunding and equity-based
crowdfunding. She analyses the positions of the platforms, the persons contributing (“investors”) and the persons receiving the funding
(“investees”) and discusses the VAT committee guidelines and the opinion of the European Commission on these topics.
Guidance on the Application of the Principal Purpose Test in Tax Treaties
Authors: Kolosov V.
Published: December 2023

This article considers the impact of the principal purpose test, which Action 6 of the OECD/G20 Base Erosion and Profit Shifting initiative has proposed should be included in tax treaties, the certainty it offers with regard to legitimate tax planning and various sources of guidance for its application.
Guidelines from Italian Tax Authorities on the Arbitration Convention: An Analysis in Light of the EU Code of Conduct
Authors: Massimiano A.
Published: December 2023

The author considers guidance issued by the Tax Agency regarding the functioning of mutual agreement procedures under the Arbitration Convention.
Amendments and Developments Involving Netherlands Tax Incentives Promoting R&D Activities
Authors: Schrievers P. , Emonts M.
Published: December 2023

The Netherlands government promotes engagement in research and development (R&D) activities through a preferential corporate income tax regime and specific R&D tax incentives granted to employers with regard to salaries paid to employees who carry on qualifying R&D activities and related capital expenditure. This note describes developments in relation to these provisions.
Transfer Pricing Guidance Issued on Intercompany Financing
Authors: Sigurdardottir B. , Rasch M. , Laplume C.
Published: December 2023

On 28 January 2011, the Luxembourg tax authorities issued Circular L.I.R. n° 164/2 providing guidance on intra-group lending activities financed by borrowings. The Circular clarifies the tax treatment of intercompany financing and determines the taxable result in accordance with OECD transfer pricing principles.
Non-Cooperative Jurisdiction Tax Reform in France – An Update
Authors: Saïac J.
Published: December 2023

This article follows on from the article by the same author published in the April/May 2011 issue of the Bulletin for International Taxation, which dealt with the non-cooperative jurisdiction tax reform in France. In this respect, the author considers developments regarding this issue since April 2011.
Corporate Collective Investment Made Easy
Authors: Joseph A.
Published: December 2023

The amendments made to the law applicable to companies will allow the formation of a new class of companies with subfunds with segregated assets, liabilities and expenses and containing element of rules applicable to trusts, enabling better avenues for investment and dealing with income.
Cross-Border Leasing
Authors: Widyatmoko W. , Hananto R.D.
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.
Taxation of Basel III-Compliant Instruments
Authors: Angsten S.
Published: December 2023

This article describes the German tax treatment of Basel III-compliant instruments to be classified as Additional Tier 1 capital under the EU Commission’s proposal of 20 July 2011. It covers the tax treatment of both credit institutions and investors.
Tax Litigation in the Federal Court of Australia
Authors: Pagone G.T.
Published: December 2023

This article provides an outline of the workings of the Australian judicial system, with special reference to the functioning of the Federal Court.
Discussion Paper on Arm’s Length Debt Test
Authors: Joseph A.
Published: December 2023

The author reviews the law relating to thin capitalization as it
currently applies and considers a recent Discussion Paper on the arm’s length
debt test.
“Tax Arbitrage” with Hybrid Entities: Challenges and Responses
Authors: Lüdicke J. (Jürgen)
Published: December 2023

In this article, the author examines some technical issues that would
result from the introduction of domestic rules against arrangements involving
hybrid entities as called for by the OECD BEPS Action Plan. Such rules would
need to comprehensively reflect potential fact patterns in order to avoid
over-taxation.
Taxation of Upcoming Portfolio Investment Regime in India
Authors: Sharma P.
Published: December 2023

The proposed simplified portfolio regime in India is being seen as a positive step towards attracting foreign investment. This article discusses the tax aspects of this portfolio regime about which there have been no proposals as such. Additionally, it analyses some of the relevant changes in the old regime regarding the government’s objective of providing a simple yet attractive foreign portfolio investment route in India.
Forecasting
Interest Rates for Future Intercompany Loan Planning: An Alternative
Approach
Authors: Montero C. Oscar
Published: December 2023

This article offers an alternative approach to the establishment of an
interest rate for future intercompany loans, based on forecasting corporate
debt instruments yields in order to incorporate the arm’s length
principle.
The Journey from Tata Consulting Services to Samsung – A Primer on the Tax Characterization of Software Payments
Authors: Butani M. , Jain P. (Parul)
Published: December 2023

The characterization of software payments remains a major tax issue in India. This article analyses the provisions of the Indian tax legislation and the differing positions taken by taxpayers and the tax authorities before looking at the judicial decisions to date.
The Evolving World of Global Tax Planning: Part II
Authors: Herrington M. , Lowell C.H.
Published: December 2023

The authors continue their analysis of the evolving world of global tax planning, with a particular focus here on means of resolving cross-border tax disputes.
Temporary new cancellation of debt income deferral provisions help
companies renegotiate debt more easily
Authors: Larkins R.G.
Published: December 2023

In response to the difficult economic circumstances confronting the
United States, the Congress recently passed the American Recovery and
Reinvestment Act of 2009. The Act contains two tax provisions that are of
particular interest to certain taxpayers that plan to repurchase or renegotiate
their outstanding debt in 2009 or 2010: one of these temporarily provides
certain taxpayers with an election to defer the recognition of cancellation of
indebtedness income that they would otherwise be required to realize as a
consequence of certain debt repurchase or renegotiation transactions, while the
other temporarily suspends the applicable high-yield discount obligation rules
with regard to certain debt exchanges. This article describes these two
provisions, explains their significance and addresses some open issues that may
be clarified by the US Treasury Department regarding the application of the
provisions.
The Use of Value Chain Analysis in a Profit Split
Authors: Bagran Ilhan C.
Published: December 2023

This article provides an introduction to the profit split method (PSM), giving a quick look into its evolution throughout time and explaining how it shall be identified and applied as the most appropriate transfer pricing method, while demystifying the terms “value creation” and “value chain analysis” (VCA) and explaining why they were introduced by the OECD in the Action Plan on Base Erosion and Profit Shifting (hereinafter BEPS Actions). This article elaborates on what a VCA should consider, how it should be conducted and what should be the outcome, and addresses the practical aspects of the use of the PSM in a VCA, based on a numerical example in the light of the OECD’s recommendations in, inter alia, the OECD Model Tax Convention, the OECD Transfer Pricing Guidelines, the BEPS Actions, discussion drafts and public consultations on the application of the PSM.
The CCCTB Proposal: The Next Step towards Corporate Tax Harmonization in the European Union?
Authors: Vascega M. , Thiel S. van
Published: December 2023

On 16 March 2011, the European Commission adopted a proposal on the Common Consolidated Corporate Tax Base (CCCTB), which starts a new cycle of discussions on corporate tax harmonization in the European Union. This article traces the different steps that this ambitious project went through and will have to go through before its provisions can come into effect.
New Brazilian Transfer Pricing Regime Edited by Government
Authors: Schoueri L.E. , Barbosa M.
Published: December 2023

On 29 December 2022, Provisional Measure 1,152 introduced new transfer pricing rules in Brazil with force of law but subject to further approval from Congress. The proposal put forward by the government replaced the previous regime, which deviated from international standards, with rules now convergent to the OECD Guidelines.
Dealing with Debt
Authors: Kelly B.T.
Published: December 2023

This article is based on a comparative survey presented at the 2009 Baker & McKenzie Annual Asia-Pacific Tax Conference and provides a broad overview of the tax consequences arising from the sale, transfer, etc. of debt.
Polish Corporate Income Tax Amendments in 2009
Authors: Lewicki Tomasz
Published: December 2023

This note provides an overview of the major corporate income tax law amendments implemented in Poland with effect from 1 January 2009, which, in the author's opinion, may be of particular importance for multinational enterprises operating or investing in Poland (in view of the potential tax implications and the exposures of Polish companies as part of these groups).
A New Direction for US International Tax Policy – Two Steps Forward, One Step Back?
Authors: Marian O,
Published: December 2023

Over the past month, the Biden administration has released two new tax proposals and offered major international tax proposals at the OECD. As the world contemplates the new US approach to global tax reform, Omri Marian breaks down the most significant changes and what they could signal.
Taxing the New Gig Economy
Authors: Gupta A.
Published: December 2023

In this article, the author examines the implications of taxing the fast-emerging “gig” economy, characterized by networked peer production of services.
Currency Exchange Results - What If Member States Subjected Taxpayers to Unlimited Income Taxation Whilst Granting Double Tax Relief under a Netherlands-Style Tax Exemption?
Authors: Wilde M.F. de
Published: December 2023

The author, in this article, examines, through examples, the effects of Member States subjecting taxpayers to unlimited income taxation whilst granting double tax relief under a Netherlands-style tax exemption with regard to how such an approach would affect the cross-border taxation of currency exchange results.
Understanding Risk in the Era of the OECD/G20 Base Erosion and Profit Shifting Initiative
Authors: Bilaney S.K.
Published: December 2023

The concept of “risk” is not new to transfer pricing, but different stakeholders have different perceptions, which may result in divergent views. The OECD/G20 in their Base Erosion and Profit Shifting initiative have created a framework to analyse risk in controlled transactions. This article examines this framework using practical examples.
Congruence and divergence in transfer pricing in Australia and Japan :
intangibles and advance pricing agreements
Authors: Markham M.
Published: December 2023

This article compares and contrasts the approaches taken by Australian
and Japanese tax authorities in the areas of transfer pricing relating to
intangibles and advance pricing agreements. The analysis is particularly
interesting in light of the coming into force of the new Australia-Japan tax
treaty on 3 December 2008.
Mexico’s Tax Treaties – Recent Developments
Authors: Lara Ramos L.R.
Published: December 2023

In this article, the author examines significant developments with regard to Mexico’s tax treaties – in particular, the important features of the two new tax treaties and amending protocol that Mexico has recently signed with Canada, Germany and the Netherlands, respectively.
The Judicial System of Cyprus and Taxpayer Rights
Authors: Tsangaris Y.
Published: December 2023

Taxpayer rights have attracted a lot of controversy in Cyprus in recent decades. The lack of an independent body to refer substantive tax cases to and easy access to tax information around the world have adversely affected the attitudes of taxpayers and professionals regarding the credibility of the tax system. Taxpayers have always felt that they were not being treated equitably and professionals have struggled to find solutions with the Tax Department. This note discusses these concerns and recent developments.
Proposal on Determination of the Arm’s Length Price Using the Range Concept
Authors: Patel V.T. , Dhoot S. , Haria B.
Published: December 2023

While presenting the Union Budget 2014-15, the Finance Minister proposed the introduction of the concepts of “range” and “multiple-year data” in Indian transfer pricing, with the objective of reducing transfer pricing litigation in India. The Central Board of Direct Taxes has developed a draft scheme, which contains detailed provisions as regards the application of “range concept” and the use of “multiple year data” for transactions undertaken for financial years 2014-15 and onwards.
Update on Country-by-Country Reporting
Authors: Stocker R. , Oosterheert A.
Published: December 2023

The Swiss parliament recently adopted legislation regarding the introduction of country-by-country reporting in Switzerland. The authors discuss the adopted legislation and provide their comments.
Conference Report: The Maastricht International Transfer Pricing Summit, Brussels, 10 October 2013
Authors: Dwarkasing R.
Published: December 2023

The author provides a summary of the presentations at the first Maastricht International Transfer Pricing Summit, which focused on key issues and emerging challenges in the dynamic area of transfer pricing.
Comments on the Klaus Vogel Lecture – Problems Arising under Domestic
Tax Law Due to the Introduction of the Authorised OECD Approach
Authors: Schnitger A.
Published: December 2023

Dr Arne Schnitger comments on the problems arising under (German)
domestic tax law due to the introduction of the Authorised OECD Approach
following Professor Ekkehart Reimer’s 2012 Klaus Vogel Lecture on this
topic.
Democracy, Revolution and Taxation
Authors: Vanistendael F.J.G.M.
Published: December 2023

In this article, the author addresses the potential impact of recent populist political events on liberal democracy by answering five key questions from the point of view of European and international tax law.
Exit Taxation and Restructuring Operations: A Comparison of EU and Italian Tax Law
Authors: Pellecchia M.
Published: December 2023

This article discusses the tax treatment of a transfer of tax residence from both an Italian and EU law perspective. In particular, the author discusses the potential for tax arbitrage due to gaps in the rules in respect of restructurings.
Mining Taxation in Tanzania: The African Barrick Gold Cases
Authors: Waris A.
Published: December 2023

This article considers the changes made to Tanzanian mining law in relation to the issues that were highlighted in three recent cases involving the mining subsidiaries of African Barrick Gold, which concerned various tax issues. It then discusses how the cases elaborated on the tax law in question.
Implications of Recent Supreme Court Decision on Transfer Pricing: An Update on the Arm’s Length Principle, Anti-Avoidance and Burden of Proof
Authors: Di Cesare F.
Published: December 2023

In the Nylstar case, the most recent ruling by the Supreme Court in a case concerning transfer pricing, the Court focused on the legal classification and relevance of the domestic transfer pricing regime, and seemed to establish a new interpretation principle regarding the burden of proof. Indeed, the case provides a good reason for a general discussion of the transfer pricing aspects from an Italian perspective and necessitates an update on the arm’s length principle, anti-avoidance and burden of proof matters.
Investing into India
Authors: Malik G. , Aw H.L.
Published: December 2023

The authors address the various issues involved in structuring foreign
direct investment into India including the possible holding structures and
potential challenges.
New Safe Harbour Rules for Intra-Group Loans and Guarantees: How Safe Is the New Harbour?
Authors: Bilaney S.K.
Published: December 2023

The Indian government has recently amended the safe harbour rules relating to intra-group loans and guarantees. The analysis of these rules clearly indicates the intent of the Indian government to reduce transfer pricing litigation and provide certainty to taxpayers regarding their transfer pricing positions.
New Upstream Loan Rules: Policy Issues and Unexpected Applications
Authors: Sinclair B. , Kjellander K.
Published: December 2023

In August, 2011 the Canadian Department of Finance released draft legislation amending Canada’s foreign affiliate rules. This article reviews the proposed amendments relating to upstream loans and how they fit within Canada’s foreign affiliate system, discusses issues that have been identified with the Proposed Amendments and Finance’s comments on some of these issues, and considers the policy rationale behind, and possible consequences of, the proposed amendments.
Better Late Than Never – The Finnish CFC Case and the Requirement To Repeal Final Decisions That Conflict with EU Law
Authors: Helminen M.
Published: December 2023

In this note, the author outlines a recent decision of the Supreme Administrative Court of Finland concerning the compatibility of the Finnish controlled foreign company regime with EU law and the grounds for a repeal of a national court’s decisions found to be incompatible with subsequent European Court of Justice case law.
Revised Transfer Pricing Guidelines
Authors: Bhatnagar V.
Published: December 2023

The author discusses the highlights of the revised transfer pricing guidelines issued by the Singapore tax authorities in January 2015, and attempts to shed some light on the impact thereof on Singapore taxpayers.
Hedge Effectiveness Test To Undergo Changes
Authors: Joseph A.
Published: December 2023

This article focuses on the changes proposed to hedge-effectiveness testing in IAS 39, the anticipated effect of such changes and the Discussion Paper that was released in Australia in February 2012, “Improving the operation of the tax hedging provisions” in respect of hedge-effectiveness testing under the TOFA Act.
International Taxation and the Challenges for Multilateralism in the Context of the OECD Multilateral Instrument
Authors: Gomes M.L.
Published: December 2023

The objective of this article is to critically assess the feasibility of the OECD Multilateral Instrument to implement treaty-related measures to counter base erosion and profit shifting practices as proposed in Action 15 of the OECD/G20 Base Erosion and Profit Shifting initiative.
Online Insurance Mediation under EU VAT
Authors: Grambeck H-M.
Published: December 2023

The VAT treatment of insurance mediation over the Internet is caught between the principle that VAT exemptions must be interpreted strictly and the circumstance that the EU legislature has not been able to keep up with the rapid developments in the market for specific services. In this article, the author compares the scope of the exemption for online insurance mediation in Germany and in the United Kingdom and concludes that the EU legislature should act quickly to restore a level playing field for service providers operating through the Internet.
Capacity Building and Resources for Tax Administrations in Latin America
Authors: Méndez Prado M. , Guerrero García K.
Published: December 2023

The analysis of capacity building and resources for tax administrations remains a recurring topic when discussing international tax. To contribute to this debate within the OECD Task Force of March 2016, this article presents some conclusions from the fourth regional meeting of Latin American tax administrations, including issues that affect their activities, both directly and indirectly, as well as joint proposals. These matters broadly fall under the headings of training, technology and institutions. The proposals are merely one part of a long process consisting of a series of international meetings to share and discuss the experiences of Latin American tax administrations, and the follow-ups by experts in both national and regional contexts.
The East African Community Multilateral Tax Treaty – Fit for Purpose?
Authors: Hattingh J.
Published: December 2023

In this article, the author reviews the background and provisions of the East African Community Multilateral Tax Treaty (2010), considers whether it is fit for purpose in today’s modern and ever-changing world, and draws comparisons to tax law developments in the European Union because of the similarity of the general EAC legal framework.
Taxation of Mineral Resources – Policy Transition Group Reports on Minerals Resource Rent Tax
Authors: Butler M. , Brittingham M.
Published: December 2023

This article follows an earlier article in which the authors summarized the Australian government’s proposal to introduce a 30% minerals resource rent tax (MRRT), which would apply to iron ore and coal from 1 July 2012. It discusses the key points of the report issued by the Policy Transition Group on the proposed tax and the reactions to the report.
Klaus Vogel Lecture 2021: Unbundled Tax Sovereignty – Refining the Challenges
Authors: Dagan T.
Published: December 2023

This lecture argues that globalization is altering the interaction between states and their constituents. Taxpayers’ mobility and their ability to consume public goods and services a-la-carte threatens to transform taxpayers from equal members of a political community into consumers of public goods and services. States should therefore reconfigure their social contracts with their constituents to ensure the continued legitimacy of their sovereignty.
Is Fiscal Justice
Progressing?
Authors: Vanistendael F.
Published: December 2023

The author, in this contribution, asks if fiscal justice has
progressed by surveying the relevant principles, trends in revenue and the tax
mix in the period between 1965 and 2005, and the development of national income
tax systems. The author concludes by proposing new principles to ensure fiscal
justice.
Location-Specific Advantages and Transfer Pricing
Authors: Ferraton A.
Published: December 2023

In this article, the author describes the context surrounding the location-specific advantage debate by examining the instances and circumstances that give rise to location-specific advantages – in particular location savings and market premiums. The article further discusses how such advantages should be treated from a transfer pricing perspective, taking current approaches and views into account, as well as considering new global changes in the outsourcing industry, and the current economic environment of automation of work and digital innovations and transformations.
Introduction of
Contemporaneous Documentation Requirements and Transfer Pricing
Penalties
Authors: Kim T-H. , Jung B.Y.
Published: December 2023

Effective 26 December 2008, Korea introduced for the first time
contemporaneous transfer pricing documentation requirements and
documentation-related penalty rules in the Law of the Coordination of
International Tax Affairs. A related Presidential Decree provides details
regarding the new documentation requirements and penalty rules. This article
considers the new law and the guidance provided by the Presidential Decree, and
analyses their impact on taxpayers.
Tax Treaty Policy in West Africa: Past, Present and Future
Authors: Obuoforibo B.R.
Published: December 2023

The article examines West Africa’s history in treaty-making among its constituent member states, as well as its experience of multilateralism in this area.
Commission
Authors: Valério C.
Published: December 2023

This overview highlights the Commission’s (i) plan to adopt a Taxation Package in June 2023; (ii) presentation of the Green Deal Industrial Plan (iii) publication of the public consultation report on the initiative to tackle the role of enablers of tax evasion and aggressive tax planning in the European Union; (iv) urging of Spain to properly implement the EU Tax Dispute Resolution Mechanism (v) call on 14 Member States to fully transpose DAC7 into national law; (vi) letter of formal notice to Italy for failure to comply with EU rules on social security coordination; (vii) action against Malta regarding vehicle taxation legislation; (viii) closing of the infringement procedure against Greece regarding non-communication of ATAD measures implementing rules on hybrid mismatches, (ix) closing of the infringement procedure against Luxembourg regarding inheritance tax reduction for company shares (x) closing of the infringement procedure against France regarding discriminatory taxation of EU-sourced dividends; (xi) closing of the infringement procedure against Germany regarding rules on taxation of unrealized capital gains; (xii) closing of the infringement procedure against Austria regarding rules on indexation of family benefits; (xiii) closing of the infringement procedure against Romania regarding refund of car registration taxes collected in breach of EU law; (xiv) closing of infringement procedure against Portugal regarding registration tax of second-hand vehicles; and (xv) approval of amendment and prolongation of German risk finance scheme to support small, young and innovative companies.
The Virus in the ALP
Authors: Collier R.S. , Dykes I.F.
Published: December 2023

In this article, the authors consider various policy, technical and practical implications of the transfer pricing guidance on risk and capital in the light of the COVID-19 pandemic, with special reference to the OECD Transfer Pricing Guidelines and the arm’s length principle.
Non-Cooperative Jurisdiction Tax Reform in France
Authors: Saïac J.
Published: December 2023

The author, in this article, describes the non-cooperative states or territories tax reform, which was implemented by France at the end of 2009. He also considers the implications, favourable or otherwise, of the reform.
Fundamental Freedoms and State Aid Rules under EU Law: The Example of Taxation
Authors: Micheau C.
Published: December 2023

This article is a contribution that was written in the aftermath of the Graduation Lecture (Maarten J. Ellis Lecture) on the occasion of the graduation of the 2010-2011 class of the Adv LLM Program in International Tax Law at the Leiden University, the Netherlands, which also appears in this issue of European Taxation.
An Overview of the Protection of Taxpayer Rights
Authors: Alvarez U.
Published: December 2023

The article intends to provide an overview of the rights and obligations of taxpayers in the Philippines. It analyses the legislative framework and other available guarantees that ensure that taxpayer rights are protected, and also identifies other areas that require further attention and development. These guarantees are then further analysed in the context of international law along with international best practices.
A Step towards Adopting an Approach in Line with BEPS Measures: India Revises Its Comments in the Draft UN Manual
Authors: Agrawal M.
Published: December 2023

The Indian tax authorities have updated their comments in the country-specific chapter in the 2016 Draft UN Transfer Pricing Manual, including with regard to marketing intangibles; location savings; intra-group services; financial transactions; the use of multiple year data; and the arm’s length range and its impact on Indian MNEs.
Impact of the EU11 Financial Transaction Tax Proposal on CIVs and
REITs
Authors: Vermeulen H.
Published: December 2023

The author describes the impact of the financial transaction tax, as
proposed under the EU11 Financial Transaction Tax Proposal,
COM(2013) 71 final.
on collective investment vehicles and real estate investment
trusts.
This article is based on a presentation delivered at the Conference “Issues and Challenges Concerning the Introduction of a Financial Transaction Tax in the European Union”, held in Madrid on 17 February 2014.
The Favourable
Taxation of Serbian Holding Companies
Authors: Blagojevic Ivana
Published: December 2023

In this note, the author addresses the general but
beneficial articles of the Serbian Corporate IncomeTax Law (CIT Law)
Official Gazette of Republic of Serbia No. 25/2001, No. 80/2002, No. 43/2003 and No. 84/2004. that make Serbia very competitive with regard to
holding companies compared to other countries in the region.
A US Subnational Perspective on the “Logic” of Taxing Income on a “Market” Basis
Authors: Hellerstein W.
Published: December 2023

In this article, the author comments on some of the fundamental propositions advanced by Wolfgang Schön’s examination of “Ten Questions about Why and How to Tax the Digitalized Economy”.
Withholding Tax and Cross-Border Intellectual Property Transactions in
Developing Countries: The Example of Egypt and India
Authors: Abdellatif M. M.
Published: December 2023

This article examines cross-border transactions involving intellectual
property, including licensing, transfers and cost-sharing arrangements with
specific regard to Egypt and India. As these developing countries are
technology importers, they are concerned with protecting their tax revenue by
the imposition of appropriate measures, notably withholding taxes.
Hybrid Financial Instruments and Primary EU Law – Part 1
Authors: Bundgaard J.
Published: December 2023

This article analyses the influence of EU law on hybrid financial instruments (HFIs). Part 1 addresses the impact of primary EU law on HFIs, identifies the applicable freedom, discusses the influence of the TFEU on the approach of Member States to classification and taxation of HFIs and addresses the conformity of coordination rules with EU law. Part 2, to be published in European Taxation 12 (2013), analyses potential justifications and the proportionality test.
Ministry of Finance Letter Ruling on Short Selling of Stocks around the Dividend Record Date
Authors: Krause H. , Schmitt B. (Bernd)
Published: December 2023

The Ministry of Finance has issued a letter ruling dated 5 May 2009 concerning the credit and refund of German withholding tax on German dividends sold short. The letter specifies additional requirements that must be met to obtain a refund or credit of withholding tax at the investor level.
The Nordea Case and the VAT Treatment of SWIFT Services
Authors: Zutt J. , Hewitt P.
Published: December 2023

The European Court of Justice has held in the Nordea case that SWIFT services are to be regarded as standard rated. While this does not change anything in most EU Member States, it will have a major impact on financial institutions in Member States where these services were being treated as VAT exempt.
VAT on Digital Services and B2C Transactions: Experiences in the Latin American and Caribbean Region
Authors: Annacondia F. , Alarcón Díaz L.
Published: December 2023

Globalization and new technologies have encouraged new markets to emerge along with new ways of trading goods and services with no physical presence required. Based on the OECD recommendations, countries around the world have started to adapt their VAT legislations to tax cross-border digital transactions supplied by non-residents. Countries in the Latin American and Caribbean region have started to amend their VAT systems to follow this international trend. In this article, the authors provide a general outline of the recent developments with regard to VAT applicable in B2C transactions in the region, summarizing the countries’ experiences and providing their own reflections.
Casenote – Full Federal Court Upholds Application of Anti-Avoidance Rules to Franking Credits Scheme
Authors: Butler M. , Pengelly J. , Lu Y.
Published: December 2023

The authors discuss in detail the recent full Federal Court decision in the case of Mills v. Commissioner of Taxation, on the application of anti-avoidance rules to dividend franking credits under the imputation system.
No Retroactive Application of Sec. 1(3) of the Foreign Tax Act to Business Restructurings before 2008
Authors: Andresen U.
Published: December 2023

This article explores when the new German rules on transfers of functions (business restructuring) apply to taxpayers with different financial years. Moreover, it illustrates that the retroactive application of these rules does not meet the necessary requirements under constitutional law, so that the rules can be applied in a lawful manner only to transfers taking place in tax assessment periods from 2008 onwards.
Luxembourg Increases
its Tax Competitiveness
Authors: Schaffner Jean
Published: December 2023

The author, in this note, outlines the significant
changes recently introduced into Luxembourg tax law by the Cooperation
Act,
Bill 5757
 the 2009 Tax Reform
Bill 5924.
 and the Capital Duty Act.
Bill 5913.
A Fund Is a Fund or Isn’t It? – Some Further Clarification on the VAT Exemption for the Management of Special Investment Funds
Authors: Kasteren E. van
Published: December 2023

This article looks at the guidelines provided in Working Paper No. 396 of the VAT Committee on the scope of the exemption for the management of special investment funds
Value Added Tax Committee, Working Paper No. 936, Scope of the exemption for the management of special investment funds (9 Nov. 2017), taxud.c.1(2017)6168695 – EN.
(the Working Paper) and, in particular, at what constitutes a “special investment fund”.
Corporate taxation in Canada : a cross-border perspective
Authors: Boidman N. , Kandev M.
Published: December 2023

This article describes the principal features of Canada's corporate
tax system, focusing on selected aspects of interest in a cross-border context.
In reviewing Canada's corporate tax rules, the article considers, among other
things, entity classification for Canadian income tax purposes, liability to
corporate tax, the corporate tax rates and tax base, tax-deferred
reorganization facilities, withholding taxes and anti-avoidance rules. The
article also discusses matters of particular relevance to foreign investors,
such as the main considerations in establishing a business presence in Canada,
acquiring a Canadian business and using a Canadian holding
corporation.
The Cloud, E-Commerce and Taxable Presence
Authors: Kim K-D.
Published: December 2023

This comparative survey article on Korea (Rep.) is based on a paper presented at the Baker & McKenzie 30th Annual Asia-Pacific Tax Conference held in Hong Kong from 13-14 November 2014. The 31st Annual Asia-Pacific Tax Conference is to be held in Singapore in November 2015.
Council
Authors: Valério C.
Published: December 2023

This overview highlights the Council’s (i) postponement of the final agreement on the Minimum Taxation Directive; and (ii) failure to adopt the Minimum Taxation Directive due to opposition from Hungary.
OECD Transfer Pricing Guidelines as a Quasi Source of Law in a Post-BEPS World – Legislative and Judicial Developments from a Polish Perspective
Authors: Brzeziński B. , Lasiński-Sulecki K. , Morawski W.
Published: December 2023

The OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations are of the utmost importance in the sphere of transfer pricing. Unlike article 9 of the OECD Model, which is rather general in wording, the OECD Transfer Pricing Guidelines offer a detailed guidance on transfer pricing methodology. The significance of the OECD Transfer Pricing Guidelines became even more noticeable when the BEPS Project was completed, because numerous changes to the global transfer pricing regime were envisaged in the amended guidelines and not in the text of the OECD Model itself. The aim of this article is to analyse the status of the OECD Transfer Pricing Guidelines in international and Polish domestic law, as well as current practice of their application.
Fundamental Changes
to Liechtenstein Tax Law
Authors: Hosp Thomas
Published: December 2023

In this note, the author considers the implications of the new tax law
proposals in Liechtenstein, which, it is anticipated, will generally apply from
2010.
United Arab Emirates: The Corporate Tax Regime for Free Zones
Authors: Leclercq E. , Vanhee T. , Beretta G.
Published: December 2023

This article focuses on the corporate tax regime of the United Arab Emirates (UAE) for Free Zone entities, which constitutes a key element of the new Corporate Tax Law effective since 1 June 2023. The authors also provide insights into the UAE’s positioning in relation to current international tax reforms.
Revised Transfer Pricing Legislation in Portugal: Practical Implications for Taxpayers
Authors: Verschoor L. , Garcia B. , Morais A.M.
Published: December 2023

On 18 September 2019, a new Bill was published in Portugal that introduces several amendments to the transfer pricing legislation. In this article, the authors identify the main transfer pricing changes that occurred and their practical implications for taxpayers. This article also provides a description of the Portuguese transfer pricing legislation and the respective reporting obligations.
Interaction between Tax Treaties and Domestic Law
Authors: Martin P. (Philippe)
Published: December 2023

Tax treaties, given their primary object of eliminating double taxation, should logically take precedence over domestic tax law. However, because of this object, tax treaties do not normally give rise to grounds for domestic taxation (the principle of subsidiarity), and, in some cases, domestic law may even be applied to tax treaties.
3% Corporate Income Tax Surcharge on Distributed Income: The Beginning of the End?
Authors: Mallaret A.
Published: December 2023

Since its introduction in 2012, the future of the 3% corporate income tax surcharge on distributed income has become increasingly uncertain in light of certain case law. This note aims to provide an overview of the ongoing legal debate and of refund opportunities that require action before 31 December 2016.
Opinion Statement ECJ-TF 4/2022 on the ECJ Decision of 22 September 2022 in W AG (Case C-538/20) on the Deductibility of Foreign Final Losses
Authors: Kofler G. , Garcia Prats A. , Haslehner W. , Heydt V. , Kemmeren E. , Lang M. , Nogueira J.F. Pinto , HJI Panayi C. , Raventós-Calvo S. , Richelle I. , Rust A. , Shiers R.
Published: December 2023

In this CFE Opinion Statement, submitted to the EU Institutions in November 2022, the CFE ECJ Task Force comments on the ECJ decision of 22 September 2022 in W AG (Case C-538/20), on the deductibility of foreign final losses.
Beneficial Ownership: Concept, History and Perspective
Authors: Poiret C.
Published: December 2023

This article traces the evolution of the beneficial ownership concept, both internationally and within the European Union, in the context of two decisions of the Swiss Supreme Court handed down in May 2015, wherein it was held that two Danish banks, involved in derivative transactions, should be denied a withholding tax refund, as they are not the beneficial owners.
International Taxation in Japan: Revised Transfer Pricing Guidelines by
the National Tax Agency
Authors: Oka N.
Published: December 2023

The author discusses key features of transfer pricing taxation in
Japan and the main changes that have been made to it since its introduction in
1986.
Has Hong Kong Succumbed to Pressure from the OECD?
Authors: Yim K.
Published: December 2023

The author considers the development and current state of affairs regarding Hong Kong’s participation in the cross-border exchange of information.
New Advance Pricing Agreement Roll-Back Provisions in Turkey
Authors: Erdem T.
Published: December 2023

In this article, the author examines the new advance pricing agreement roll-back mechanism that has recently been introduced into the Turkish tax system, together with some other significant amendments to the Turkish transfer pricing rules.
Bitcoin Transactions: Recent Tax Developments and Regulatory Responses
Authors: Bal A.
Published: December 2023

The author examines the current treatment of Bitcoin in numerous EU and non-EU countries, and analyses the opinion of the Advocate General in a Bitcoin case that is currently pending before the European Court of Justice.
The New Interpretation of the Arm’s Length Principle: A Post-BEPS Evaluation
Authors: Heggmair M.
Published: December 2023

In this article, the author discusses the interpretation of the arm’s length principle, as defined by the OECD in the BEPS Actions 8-10 Final Reports, with a focus on the substance-over-form principle and the consequences for the tax authorities to apply the required economic review and analysis of the business model and the transfer pricing arrangements.
Is a "Gross-Up Clause" a Treaty Override?
Authors: Cotrut M.
Published: December 2023

This article examines, from a Romanian perspective, whether a balance
can be found between protecting a country’s right to tax its fair share of
income generated in that country and the objective of eliminating double
taxation. In determining this balance, special attention is given to the
application of gross-up clauses, which allow Romania, as the source state, to
tax non-resident investors in the form of a domestic withholding tax without
considering the withholding taxes provided by tax treaties, a situation that
may be characterized as treaty override.
Business Restructuring and Permanent Establishments
Authors: Cooper J.L. , Law S.B.
Published: December 2023

This article outlines two common forms of business restructuring involving the conversion of manufacturing and distribution entities; and, by way of analysis of the permanent establishment articles in bilateral treaties that entered into force between 1 January 2008 and 31 December 2009, considers permanent establishment risks associated therewith.
Cross-Border Royalties in Tax Avoidance
Authors: Joseph A.
Published: December 2023

The perceived misuse of cross-border royalties has been addressed in the ruling of the Full Federal Court in the Tech Mahindra case, as well as a Taxpayer Alert issued by the Australian tax authorities.
The Commission Takes a Further Look at Simplifying the Cross-Border Portfolio Tax Claim Process
Authors: Radcliffe P.
Published: December 2023

In this note, the author discusses the establishment of the Commission’s Tax Barriers Business Advisory Group, its mandate and how this group’s work supplements that performed by the OECD. In order to understand the goals of this group, it is necessary to appreciate the Commission’s previous work in this area. Cross-border portfolio investors should broadly welcome the group’s mandate and hope that any recommendations are adopted by tax authorities.
Taxation of Technical Services under the New Article 12A of the UN Model – Improved Taxation or a Step in the Wrong Direction?
Authors: Sixdorf F. , Leitsch S.
Published: December 2023

In this article, the authors examine the new article 12A of the UN Model (2017), which addresses technical services. The goals of the UN Model, as well as the objectives pursued by the UN Committee with the introduction of this new provision are presented, followed by an analysis of whether the new article meets these objectives.
Transfer of Assets Regime Applicable to US Company's PE under Tax Treaty
Non-Discrimination Rule
Authors: Nieminen M.
Published: December 2023

This note examines the Supreme Administrative Court's decision in KHO
2013:169 (25 October 2013), wherein a US resident company claimed that the
Finnish transfer of assets rules resulted in prohibited discrimination of its
Finnish PE under the Finland-United States Income and Capital Tax Treaty
(1989).