bluuebunny/crossref_metadata_2025 huggingface dataset:
Overview of Canadian Fiscal and Tax Administrative Measures in Response to the COVID-19 Pandemic
Authors: Beswick B. , Anderson B.
Published: December 2023

This article summarizes at a high level the key Canadian fiscal and tax administrative response to COVID-19 as of 20 July 2020.
Taxation of artistes and sportsmen under Singapore's domestic law and
its tax treaties
Authors: Tan H.T. , Oei J.
Published: December 2023

This article examines the taxation of artistes and sportsmen under
Singapore's domestic law and its tax treaties. The article sets out the
domestic tax provisions and Singapore's general anti-avoidance rule and
examines the interaction between the domestic provisions and Singapore's tax
treaties, with emphasis on the treaty provision on artistes and sportsmen. The
article also discusses some conceptual issues relating to that provision and
comments on selected "artistes and sportsmen" articles in Singapore's treaties
which have unusual wording. Since Singapore is a small player in the world of
entertainment and sports, the focus is on Singapore as the source
state.
New Rules on Dividend Claims Regarding Cum-Ex Trades and Late Settlements
Authors: Peters M.J.
Published: December 2023

After 20 years of different unsuccessful initiatives to resolve the problems surrounding cum-ex trades, there is finally a new regulation that seems to work for both the tax authorities and market parties. This article considers the new Dutch rules on cum-ex trades, late settlement and dividend claims.
Microsoft Denmark: Incidental Benefit Did Not Qualify as a Service Transaction
Authors: Wittendorff J.
Published: December 2023

This article discusses a recent transfer pricing case in Denmark regarding Microsoft Denmark ApS.
The New World of Pillar One – Practical Thoughts on the New Scope
Authors: Altenburg N. , Schlücke K.
Published: December 2023

This article provides an overview of the challenges arising under the broadened scope of Pillar One, which was suggested by the United States in April this year. Furthermore, the authors look deeper into the practical effects this new approach might have for taxpayers, and address relevant questions and potential solutions related to Amount A that should be considered in the ongoing legislation process.
Overview of General Turnover Taxes and Tax Rates – January 2022
Authors: Annacondia F.
Published: December 2023

Almost all countries levy a general turnover tax, i.e. a tax on essentially all goods and services supplied by manufacturers, traders and service providers. Those turnover taxes are mostly levied under a VAT type of tax system and, in a decreasing number of cases, as a multi or single-stage (retail) sales tax. This article presents an overview of those general turnover taxes and the tax rates applicable on 1 January 2022.
The Implications of Treaty Application for a Netherlands Closed Fund for Mutual Account
Authors: Vermeulen H.
Published: December 2023

This article examines how the Netherlands has implemented the suggestions in the Commentary on Article 1 of the OECD Model (2010) regarding collective investment vehicles in respect of the Netherlands closed fund for mutual account in its tax treaties and competent authority agreements.
VAT on Intercompany Supplies: Why Skandia Is a Big
Deal
Authors: Zutt J.
Published: December 2023

In the recently issued decision in the Skandia
case, the European Court of Justice ruled on the VAT treatment of services
rendered within a VAT group. Following this ruling, potentially all
intercompany cross-border transactions of a multinational financial institution
could be in scope of VAT. The author presents and analyses a case study to
illustrate the possible effects for European VAT groups.
State of Play of Intra-Group Financing Arrangements
Authors: D'Angelo R.
Published: December 2023

The author provides an overview of intra-group financing arrangements from a corporate, tax and accounting perspective. It also discusses the treatment of interest-free loans from the perspective of both the tax authorities and the Supreme Court and considers the characterization by Italian courts of cash pooling arrangements – including their possible recasting as intra-group loans.
The Anti-Avoidance Response to Professionals Incorporating Companies in Singapore
Authors: Ooi V.
Published: December 2023

The issue of whether the incorporating of companies by professionals in Singapore constitutes tax avoidance has attracted considerable attention. The recent case of GCL v. CIT provides some guidance in this area. It reaffirms the general two-part test in CIT v. AQQ, requiring one to first apply the objective predication principle before moving on to consider the subjective bona fides commercial reason exception. It establishes that the mere fact that a professional incorporated a company through which to practise would not be sufficient to constitute tax avoidance, since such an arrangement is common and widely used, with established commercial benefits. However, the salary paid to a professional is subject to scrutiny and cannot be artificially reduced. Doing so may constitute tax avoidance and/or attract an ‘arm’s length’ adjustment under section 34D of the ITA. It also establishes that the ‘personal exertion principle’ has no basis in Singapore.
The Transfer Pricing Implications of GILTI for Transfer Pricing in the Pharmaceutical Sector
Authors: McClure J.H.
Published: December 2023

Pharmaceutical multinationals generate substantial profits from their ownership of valuable intangible assets including patents and marketing intangibles. Their production activities are often vertically integrated with the production of active pharmaceutical ingredients occurring in Western Europe with the fill and finish function occurring in India. The transfer pricing challenges have led to numerous litigations where tax authorities have accused multinationals of shifting profits to tax havens. This article discusses the transfer pricing issues in litigations involving Canada, India and the United States, noting how the applications of market-based approaches versus profits-based approaches lead to very different results.
Recent developments regarding the credit for foreign withholding taxes
in relation to derivatives
Authors: Specken W.H.A. , Peters M.J.
Published: December 2023

After much debate and case law, it is now generally recognized that in
respect of Dutch income tax treaties concluded after 1980 referring to the
relevant Dutch domestic rules concerning the avoidance of double taxation, only
net income should be taken into account for purposes of the second of two
limitations. This article elaborates on recent developments concerning the
scope of the term "related costs" and, where appropriate, considers the
potential bearing thereof on the treatment of derivatives in this
context.
DAC8: Commentary on the European Union’s New Crypto Tax Reporting Regime
Authors: Bernt M.
Published: December 2023

This article contains an overview and commentary on the final draft of DAC8 (i.e. the Presidency compromise text of the Draft Council Directive amending Directive 2011/16/EU on administrative cooperation in the field of taxation), which, at the time of writing, had not yet been formally adopted or published in the Official Journal. The article was drafted mainly on the basis of relevant documents provided by the European Commission. In some respects, however, the article reflects the author's own opinion; where this is not evident from the text, it is clearly stated.
Transfer Tax Regulations in Poland
Authors: Kanczew M.
Published: December 2023

This article provides a general overview of the Polish transfer tax regulations and their possible application to transactions involving foreign entities.
The End of Intra-Group Financing ... or Not Just Yet? – Part 2
Authors: Janssens P. , Ledure D. , Vandepitte B. , Loos J.
Published: December 2023

This article examines, first, how the outcome of the OECD BEPS Project will impact numerous aspects of intra-group financing as multinationals currently know it, serving as a roadmap for the reader to navigate through the jungle of rules considered and proposed by the OECD. At the same time, the authors are critical of the OECD’s proposals and analyse the extent to which they might result in collateral damage for the funding of group or business investment in general. Part 1, which was published in European Taxation 7 (2015), addressed the borrower’s perspective, while Part 2, published herein, analyses the lender’s perspective.
A Danish View on Information Exchange and Cross-Border
Cooperation
Authors: Riis A.
Published: December 2023

The basis for, and the scope of, information exchange and cross-border
cooperation between tax authorities have extended significantly in recent years
and represent a major and probably necessary change to international taxation.
This article provides a Danish perspective on this topic.
The Income Tax Settlement Commission
Authors: Verma D.
Published: December 2023

In this article, the author reviews the history, operational procedures and performance of India’s alternative tax dispute resolution body, the Income Tax Settlement Commission. He canvasses the strengths and weaknesses of the Commission and concludes that it provides an attractive, relatively speedy and cost-efficient effective means for taxpayers to resolve tax disputes with the Income-tax Department, but observes that some taxpayers – particularly corporate taxpayers – are reluctant to use the service, and addresses the reasons why this is so.
Corporate mobility in the European Union and exit taxes
Authors: Panayi C.H.J.I.
Published: December 2023

The author, in this article, examines corporate mobility from a
private international law perspective and an EC law perspective. In this
respect, the author pays special attention to the relevant case law of the
European Court of Justice and considers its implications for exit tax regimes
in Europe.
Private Equity Comes under Tax Scrutiny
Authors: Joseph A.
Published: December 2023

Following closely upon the floatation of shares in Myer Holdings Limited (a large retail group in Australia) by the foreign private equity firm, TPG Myers, the Australian Taxation Office issued two draft taxation determinations to clarify its position regarding taxation of private equity enterprises in Australia. The determinations have caused much consternation among foreign equity investors.
Opinion Statement ECJ-TF 2/2017 on the ECJ Decision of 21 December 2016 in World Duty Free Group and Others (Joined Cases C-20/15 P and C-21/15 P), Concerning the Requirements of Selective Aid in the Sense of Article 107 of the TFEU
Authors: CFE ECJ Task Force
Published: December 2023

This CFE Opinion Statement, submitted to the European Institutions on 29 June 2017, discusses World Duty Free Group (formerly Autogrill España); Banco Santander and Santusa Holding (Joined Cases C-20/15 P and C-21/15 P), wherein the ECJ held that that an aid can be regarded as selective if the national tax measure deviates from the reference framework: it is not necessary to show that the national tax measure actually favours a specific group of undertakings or the production of specific goods.
Ne Bis In Idem: The Court of Justice of the European Union Weighs in on the Tax Debate
Authors: Vermeire L. , Cassimon L.
Published: December 2023

In this article, the authors outline the ne bis in idem principle based on the Charter and recent ECJ decisions. Further, they compare and contrast such ECJ case law with case law of the European Court of Human Rights.
The Subject-to-Tax Requirement in the EU Parent-Subsidiary Directive (2011/96)
Authors: Arginelli P.
Published: December 2023

In this article, the author analyses the requirement in the EU Parent-Subsidiary Directive (2011/96) for a company to be subject to one of the taxes listed in Annex I, Part B of the Directive, without the possibility of an option or of being exempt, or to any other tax that may be substituted for any of those taxes, particularly in light of the recent decision of the Court of Justice of the European Union (ECJ) in Wereldhave (Case C-448/15).
A Brief Overview of the Court’s “Two-Minute” Reasoning in the Transocean Cases
Authors: Skaar A.A.
Published: December 2023

In this note, the author discusses the Transocean cases, a series of criminal and civil cases addressing the tax consequences of business activities on the continental shelf of Norway towards the end of the 1990s.
The Final Ruling of the German BFH in W AG (Case C-538/20) Concerning Non-Deductibility of Treaty-Exempt Final PE Losses
Authors: Kollruss T.
Published: December 2023

This note critically examines the final ruling of the German Supreme Tax Court (BFH) in I R 35/12 (22 February 2023) on the ECJ decision in W AG (Case C-538/20) regarding a denial of consideration of final permanent establishment losses where there is a treaty exemption. Open questions and implications for the deduction of final losses under EU law are elaborated on. Furthermore, the effects of the W AG decision and the final ruling of the German BFH on the deduction of final losses from foreign subsidiaries are discussed.
Proposal for a Common Corporate Tax Base (CCTB): The Case for Foundational Principles
Authors: Mock O.
Published: December 2023

The European Commission has presented a proposal for a Council Directive on a Common Corporate Tax Base (CCTB), which contains a comprehensive approach to harmonizing the rules for calculating the corporate tax base in the European Union. As the existing national rules are based on long-standing systems, critical issues arise in respect of interpretation and legal uncertainty. The present article contains a suggestion to solve this problem by introducing a system of specific European tax principles.
The European Commission’s Arm’s Length Standard: Relationship and Compatibility with the Arm’s Length Principle under Transfer Pricing
Authors: Bonnici R. (Ruth)
Published: December 2023

The European Commission’s Decisions on State aid have sparked an international uproar, especially in regard of the Commission’s methodology and conclusions. In this article, the author seeks to provide insight into the Commission’s most contentious and sustained pronouncement, namely that an autonomous arm’s length standard is embedded within the main State aid provision enshrined within the Treaty on the Functioning of the European Union. The author looks into the nature of the Commission’s arm’s length standard, its definition and implications.
The Interface between the New Australian Transfer Pricing Regime and the
OECD BEPS Report and Action Plan
Authors: Gonzaga L.
Published: December 2023

This article critically examines the recent changes to the Australian
transfer pricing legislation in light of the OECD reports on base erosion and
profit shifting (BEPS).
Maltese Tax Litigation Taken by Storm
Authors: Attard R.
Published: December 2023

The decision of the Constitutional Court in John
Geranzi Limited v. Commissioner of Inland Revenue, wherein it was
determined that a taxpayer’s right to a fair hearing had been infringed and
that Maltese additional tax is in the nature of a criminal sanction, has had a
significant impact on both tax law cases and substantive law. The author, in
this note, comments on the impact of the decision.
The International Compliance Assurance Programme: Review of the Full Programme
Authors: Martini M. , Russo R. (Ronald)
Published: December 2023

In this article, the authors review the progress that the OECD has made in instituting and revising its International Compliance Assurance Programme (ICAP) and suggest ways in which the ICAP could be improved in the future.
Holding Period Continuity for the Purpose of Claiming a Withholding Tax Exemption in the Context of a Restructuring: The Practice of the Polish Tax Authorities and Courts
Authors: Lewicki T.
Published: December 2023

This article discusses the recent approach of the Polish tax authorities and administrative courts towards the application of the domestic dividend withholding tax exemption in regard to reorganizations, mainly at the EU parent company level, that affect shareholdings in Polish subsidiaries. The focus is on the divergent tax law interpretations of the lower instance tax authorities and certain regional courts, as well as a potential breach of the EU directives.
ECJ Determines “Only in Belgium” Excess Profit Ruling Practice Constitutes Aid Scheme, but Did It Provide Illegal Aid?
Authors: Michel B.
Published: December 2023

In this article, the author analyses the ECJ’s decision in European Commission v. Kingdom of Belgium and Magnetrol International (Case C-339/19), a case concerning the Belgian excess profit ruling practice and the question of whether the EU Commission had rightly qualified the excess profit exemption as an “aid scheme” giving rise to illegal State aid.
How Can VAT Symmetry Drive Payments Innovation?
Authors: Breimer B. , Kroft J. van der , Kuijsten P.
Published: December 2023

This article discusses the inconsistent application of VAT on payment services within the European Union and how this disparity may negatively affect innovation. The authors analyse how to improve this.
Opinion Statement FC 7/2018 on a Proposal for a Council Directive Amending Directive 2006/112/EC, as Regards the Introduction of Detailed Technical Measures for the Operation of the Definitive VAT System for the Taxation of Trade between Member States (2018/0164(CNS))
Authors: CFE Fiscal Committee
Published: December 2023

This CFE Opinion Statement concerns the EU proposal to amend the VAT Directive to introduce detailed technical measures for the operation of the proposed definitive VAT system. In this Statement, the CFE sets out its concerns regarding the practical implications of introducing “Certified Taxable Persons” and the potential impact of the proposed Directive on SMEs, call-off stock and chain transactions, reverse charge supplies and the special schemes extending the one-stop account for VAT.
Taxpayer Rights in Dispute Resolutions: The Brazilian Case
Authors: Bianco J.F. , Neto L.F.
Published: December 2023

In this article, the authors deal with the issues that taxpayers may face when they appear before Brazilian courts.
The taxation of Islamic financial instruments
Authors: Bukhari H. , Haq I.
Published: December 2023

An article on the current position of Islamic finance in Pakistan in
light of the growing industry internationally. The authors discuss the various
modes of Islamic finance in Pakistan pursuant to the sharia principle and their
related tax treatment. The article also covers the tax and regulatory
uncertainties faced by the industry, its similarities in practice with
conventional banking techniques and measures that need to be taken to further
encourage the growth of this industry in Pakistan.
Distressed Debt and the US Original Issue Discount Rules: An Intricate
Web for the International Investor
Authors: Bender K. , Breitmeyer S. , Galinski C.
Published: December 2023

In light of recent changes to the US Regulations concerning what it
means for property to be “publicly traded” for purposes of determining the
original issue discount of a debt instrument, the authors provide a review of
the current rules governing original issue discount.
Recent Transfer Pricing Developments
Authors: Didenko V.
Published: December 2023

This article provides an outline of recent changes to Ukraine’s transfer pricing rules, presents the new list of low-tax jurisdictions and describes additional anti-abuse measures.
A Comparative Study of the “Royalties” Provisions in the Tax Treaties Concluded by China
Authors: Lan S.
Published: December 2023

In this article, the author undertakes a comparative study of the “royalties” provisions in the tax treaties that China has concluded by way of a general examination of the various issues relating to “royalties” together with an examination of specific examples.
Central Board of Direct Taxes Sets Up Income Tax Overseas Units in Its Bid To Join Global Efforts To Increase Transparency in International Financial Matters
Authors: Patel V.T.
Published: December 2023

The author considers steps being taken in India to address the issue of so-called “black money” and other tax avoidance schemes.
The Effectiveness of the Multilateral Instrument in Amending the Bilateral Treaty Network: (On) the Measure of Multilateral Success
Authors: Vergouwen T.M. , Broekhuijsen D.M. , Reijnen J.J.H.
Published: December 2023

In this article, the authors discuss the implications of their study on the effectiveness of the Multilateral Instrument (MLI). Their analysis finds that there are 79 parties to the MLI and that the MLI covers 1,231 tax treaties and that the OECD currently overreports the effectiveness of the MLI.
Dispute Prevention Avenues for Permanent Establishments
Authors: Critchley R.S.
Published: December 2023

The global way businesses operate and the measures proposed by the base erosion and profit shifting (BEPS) Project by the OECD have transformed the tax field in recent years. With a potential increase in disputes and lengthy, costly dispute resolution procedures (i.e. MAPs and arbitration procedures), there is an emphasis on measures to avoid disputes in the first place. This article focuses on instruments that permanent establishments (PEs) may have to obtain upfront certainty on the interpretation of domestic legislation or tax treaties, thereby avoiding disputes and ensuring a reduced risk of double taxation of profits.
Commission
Authors: Morales T.
Published: December 2023

This overview highlights the Commission’s (i) appeal of the General Court’s decision on the Apple and Ireland State aid case, (ii) detailed guidance regarding the new VAT e-commerce rules, (iii) working documents on the VAT aspects of the digital economy, (iv) renewal of the authorization of the Swedish Tax Scheme for Biofuels and (v) extension of the State Aid Temporary Framework to support the economy in the context of the COVID-19 pandemic.
New Policy on Investment Promotion
Authors: Morstadt T.
Published: December 2023

Thailand offers investors a wide variety of tax and non-tax incentives which are largely regulated and administered by the Board of Investment. After many years, the Board of Investment is rethinking the focus of its investment promotion policy and the author provides a succinct description of the changes being considered.
Tax Shelter for Start-Ups
Authors: Goemaere T. , Hoogendijk F.
Published: December 2023

The authors describe an attractive set of incentives that have been enacted for start-ups, including a tax reduction granted in respect of the acquisition of new shares issued by start-ups, a withholding tax exemption on interest from loans provided to start-ups and a partial exemption from the requirement for a company to remit wage withholding tax to the Treasury.
New Headquarter Company Regime
Authors: Mazansky E.
Published: December 2023

In this article, the author examines the various legislative changes made in 2010 and the reasons for them, in establishing the new South African headquarter company regime, which has effect from 1 January 2011.
Opinion Statement ECJ-TF 1/2022 on the ECJ Decision of 25 November 2021 in État Luxembourgeois v. L (Case C-437/19) on the Conditions for Information Requests and Taxpayer Remedies
Authors: Kofler G. , Garcia Prats A. , Haslehner W. , Heydt V. , Kemmeren E. , Lang M. , Nogueira J. , HJI Panayi C. , Raventós-Calvo S. , Richelle I. , Rust A. , Shiers R.
Published: December 2023

In this CFE Opinion Statement, the CFE ECJ Task Force comments on the ECJ decision in État luxembourgeois v. L (Case C-437/19) of 25 November 2021. This decision brings further clarification on the rights of information holders in respect of cross-border exchange of information, as well as on the concept of “foreseeable relevance”.
Opinion Statement ECJ-TF 2/2016 on the Decision of the Court of Justice of the European Union of 13 July 2016 in Brisal and KBC Finance Ireland (Case C-18/15), on the Admissibility of Gross Withholding Tax of Interest
Authors: CFE ECJ Task Force
Published: December 2023

This Opinion Statement of the CFE ECJ Task Force analyses the ECJ’s decision in Brisal and KBC Finance Ireland (Case C-18/15) of 13 July 2016. Following a Portuguese reference for a preliminary ruling, the Court’s decision provides further clarification on the permissibility of withholding taxation within the European Union. In relation to interest, the Court held that non-resident taxpayers may be subject to withholding taxes (even if comparable residents pursuing the same activity are not) but that non-residents may nevertheless not be taxed on gross income (when comparable residents are taxed on net profits) and are, therefore, entitled to deduct expenses directly connected to their business activity.
Transfer Pricing and Valuation of Intangible Assets: The French Supreme Administrative Court Opens a Debate about the Weighting of Methods
Authors: Douvier P-J. , Gocer S.
Published: December 2023

In its decision of 27 October 2022 in the Sacla case, the French Supreme Administrative Court overturned the lower administrative courts’ decisions in a long-running transfer pricing battle over how to value taxpayers’ brands. Whereas the court-appointed expert witness calculated a weighted average from the results of applying the historical cost-based method and the discounted cash-flow method, the lower courts relied only on the latter method without sufficient reasoning, the French Supreme Administrative Court found. The case at stake went deeply into details in the valuation process. However, the French Supreme Administrative Court only overturned the decision on the grounds of distortion, which means there are still outstanding issues to be tackled.
The Increasing Importance of Intangible Assets and the Rise of Profit Split Methods
Authors: Milewska M. , Hurtado de Mendoza M.
Published: December 2023

One of the proposed changes in the 2009 edition of the OECD Guidelines is the new emphasis on the profit split method, which is to be used in those cases where there is insufficient data available to apply the traditional transaction methods. The present article considers this method, including its strengths and weaknesses, its application to locally developed intangibles, both from a general and a Mexican perspective. This article also reflects on relevant experiences with the Mexican tax authorities.
Court of Justice
Authors: Morales T.
Published: December 2023

This overview highlights the ECJ’s decisions on (i) a domestic anti-abuse provision that denies the deductibility of interest paid between a company established in a Member State and an associated entity on the grounds that the main reason for the transaction was to receive a substantial tax benefit, and (ii) compatibility of a temporal deferral scheme regarding aviation taxes for registered airlines with the freedom to provide services and the internal market.
Changes in Transfer Pricing Legislation and Practice
Authors: Lasiński-Sulecki K.
Published: December 2023

The author considers changes to Polish transfer pricing rules and critically analyses recent approaches of the tax authorities towards the interpretation of transfer pricing provisions. Both legislative changes and interpretative approaches are partly connected with the BEPS Final Reports released in late 2015 by the OECD, which are aimed at reducing possibilities of tax avoidance.
Implementation of the New Anti-Avoidance Provisions of the Parent-Subsidiary Directive (2011/96) into Swedish Law
Authors: Kleist D.
Published: December 2023

In this article, the author outlines the implementation of the new anti-avoidance provisions of the Parent-Subsidiary Directive (2011/96) into Swedish law and raises the question of whether or not the minimalistic implementation strategy chosen by the Swedish legislator adequately complies with the requirements of the provisions.
Opinion Statement of the CFE on the Auto Lease Holland BV Case (C-185/01)
Authors: Confédération Fiscale Européenne
Published: December 2023

This is an Opinion Statement prepared by the Fiscal Committee 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.
The Madeira Free Trade Zone: Compliance and Control Issues
Authors: Vasques S.
Published: December 2023

This article examines the evolution and current state of the Madeira Free Trade Zone and, in particular, its international services centre. The author provides critical comments on problems in administering and monitoring the scheme and on the use of offshore regimes as a tool for the development of Europe’s peripheral regions.
Taxation of Income from a Composite Contract for a Turnkey Project
Authors: Verma D.
Published: December 2023

In this article, the author reviews the legal provisions and landmark court decisions relating to the taxation of income from a composite contract entered into by a foreign company. He delineates the uncertainties surrounding the tax liability from such projects, which is the subject of much litigation. He concludes that a foreign company’s tax liability arising from the offshore supply and offshore services component of the composite contract is fairly settled, provided that the contractual documents are carefully drafted.
When Are Domestic Anti-Avoidance Rules in Breach of Primary and Secondary EU Law? – Comments Based on Recent ECJ Decisions
Authors: Bundgaard J. , Koerver Schmidt P. , Tell M. , Nørgaard Laursen A. , Aarup L.B.
Published: December 2023

Based on the ECJ decisions in Eqiom SAS (Case C-6/16), as well as Joined Cases Deister Holding (Case C-504/16) and Juhler Holding (Case C-613/16), the authors discuss the interplay between Member States’ domestic anti-avoidance rules, the Parent-Subsidiary Directive and the basic freedoms. In addition, the article contains a discussion on the degree to which the EU prohibition of abuse can be invoked even in the absence of national anti-avoidance measures.
A Blueprint for Restructuring the OECD Model’s Distributive Rules
Authors: Raad C. van
Published: December 2023

While frequent readers of tax treaty texts are used to them, the OECD Model’s distributive rules (Articles 6-22) give rise to misinterpretation and misapplication by employing a combination of confusing approaches to accomplish single taxation. The author analyzes the existing rules and presents a blueprint for more transparent rules.
Case Note: Lenders’ Fees Not Linked to Loan Are Not Interest Income
Authors: Dugar A. , Bhandari L.
Published: December 2023

This case note sets out the ruling by the Authority for Advance Rulings in Societe De Promotion Et De Participation Pour La Cooperation Economique that an appraisal front-end fee charged by the taxpayer to its client borrowers was not taxable in India as interest because it was not linked to the loan and not payable if the loan was not approved. However, all other fees (i.e. non-appraisal front-end fees, commitment fees, cancellation fees, monitoring fees and amendment fees) were taxable in India as interest income in terms of article 12(4) of the France-India Income and Capital Tax Treaty (1992) because they were payable only after the debt claim came into existence.
“Circularly Linked” Rules Countering Deduction and Non-Inclusion Schemes: Some Thoughts on a Tie-Breaker Test
Authors: Dziurdź K.
Published: December 2023

Countries have rules to address the deduction of payments that are excluded from a recipient’s taxable income and the non-inclusion of income deductible by a payer. If two countries have such rules and both consider the treatment in the other, the rules are “circularly linked”. Could a tie-breaker test resolve this?
New Development and Analyses on Indonesia’s Transfer Pricing Regulation
Authors: Daholi T.Q.H. , Dewantara A.R.
Published: December 2023

In the beginning of 2020, Indonesia released the amendment for advance pricing agreement regulation which included transfer pricing provisions. In this article, the authors briefly review the transfer pricing aspect of the new regulation, analyse its key features, and highlight tax court decisions.
State Aid Recoveries and the US Foreign Tax Credit
Authors: Ruchelman S. , Apostolides A.
Published: December 2023

The authors examine whether State aid recovery payments may qualify for indirect foreign tax credits in the United States. The tax year linked to the recovery payment may affect the value of the credit. If earnings, tax payments and dividends are not well matched, the credit may be lost or diminished in value. The authors suggest that State aid recoveries are trade disputes to be resolved before the International Court of Justice, not an EU tribunal.
Corporate Loss Utilization through Aggressive Tax Planning
Authors: Diaz de Leon J.
Published: December 2023

Global corporate losses have increased significantly in recent years. Where the resulting loss carry-forwards cannot regularly be utilized by taxpayers, it may happen that some of them look for loopholes and develop aggressive tax planning techniques in order to deploy the use of the losses in tax planning. For this Comparative Survey, the authors look into corporate loss utilization and present a description and analysis of the situation in their country. Country report on Mexico.
The OECD/G20 Base Erosion and Profit Shifting (BEPS) Initiative and the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
Authors: Berbari A.
Published: December 2023

In this article, the author considers the implications of the OECD Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the “MLI”) for the OECD/G20 Base Erosion and Profit Shifting initiative in general, and specifically of the United States not signing the MLI.
Voluntary Compliance
Authors: Seer R.
Published: December 2023

In this article, the author describes the concept of voluntary tax compliance and discusses factors that have a significant influence on taxpayers’ behaviour.
European Union Own Resources and Post-Covid Sustainability: The Italian Plastic Tax in the European Context
Authors: Allena M.
Published: December 2023

In this note, the author discusses the new Italian plastic tax, which will be effective 1 January 2022. The author describes the characteristics of the tax, including certain aspects that still need to be defined, and its interplay with the new European plastic tax.
Interpretation of the Term “May Be Taxed”
Authors: Varshney K.C.
Published: December 2023

In this article, the author examines the way in which India’s courts and Income Tax Appellate Tribunal have applied the term “may be taxed” in India’s double taxation treaties. He finds that, despite a notification issued by the Central Board of Direct Taxes in 2008, which prescribes how the term is to be interpreted, many judicial decisions have failed to apply the ruling, and to address commentaries explaining the meaning of the term. Since this has led to uncertainty in application of the treaties, the author advocates early reconsideration of the issue by India’s Supreme Court.
Look-Through Tax Treatment of Foreign Entities in Spain – Background and New Guidance
Authors: Sánchez de Castro Martín-Luengo E.
Published: December 2023

A new resolution has been issued on the qualification of foreign entities as look-through entities for Spanish tax purposes. It establishes the tax treatment in the jurisdiction of incorporation as the single element to be considered, instead of assessing its legal nature. The resolution, however, increases the level of uncertainty.
The Spanish Holding Companies Regime – Possible Trends for the Future and Other Alternatives within Spain
Authors: Loran M. , Villa E.
Published: December 2023

This article analyses the current Spanish holding companies regime and discusses the differences between the common Spanish regime and the Basque holding regime. It further deals with the 2019 failed proposed changes to the Spanish holding regime and gives some thoughts for future amendments.
Maltese Laws Held To Be Special Regime under Malta-Netherlands Income and Capital Tax Treaty (1977)
Authors: Mooij Hans
Published: December 2023

The author, in this article, examines a recent decision of the Netherlands Supreme Court (Hoge Raad), in which Maltese laws, due to their low tax rate of 6.25%, were held to be a special regime under the Malta-Netherlands Income and Capital Tax Treaty (1977), thereby excluding taxpayers from the application of the treaty.
The Taxation of Mineral Resources – From the Resource Super Profits Tax
to the Minerals Resource Rent Tax
Authors: Butler M.
Published: December 2023

The article charts the recent rapid and dramatic developments in the
taxation of mineral resources in Australia. From the inception of the
controversial resource super profits tax, to its sudden demise and far-reaching
consequences, and to its proposed replacement, the minerals resource rent
tax.
The Australian Offshore Banking Unit Regime: Modernizing the Rules
Authors: Joseph A.
Published: December 2023

The author, in this article, explains the operation of the Offshore Banking Unit (OBU) regime in Australia before and after the recent amendments to it. The changes apply as from the beginning of July 2015.
Finland Introduces Changes to the Withholding Tax Treaty Claim Process for Non-Resident Portfolio Investors by Adopting the OECD’s Treaty Relief and Compliance Enhancement Package
Authors: Radcliffe P. , Popova A.
Published: December 2023

This article discusses the forthcoming changes to the Finnish withholding tax treaty claim process for non-resident portfolio investors through the adoption of the OECD’s Treaty Relief and Compliance Enhancement (TRACE) Implementation Package. It is hoped that successful implementation of the TRACE Implementation Package in Finland will encourage other countries to adopt it as well.
Japanese Taxation of Trusts
Authors: Suzuki Y.
Published: December 2023

In this article, the author discusses some aspects of Japanese gift
tax law with regard to foreign trusts, focusing on a recent Japanese court
case. The article also investigates how to interpret and apply Japanese tax
legislation in connection with cross-border matters.
Taxpayers’ Rights in Court: To Suspend or Not to Suspend
Authors: Davis D.M.
Published: December 2023

In this article, the author examines some of the issues relating to taxpayer rights as well as the balance to be struck between the protection of these rights and the interests of the Revenue Authority that can and, in some cases, have arisen when taxpayers appear before the tax courts in South Africa.
Tax Issues Relating to Qualified Foreign Institutional Investors: The Chinese Experience
Authors: Cui X. , Chen J. (Jingxian)
Published: December 2023

This article considers the issues that have arisen regarding tax administration and collection in respect of qualified foreign institutional investors (QFIIs), including the withholding tax obligations of listed companies, tax information asymmetry and the identification of taxpayer shareholdings. The authors conclude that the system for QFIIs requires further refinement.
New Guidance on Transfer Pricing Documentation
Authors: Balco T.
Published: December 2023

Recently, the Slovak Ministry of Finance has issued new guidance on transfer pricing documentation. This guidance establishes three categories of documentation based on the degree of detail of the information regarding a taxpayer’s risk profile and thus balances the state’s tax revenue protection interests while also attempting to relieve a potentially unreasonably high documentation burden for certain taxpayers regarded as low risk from a transfer pricing perspective.
Transfer Pricing Audit Guidelines
Authors: Llanes Navarro C. , Dorson D. , Tewari S.
Published: December 2023

The Indonesian tax authorities recently issued guidelines for transfer
pricing audits, by way of PER 22/PJ/2013, Guidelines for Audits
of Taxpayers with Special Relationships on 30 May 2013. The salient
points of these guidelines are discussed in this article.
Netherlands and Luxembourg : targets of the new concept of tax haven in
Brazil?
Authors: Dantas J. , Tukiama E.
Published: December 2023

This article describes the new concept of tax haven in Brazil, as
established by Law 11,727/2008, and the consequences it could have for
Brazilian companies in their relations with international group companies and
third parties. With regard to the latter, the authors focus on the impact of
this new concept on transactions with parties located in the Netherlands or
Luxembourg.
New Circular on the Application of Tax Treaties to Partnerships
Authors: Eckl P.
Published: December 2023

This note examines the Circular recently published by the German
Federal Ministry of Finance on the application of tax treaties to partnerships
with a particular focus on “fictitious commercial partnerships” and “special
partnership income”.
Draft Circular Sheds Light on Tax Ramifications of Italian Taxation of Trusts
Authors: Trainotti A. , Fabbiano S.
Published: December 2023

This note examines the tax treatment of trusts in Italy in light of a draft Circular of the Italian tax authorities, published in August 2021, on Italian tax provisions related to trusts.
Case Note: Non-Compete Fees Paid on the Sale of Shares Not Taxable
Authors: Dugar A. , Bhandari L.
Published: December 2023

This case note sets out the ruling by the Authority for Advance Rulings in HM Publishers Holdings Limited that the receipt by a shareholder of non-compete fees paid on the sale of shares of a company to another company constitutes business income. However, in the absence of a permanent establishment in India, the foreign shareholder was not chargeable to tax in India under the India-United Kingdom Income Tax Treaty (1993).
A Current Regulatory Overview of the Derivatives Market
Authors: Yang T. , Dare Bryan P.
Published: December 2023

This article provides an overview of the current Chinese legal framework that governs the three pillars of the Chinese derivatives market, namely cross-border derivatives transactions, the domestic interbank market and the domestic exchange market.
Digital Permanent Establishment and Digital Equalization Taxes
Authors: Sheppard Lee
Published: December 2023

In this article, the author examines the new OECD and European Commission reports on how to tax the digital economy.
Introduction of the Principal Purpose Test and Discretionary Benefits Provisions into Singapore’s Tax Treaties: Not as Black as It Is Painted
Authors: Kuźniacki B.
Published: December 2023

This is the second part of a comprehensive two-part article, which addresses the manner in which, and the possible reasons why, Singapore adopted the principal purpose test (PPT) and the discretionary benefits provisions in the OECD’s Multilateral Instrument, and the potential consequences of that decision. This part examines hypothetical consequences of the incorporation of the PPT and the discretionary benefits provision into Singapore’s tax treaties. The author challenges certain aspects of mainstream scholarship, according to which the introduction of the PPT by offshore financial centres will most likely have a negative impact on efforts to attract foreign direct investment or otherwise jeopardize their business and tax competitive position. He concludes that Singapore’s – and other jurisdictions with a similar approach to taxation of income – way of meeting the minimum standard under the OECD’s BEPS Action 6 is quite bizarre: on the one hand, it may still allow highly mobile income to be channelled to tax havens and otherwise attract FDIs. On the other hand, it may allow the tax authorities of Singapore’s tax treaty partners that are high-tax jurisdictions to deny benefits under their treaties with Singapore to arrangements or transactions with economic substance and non-tax business purpose.
Administrative and Structural Challenges with the Prospective Indian GST Regime
Authors: Jain S.
Published: December 2023

This article canvasses the background to the introduction of the new comprehensive GST regime in India. The author then addresses some key reasons for introducing GST – expansion of the tax base, harmonization of India’s various indirect taxes and enhanced tax compliance – and shortcomings with the proposed regime; in particular, the multiplicity of rates, state- and federal-level duality of indirect taxes, involving multiple statutes, the treatment of petroleum products and the resultant failure of the new tax to eliminate the cascading effects of extant taxes, which was originally a key policy objective.
Manufacturing and Trading Incentives – Where Do We Stand Now in Asia?
Authors: Nguyen T.V.
Published: December 2023

This article is based on a comparative survey presented at the 2009 Baker & McKenzie Annual Asia-Pacific Tax Conference and provides an overview of the available tax incentives.
Towards an Automated VAT System in Italy: Obligations and Opportunities for Taxable Persons
Authors: Borselli F. , Petroni C.
Published: December 2023

In this article, the authors describe the Italian legislation on e-invoicing and the progressive digitalization of the VAT compliance system, outlining goals, consistency and limits of the new rules as well as the opportunities for taxable persons and tax authorities. Based on the experiences in Italy and in other countries, the authors underline the need for greater convergence of legal requirements and technological standards on e-invoicing across Europe. The route suggested would increase the competitiveness of EU businesses and pave the way for the implementation of further ambitious reforms of the European VAT system.
EU Tax Haven Blacklist – Is the European Union Policing the Whole World?
Authors: Kalloe V.
Published: December 2023

The author, in this article, places the recent EU tax haven blacklist into the context of a longstanding initiative of European institutions to promote EU principles of fair tax competition beyond Europe in order to combat harmful corporate tax practices. Moreover, by including OECD standards on tax transparency and base erosion and profit shifting in the screening criteria, the European Union has lent impetus to the push towards global compliance with the OECD BEPS Inclusive Framework.
Indirect Taxation of E-Commerce – Significant Recent Changes in the United States and the European Union
Authors: Tardivon-Lorizon E. , Quenette A.
Published: December 2023

The European Union and United States have both recently updated their approaches to the issue of how to prevent indirect tax loss in the e-commerce sector. In December 2017, the Council of the European Union adopted a Directive which will profoundly modify the EU VAT distance selling rules and rules applicable to imports of goods to non-taxable persons as from 2021. In June 2018, The US Supreme Court, in South Dakota v. Wayfair, Inc., overruled binding case precedent which had prevented states from collecting sales tax from out-of-state retailers lacking “physical presence” in the states on sales to in-state residents. While awaiting implementation of these new rules, in this article, the authors explore from a comparative perspective how two fundamentally different systems are trying to address the same problem.
Opinion Statement ECJ-TF 3/2017 on the Decision of the Court of Justice of the European Union of 16 May 2017 in Berlioz Investment Fund SA (Case C-682/15), Concerning the Right to Judicial Review under Article 47 of the EU Charter of Fundamental Rights in Cases of Cross-Border Mutual Assistance in Tax Matters
Authors: CFE ECJ Task Force
Published: December 2023

This CFE Opinion Statement, submitted to the European Institutions in November 2017, comments on the ECJ decision in Berlioz Investment Fund SA (Case C-682/15).
Exposure Draft on Investment Manager Regime
Authors: Joseph A.
Published: December 2023

This article considers the Exposure Draft on the Investment Manager Regime, which is aimed at strengthening Australia's position as a financial services centre.