bluuebunny/crossref_metadata_2025 huggingface dataset:
Transfer Pricing in the Automotive Supplier Industry
Authors: Adda M. , Bärsch S-E. , Kluge S. , Parlatore F.G.
Published: December 2023

Automotive suppliers are characterized by a centralized IP ownership, centralized provision of services, and a global presence of local plants that sell and invoice manufactured components directly to their customers’ local production facilities. All this makes cross-border intercompany transactions and the respective transfer pricing of automotive suppliers with respect to intangibles, manufacturing and services very challenging.
The Tax Treatment of Foreign Exchange Results and Hedge Instruments in Relation to Non-Deductible Interest Costs
Authors: Kok R.
Published: December 2023

This article analyses the tax impact of the connection between interest, inflation, foreign exchange rates and the expected changes in foreign exchange rates. A distinction is made between “real” foreign exchange results and “unreal” foreign exchange results and exposures. Furthermore, some strategies for hedging a foreign exchange exposure on debt are discussed. On the basis hereof, the basic conditions of a balanced tax system regarding the treatment of non-deductible interest, foreign exchange results on the debt on which the interest is not deductible and results on instruments used to hedge the foreign exchange exposure on the debt, are discussed. The analysis considers the Dutch situation as an example.
The Swiss Tax Ruling Practice: Recent Domestic and International Developments
Authors: Kläser J.
Published: December 2023

In today’s tax world, tax rulings are often considered obstacles to transparency and the fight against tax avoidance. Ever since LuxLeaks, the low level of transparency in corporate taxation has been recognized in the public debate. In this article, the author examines the Swiss ruling practice from both a domestic and an international perspective, with a special focus on the effects of the OECD/G20 Base Erosion and Profit Shifting initiative on the ruling practice.
Emerging Treaty Policies in Africa – Evidence from the African Tax Administration Forum Models
Authors: West C.
Published: December 2023

This article considers whether the African Tax Administration Forum (ATAF) Models (2016) and (2019) are unique or whether they are hybridized versions of the OECD and the UN Models. It also comments on the positions of ATAF member countries regarding the OECD Model (2017) and the MLI (Multilateral Instrument).
Germany: The Annual
Tax Act 2009
Authors: Eckl Petra
Published: December 2023

In this article, the author summarizes the most
important amendments for corporate and individual investors engaged in inbound
and outbound transactions contained in the Annual Tax Act 2009 (Jahressteuergesetz 2009, JStG 2009).
Federal Law Gazette I, 2008, p. 2794.
French Tax Treatment of Foreign Trusts and the Related New Public Register
Authors: l'Estoile Campi A. de , Meidani A.
Published: December 2023

This note provides a general overview of the French tax treatment of foreign trusts, in particular the application of the new rules regarding the tax treatment of foreign trusts introduced by Finance Amendment Law No. 2011-900 of 29 July 2011, as well as Decree No. 2016-567 of 10 May 2016, introducing a public register effective 30 June 2016.
Global Transfer Pricing Trends
Authors: Oosterhoff D.
Published: December 2023

Transfer pricing continues to be one of the most important tax challenges that multinational enterprises face, according to the 2010 Global Transfer Pricing Survey by Ernst & Young. This article provides insights regarding what has changed since the International Transfer Pricing Journal began featuring coverage of the Survey in 2000, the importance of controversy management, trends in transfer pricing issues and approaches, audit experiences and taxpayer approaches to compliance. It provides important insights into best practices that have been developed by MNEs in their efforts to comply with the arm’s length principle.
The Judicial System of Brazil: Legal Remedies under the Brazilian Tax System
Authors: Michel B. , Falcao T. , Meira T. de Barros
Published: December 2023

In this article, the authors provide an overview of the workings of the Brazilian judicial system, with special reference to the resolution of tax disputes.
The Revised OECD Discussion Draft on Transfer Pricing Aspects of Intangibles
Authors: Helderman L. , Sporken E. , Okten R.
Published: December 2023

In the second article of a series on the transfer pricing aspects of intangibles, the authors examine and summarize the most crucial changes made to the Discussion Draft of 6 June 2012. These changes are discussed in more detail, and conclusions and some recommendations for potential improvements are provided.
Exchange of Information on Request: Whenever, Wherever? Shakira’s (and Berlioz’s) Right to Judicial Review of the Foreseeable Relevance Standard
Authors: Michel B.
Published: December 2023

The author analyses the negative impact of the Global Forum peer review of Luxembourg on taxpayers’ right of judicial review of the foreseeable relevance of incoming requests for information. Recent case law at the European and national level is analysed, leading to the conclusion that such review is compulsory in EU Member States, which could affect the future direction of the Global Forum in the matter of taxpayer rights regarding the exchange of information on request.
The Kodak (2013) Case: The Applicability of Indian Transfer Pricing Provisions
Authors: Raj Kumar Jhabakh P.
Published: December 2023

In this article, the author discusses a recent decision of the Income Tax Appellate Tribunal on the applicability of the Indian transfer pricing legislation to domestic transactions, undertaken independently, but as part of a larger global transaction.
Liechtenstein and United Kingdom Sign Agreement to Ensure Tax Compliance of UK Clients
Authors: Hosp T.
Published: December 2023

In this note the author describes in detail the Liechtenstein–UK Tax Information Exchange Agreement, as well as the accompanying Liechtenstein–UK Memorandum of Understanding on cooperation in tax matters, which were signed on 11 August 2009 following Liechtenstein’s declaration on 12 March 2009 that it is committed to and will implement the OECD standards of transparency and exchange of information.
The Italian Tax System: International and EU Obligations and the Realization of Fiscal Federalism
Authors: Gallo F. , Melis G.
Published: December 2023

In this article, the authors reflect on the constraints on the Italian legislator deriving from EU and international provisions, with a particular emphasis on the delegation law regarding fiscal federalism, which is in the process of being implemented.
Taxation of the Digital Economy: A Pragmatic Approach to Short-Term Measures
Authors: Kofler G. , Mayr G. , Schlager C.
Published: December 2023

The taxation of profits within the digitalized economy has been at the forefront of the agendas of both the European Union and OECD, with the debates focusing on both long-term solutions and “quick fixes”, such as equalization taxes. In light of the political momentum that is building, this article briefly analyses and distinguishes between the various business models applicable to the digitalized economy with the aim of identifying a reasonable starting point for temporary, short-term measures.
Cross-Functional Collaboration and Change Management: The Key Ingredients for Tax Technology Transformation
Authors: Dickler A-M. , Roover E. de , Moebus H. , Baptista E. , Bakker A. , Kale S.
Published: December 2023

Tax technology implementation projects are destined to fail without cross-functional collaboration. This article unpacks the critical factors a multinational enterprise (MNE) needs to consider when embarking on a tax transformation project, including change management, robust project management, training across the organization and implementing the all-important tech-savvy mindset.
Proportional Granting of Personal and Family Allowances Following AG Opinion in X v. Staatssecretaris van Financiën (Case C-283/15)
Authors: Niesten H.M.L.
Published: December 2023

The author discusses the case of X v. Staatssecretaris van Financiën (Case C-283/15), in respect of which the Advocate General opined that personal and family allowances should be allowed depending on the proportion of income falling within the taxing jurisdiction of each Member State.
Cross-Border VAT Grouping
Authors: Zuidgeest R.
Published: December 2023

In this article, which is derived from his presentation at the Forum of the Confédération Fiscale Européenne (CFE) on 23 April 2009, the author argues that the territorial limitation of VAT grouping under EU law violates the principle of free establishment and prevents multinationals with a restricted right to recover input VAT from enjoying the advantages of shared service centres and other centralized functions. According to the author, it is possible to develop a VAT grouping system that would avoid distortions of competition.
Supreme Administrative Court Decision on Intra-Group Services Involving the Stock Spirit Group
Authors: Yeroshenko X.
Published: December 2023

This article provides some insights into the methodological approach of the Czech judiciary in the example of the Stock Spirits Group case involving intra-group services, including consulting services remunerated with a feature resembling a profit split method, charges made for support services and the recharge of services from third parties related to the refinancing of the loan. The key issue of dispute was the burden of proof on the taxpayer to establish that the services can be deducted for tax purposes, rather than the specific transfer pricing methodology.
Tax Sparing Credit Allowed for Dividends Received Through Omani Permanent Establishment
Authors: Dugar A. , Bhandari L.
Published: December 2023

This case note discusses the decision of the Delhi High Court in Principal Commissioner of Income Tax v. Krishak Bharati Co-op Ltd, which allowed, in accordance with the India–Oman Income Tax Treaty, the taxpayer a credit against its Indian income tax liability for Omani tax deemed to be paid on dividend income derived through a permanent establishment in Oman.
Luxembourg Investment Funds: A Status Report
Authors: Schaffner J. , Wantz J.
Published: December 2023

The authors, in this article, outline the types of investment funds available in Luxembourg, the specificities of each type, as well as the applicable tax regime, with a particular focus on tax treaty entitlement. They also address alternative investment structures and recent developments.
Proposal for Country-by-Country Reporting
Authors: Carreño F. , Sánchez-Briñas M.
Published: December 2023

After providing an overview of the regulation of transfer pricing in Spain, the authors analyse the proposed Spanish implementation of country-by-country reporting.
CFE Forum 2018: Summary Report
Authors: Gerzova L. , Popa O. , Gallo G.
Published: December 2023

In this note, the authors provide a summary of the presentations made at the CFE Forum 2018 held in Brussels on 19 April 2018.
The ECJ’s Interpretation of VAT Exemptions
Authors: Schulyok F.
Published: December 2023

Under the EU VAT Directive, only specific activities are exempt from VAT. Exemptions are exceptions to the general principle that all supplies of goods or services are subject to VAT, and the ECJ has reiterated on several occasions that exemptions must be interpreted strictly. In this article, the author discusses the ECJ’s approach to the exemption for sports in Canterbury Hockey, and concludes that the ECJ has actually interpreted that exemption very broadly.
The Rise of Cooperative Compliance Programmes and the Rule of Law: A Comparison between Belgium and Italy
Authors: Cannas F. , Wauters K.
Published: December 2023

Since the early 2000s, Cooperative Compliance Programmes (CCPs) have been introduced in various jurisdictions in an attempt to improve tax compliance by large corporate taxpayers. In this article, the authors examine two recent CCPs and conclude that, although the success of these CCPs cannot yet be evaluated, a higher level of legal certainty for taxpayers regarding, for example, the consequences of ending participation in the programme, is likely to enhance their attractiveness.
The Right To Deduct under EU VAT
Authors: Doesum A.J. van , Norden G.-J. van
Published: December 2023

In this article, the authors discuss the EU VAT law perspective on the right to deduct input VAT relating to taxed, exempt and/or non-taxable transactions. Their analysis starts from the hypothesis that, under EU VAT law, the right to deduct input VAT generally exists if taxable persons use goods and services for productive purposes. Several comments to the authors’ conference paper are contained in Peter Melz, "Activities outside the Scope of VAT and Exempt Activities" in International VAT Monitor 5 (2011).
Emergency Tax Measures in Response to the COVID-19 Pandemic
Authors: Rogers-Glabush J. , Morales T.
Published: December 2023

In response to the threat and impact of the COVID-19 virus, various European countries have enacted, or are in the process of enacting, tax measures to mitigate the economic fallout and provide a certain measure of security to their citizens. The following note, which will be updated as events unfold, summarizes the measures that have been introduced to date. Update 18 March 2020: Bosnia and Herzegovina, Greece, Luxembourg and Slovak Republic added.Update 20 March 2020: Ireland, Latvia, Lithuania, Portugal, Russia, Ukraine and United Kingdom added; Belgium, Bosnia and Herzegovina, Denmark, Romania and Spain expanded on.Update 24 March 2020: Cyprus, Estonia, European Union, Finland, Hungary, Iceland, Isle of Man, Italy, Kosovo, Malta, Monaco, Montenegro, Poland, Serbia, Slovenia, Turkey and Uzbekistan added; Bulgaria, Denmark, Germany, Latvia, Netherlands, Romania and Spain expanded on.Update 26 March 2020: Croatia, Gibraltar, Liechtenstein, Moldova, San Marino, Switzerland and EU institutions added; Belgium, Bulgaria, Czech Republic, France, Greece, Hungary, Ireland, Italy, Lithuania, Luxembourg, Netherlands, Norway, Poland, Russia, Slovak Republic and United Kingdom expanded on.Update 1 April 2020: Andorra added; Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, France, Greece, Iceland, Ireland, Isle of Man, Liechtenstein, Moldova, Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Slovenia, Turkey, Ukraine, United Kingdom and EU institutions expanded on.Update 8 April 2020: Guernsey and Jersey added; Austria, Belgium, Bulgaria, Cyprus, Denmark, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Moldova, Montenegro, Netherlands, Norway, Poland, Portugal, Russia, San Marino, Serbia, Slovenia, Spain, Turkey and EU Institutions expanded on.Update 30 April 2020: Belarus, North Macedonia and Sweden added; Austria, Belgium, Bosnia, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Guernsey, Hungary, Iceland, Ireland, Italy, Jersey, Kosovo, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Russia, San Marino, Serbia, Slovak Republic, Slovenia, Spain, Turkey, Ukraine and United Kingdom expanded on.
Corporate Income Tax Act Changes
Authors: Tzenova L.
Published: December 2023

This note summarizes recent amendments to the Bulgarian Corporate Income Tax Act that became effective 1 January 2015, which were designed to harmonize Bulgarian tax legislation with the requirements of EU law.
Two Different FATCA Model Intergovernmental Agreements: Which Is
Preferable?
Authors: Somare M. , Wöhrer V.
Published: December 2023

In this article, the authors describe the main
characteristics of the FATCA Model Intergovernmental Agreements (IGAs) and
compare the different frameworks for automatic exchange of information that
they establish.
The Web Tax and Taxation of the Sharing Economy: Challenges for Italy
Authors: Allena M.
Published: December 2023

In this note, the author discusses the complexities of Italy’s attempts to tax digital transactions, including the introduction of a web tax, as well as tax measures aimed at the sharing economy.
Taxes and Contributions on Cross-Border Employment Income – Before and During the COVID-19 Pandemic
Authors: Cejie K.
Published: December 2023

This article considers income taxes and social security contributions in Sweden as they relate to the cross-border income of individuals, with special emphasis on their levying and definitions, and in relation to the changes made to these taxes and contributions in response to the COVID-19 pandemic.
Corporate Loss Utilization through Aggressive Tax Planning
Authors: Musselli A. , Musselli A.
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 Italy.
Tax Regime Applicable to Consolidated Tax Groups in Spain: An Analysis in Light of EU Law
Authors: López Llopis E.
Published: December 2023

This article analyses the impact of the tax reform enacted by Law 27/2014 of 27 November 2014 on the definition of a tax consolidated group and the conditions for group membership, in particular the requirement to be resident in Spain. The author reviews the influence of key ECJ cases in this area on the Spanish tax reform, concluding that the reform was undertaken to ensure compliance of the tax consolidation regime with EU law.
Preparing for Brexit: A Note on the European Union (Withdrawal) Bill
Authors: Obuoforibo B.R.
Published: December 2023

This note addresses what the United Kingdom’s laws will look like after withdrawal from the European Union. In particular, the author summarizes the main points of the EU (Withdrawal) Bill, which sets out how EU law will operate in the United Kingdom after Brexit takes place.
Implementation of VAT in Afghanistan for Self-Reliance and Economic Stability
Authors: Hassan B.
Published: December 2023

Afghanistan has announced the implementation of a 10% VAT on goods and services from 22 December 2021, one year earlier than initially foreseen. In this article, the author discusses factors that might have influenced the decision for early VAT implementation in Afghanistan. He also outlines the basic features of the upcoming Afghan VAT system and the mechanism for enforcing VAT and taxable persons’ rights and obligations.
VAT Treatment of Non-Fungible Tokens
Authors: Coimbra M.L.
Published: December 2023

In this article, the author analyses the VAT treatment of non-fungible tokens (NFTs), which is an innovative service within the e-commerce industry. VAT faces different challenges when it comes to taxing e-commerce transactions, and in order to have certainty on the tax implications it is important first to understand the business itself. The sale of NFTs might trigger additional payments, such as gas fees, royalties and marketplaces fees, which is addressed by the author in this article.
The Commission's Proposal for a CCCTB Directive: Analysis and Comment
Authors: Cerioni L.
Published: December 2023

The author, in this article, examines the Commission's proposals for a Directive in respect of the Common Consolidated Corporate Tax Base (CCCTB) and the implications of the proposals for the CCCTB, corporate taxpayers and the Member States of the European Union.
Taxation of Private Equity Profits – ATO Issues Four Tax Determinations
Authors: Butler M. , Pengelly J. , Misiajlo S.
Published: December 2023

Following an unsuccessful attempt to recover tax on the AUD 1.58 billion profit realized by the Texas Pacific Group (TPG) from the 2009 float of the Myer Retailing Group, the Australian Tax Office issued on 1 December 2010 four Taxation Determinations targeting tax minimization structures commonly used by foreign investors, especially private equity funds. The authors consider the impact of the TDs (two of which have been finalized while another two remain in draft form) on management of private equity funds.
Mecsek-Gabona: The Final Step of the ECJ’s Doctrine on Reliance on EU Law for Abusive or Fraudulent Ends in the Context of Intra-Community Transactions
Authors: Wolf R.
Published: December 2023

The ECJ applied the principle of fraus omnia corrumpit (fraud corrupts everything) in the field of VAT for the first time in 2007. On that occasion, the ECJ decided that knowledge of fraud may have the effect that taxable persons lose the right to deduct input VAT. More recently, the ECJ declared in Mecsek-Gabona that knowledge of fraud may also have the effect that suppliers of goods lose the right to zero rate cross-border transactions. In this article, the author places the ECJ’s decision in Mecsek-Gabona in a broader context.
VAT in Nigeria : theory and practice
Authors: Aguolu O.
Published: December 2023

In this article, the author discusses the Nigerian VAT system, which
was introduced 15 years ago. He explains that there is quite a difference
between the functioning of the VAT system in theory and the actual functioning
of VAT in Nigeria. The author highlights the flaws and ambiguities in the
Nigerian legal system and the weaknesses of the implementation
process.
Seeking Certainty – Advance Ruling Practices
Authors: Liu J.
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.
Bandwidth Capacity – Taxability and Controversy
Authors: Susarla K. , Natarajan Praveen
Published: December 2023

With the advent of globalization, transfer of data has become one of the most crucial factors in the successful running of governments and companies alike. With the increasing need for transfer of data, telecommunications operators across the globe are under acute pressure to provide high speed secure data flow with minimal interruptions. The capacity of a device to transmit data, including the speed of such transmissions, is technically understood as “bandwidth”. The taxability of payments made for the transfer or use of bandwidth capacity has been the subject of debate in a series of income tax disputes in India.
Enhanced Transfer Pricing Documentation Requirements for Transactions Involving Non-Cooperative Tax Jurisdictions
Authors: Bärsch S-E. , Engelen C.
Published: December 2023

The Anti-Tax Havens Act contains a number of defensive measures regarding business transactions involving uncooperative states. As of 1 January 2022, among other requirements, the taxpayer has to carry out certain enhanced transfer pricing documentation conditions in such business transactions. Specifically, this means transfer pricing documentation must be submitted at a particularly early stage and must also include transactions with third parties.
Enhanced Efforts against Perceived No-Tax Corporations
Authors: Laursen A.N.
Published: December 2023

The author considers a recently enacted Danish law that imposes restrictions on the tax loss carry-forward regime; a mandatory accountant’s certificate for certain companies; penalties for insufficient transfer pricing documentation; joint and several liabilities for certain corporate income taxes and withholding taxes; transparency as regards corporate tax payments; and amendments to domestic principles for the allocation of income to a permanent establishment.
The 2008 update of the OECD Model : an introduction
Authors: Arnold B.J.
Published: December 2023

This article gives an introduction to the changes made in the 2008
Update of the OECD Model and Commentaries. After introductory remarks, the
article discusses some of the changes pertaining to e.g. Art. 4 (Residence),
the alternative services permanent establishment rule (Art. 5), the attribution
of profits to PEs (Art. 7), the treatment of real estate investment trusts,
Art. 12 (Royalties), Art. 24 (Non-discrimination) and mandatory binding
arbitration (Art. 25(5)). The article concludes that, on any measure, the
changes represent a significant development in the OECD Model.
Cost-Effective Approach To Manage Country-by-Country Reporting Compliance
Authors: Dorey M. , Sala M.
Published: December 2023

While there is significant uncertainty surrounding the implementation of country-by-country reporting in the United States, US multinationals should begin to address this now, in light of global developments on the issue. The authors provide a framework for cost-effective resource deployment to meet emerging global requirements for country-by-country reporting.
The Apportionment Formula under the European Proposal for a Common Consolidated Corporate Tax Base
Authors: Sánchez Sánchez A.
Published: December 2023

In this article, the author discusses the sharing mechanism suggested in the Common Consolidated Corporate Tax Base proposal, which employs three equally-weighted factors: assets, labour and sales. The author argues that although there is no doubt that the transfer pricing regime should be replaced by a more effective system, designing an adequate method requires taking into consideration the unique characteristics of the European Union and the experience with formulary apportionment in other states.
Amendments to the Italian Controlled Foreign Company Rules: A Witch-Hunt?
Authors: Garufi Sebastiano
Published: December 2023

This note critically reviews the recent amendments to the Italian controlled foreign company legislation, the new enlarged scope of which goes well beyond traditional low-tax jurisdictions. Although the new provisions acknowledge the case law of the European Court of Justice, there are many issues that need to be clarified, as they risk curtailing the growth of Italian groups.
Modernization of the Luxembourg Partnership: Luxembourg’s Completion of Its Arsenal of Investment Vehicles
Authors: Scardoni G. , Baranger S.
Published: December 2023

The authors, in this note, report on a Bill that, inter alia, modernizes the Luxembourg partnership regime and introduces a new form of partnership in Luxembourg, i.e. a Lux LP without legal personality, which can be used by fund and private equity industries as a flexible and efficient alternative to offshore limited partnerships.
E-Commerce VAT Concerns
Authors: Bashandeh R.
Published: December 2023

In this article, the author discusses the new e-commerce rules in the field of VAT, as a consequence of the entry into force on 1 July 2021 of the VAT Package, which includes Council Directive (EU) 2017/2455 and Council Directive (EU) 2019/1995. He welcomes the new provisions on e-commerce, but highlights that VAT is still threatened by new challenges caused by globalization and by existing realities that have not yet been sufficiently tackled. The author adopts a practical approach in this article, which aims to highlight some of his key concerns.
The Irish Taxpayer’s Right to a Private Appeal Hearing
Authors: O'Mahony M.
Published: December 2023

This article looks at the law in Ireland regarding the hearing of tax appeals in public and in private at first instance.
Should Low-Income Countries Sign Tax Treaties?
Authors: Li K.
Published: December 2023

This article examines arguments for and against signing income tax treaties by low-income countries. It submits that low-income countries should formalize tax treaty policies to guide their decision making. It identifies circumstances where the case for signing tax treaties is comparatively easier and circumstances where the case is comparatively more difficult.
Final Losses under EU Tax Law: Proposal for a Better Approach
Authors: Pezzella D.
Published: December 2023

The analysis in this article demonstrates the significant role that the need to preserve a balanced allocation of the power to tax justification plays vis-à-vis the other two justifications taken into account in Marks & Spencer (Case C-446/03): the risk of double use of losses and the risk of tax avoidance. As a consequence, there is a need to identify a narrower concept of final losses that is consistent with the balanced allocation of taxing rights.
Tax Codes of Conduct: Fit for Purpose?
Authors: Enden E. van der , Baisalbayeva K. , Bronżewska K.
Published: December 2023

In this article, the authors consider corporate governance and Tax Codes of Conduct in general, the specific tax perspective of corporate governance and the various roles that such instruments may play. The authors also examine particular country practices in this area.
The Impact of the Reduced Sales Tax Burden Policy on Export-Oriented Sectors
Authors: Hassan B.
Published: December 2023

On 31 December 2011, the Federal Board of Revenue introduced a tax policy to reduce the sales tax burden on five export-oriented sectors in Pakistan. This policy remained applicable until 30 June 2019. In this article, the author addresses the question of whether the reduced sales tax burden policy has had a significantly large impact on the exports of the five sectors during the period under study. The author also discusses the consequences of the reduced tax burden policy on Pakistan’s sales tax (VAT) system and economy.
Ruling on Exemption under Section 47(iv) of the Income Tax Act (1961) Regarding a Share Buy-Back from a Parent Company by the Parent’s Wholly Owned Subsidiary
Authors: Jhabakh P. Raj Kumar
Published: December 2023

This article analyses the recent ruling of the Authority for Advance Rulings that denied the exemption available under section 47(iv) of the Indian Income Tax Act (1961) on the buy-back of the shares of a wholly owned subsidiary held by the parent company by the wholly owned subsidiary itself.
BEPS Actions 2, 3 and 4 and the Fundamental Freedoms: Is There a Way Out?
Authors: Benéitez Régil P.
Published: December 2023

In this article, the author discusses the extent to which the measures proposed in respect of BEPS Action 2 on hybrid mismatches, Action 3 on CFC provisions and Action 4 on interest and other financial payments are compatible with the fundamental freedoms.
US Taxation of Foreign Currency Derivatives: 30 Years of Uncertainty
Authors: Hammer V.
Published: December 2023

Foreign currency contracts were required to be marked to market in the United States in 1982, but since then practitioners have argued about the scope of the rule. Specifically, does the rule apply to foreign currency forwards only or to options, swaps and other derivatives as well?
A Different Take on Transfer Pricing in Asia
Authors: Sim S.T.Y.
Published: December 2023

In this article, the author hopes to foster critical thinking by setting out the contrarian view that the OECD’s BEPS project must adapt to adequately address the needs and challenges of international tax administration in developing countries in Asia. He examines the BEPS proposals in terms of fine-tuning the “traditional architecture for international taxation”, especially with regard to the arm’s length approach to transfer pricing, and considers the difficulties of implementing OECD norms across the Asian continent, which is largely non-OECD and embraces a culturally different business environment.
Cross-Border Succession in Europe: Is the Elimination of Double Taxation Guaranteed?
Authors: Maherzi D.
Published: December 2023

The taxation of cross-border succession often leads to double taxation for European taxpayers. The limitation of conventional instruments in the field of inheritance taxation within the European area raises continuing questions about the nature and content of double taxation. The solutions provided, in particular by domestic law, do not seem to be sufficient.
Introduction of APA Guidance
Authors: Stroykova S. , Lemetyuynen I. , Slavinskaya N.
Published: December 2023

The Russian tax authorities have issued a Letter that provides detailed guidance on the APA programme, which was introduced as of 2012. Although the Letter is non-binding, the guidance it provides will be welcomed by taxpayers.
The Anti-Avoidance Regime and the Shome Committee Recommendations
Authors: Zobalia H. , Devani J.
Published: December 2023

The introduction of general anti-avoidance rules in India has given rise to a great deal of anxiety. This article reviews the current anti-avoidance scenario in India before analysing the issues and disputes that have arisen over the years. It concludes with the authors analysing the moves to introduce anti-avoidance rules and the recommendations contained in the Shome Committee report.
Intellectual Property Migration: Analysis from an Indian Transfer Pricing Perspective
Authors: Bilaney S.K.
Published: December 2023

The author considers several issues central to the migration of intellectual property to an associated enterprise in a low-tax or tax-privileged jurisdiction, including valuation methods and the taxation of any resulting gains. Challenges to such migration under the Direct Taxes Code Bill 2010 are also addressed.
Proposed 3% Digital Services Tax
Authors: Horzen F. van , Esdonk A. van
Published: December 2023

In this article, the authors question the tenability of the temporary Digital Services Tax, as proposed by the European Commission in developing a tax system for the digital market.
New CbC Reporting Regulations in the United Arab Emirates
Authors: Hassan B.
Published: December 2023

September 2019 and February 2020, the author published articles in the International Transfer Pricing Journal on CbC reporting regulations in the United Arab Emirates (UAE). As the UAE introduced new CbC reporting regulations for UAE-headquartered multinational enterprise groups on 4 June 2020, this article is structured to provide the latest information concerning CbC reporting regulations in the UAE.
Australia’s Inaction on Mandatory Disclosure Rules: Can You Have Too Many Disclosure Regimes?
Authors: Black C.M.
Published: December 2023

Australia has not enacted Mandatory Disclosure Rules, either in the form recommended in the Final Report on Action 12 of the OECD/G20 Base Erosion and Profit Shifting project or the OECD’s Model Mandatory Disclosure Rules. This article explores some potential explanations for Australia’s inaction.
India and Its Tryst with Subjective Rules: An Analysis of the Recent Place of Effective Management Guidance
Authors: Govind S.P.
Published: December 2023

This article examines India’s recent introduction of the subjective place of effective management test to determine Indian tax residence. The author provides an overview of international corporate tax residence rules, and Indian corporate tax residence rules before and after the adoption of the place of effective management test. The article addresses the Indian Central Board of Direct Taxes’ January 2017 Circular, which is intended to elucidate application of the place of effective management test in India, and critiques its effectiveness in providing clarity and certainty to taxpayers. [Ed. Note that this article was finalized for publication before the OECD released the reservation and notification statement for India to the Multilateral Convention (2016) on 7 June 2017.]
Interest Limitation Rules: At a Crossroads between National Sovereignty and Harmonization
Authors: Hillmann L. , Hoehl R.
Published: December 2023

This article analyses BEPS Action 4 and article 4 of the EU Anti-Tax Avoidance Directive (2016/1164), determines the country-specific adjustments necessary as a result of article 4 of that Directive and examines the future development of interest limitation rules in the context of national sovereignty and harmonization.
How to Deal with Risks in the Context of Two-Sided IP Valuations after BEPS?
Authors: Riedl A. , Schwinger K.
Published: December 2023

The authors analyse the impact of BEPS Actions 8-10 (aligning transfer pricing outcomes with value creation) on the remuneration of intellectual property (IP) for MNEs. They especially analyse the OECD’s approach of bilateral IP valuations and how to handle risks when conducting such a valuation.
The Interaction between VAT and the Digital Services Tax Regime in Market Jurisdictions: Is the DST Filling the Gap Regarding the Taxation of the Digital Economy?
Authors: Zegarra B.R.
Published: December 2023

The Digital Service Tax (DST) aims to tax certain digital businesses within market jurisdictions, which, traditionally, collect revenue through consumption taxes. This article provides a pragmatic analysis of the levies applicable to digitalized businesses in the European Union arising from the interaction between the DST and value added tax (VAT). In doing so, it explores the legal elements of these levies and determines, from a practical perspective, which digitalized business models fall within their scope.
Cooperation with Non-Cooperative Jurisdictions
Authors: Adriaans S. , van Hulten L , Korving J.
Published: December 2023

As of December 2017, the European Union has a common list of non-cooperative jurisdictions for tax purposes (the “EU List”). The EU List functions as a tool to improve tax good governance globally and to promote the EU standards and values vis-à-vis third countries. This article examines the development of the EU List and the role it plays in the various Member States in terms of their (future) national legislation, including national legislative defensive tax measures taken by the Member States in respect of the listed non-cooperative jurisdictions.
German Rules on Loss Forfeiture Ruled Partly Unconstitutional
Authors: Weiss M. , Bruhl M.
Published: December 2023

This note describes a recent decision of the German Constitutional Court regarding the German rules on loss forfeiture applicable to corporations and its consequences for the German direct tax system. The decision has upended the entire German regime for loss forfeitures since a vital aspect of the rules governing loss utilization has been declared unconstitutional. The German legislature must amend the rules, according to the decision, by the end of 2018 or they will be invalid from the date of their introduction in 2008.
The Zinc Case – Burden of Proof and Business Restructurings in the Netherlands
Authors: Dam H. van , Tom W.J. , Braken F.
Published: December 2023

This article presents an overview of the decision in the Zinc case. It will discuss the three subjects examined in this case: business restructurings, the Dutch transfer pricing documentation requirements and (their relation with) the burden of proof.
Finance Act 2017 and Finance Bill 2017-19
Authors: Roxburgh D.S.
Published: December 2023

This note covers the Finance Act 2017 and Finance Bill 2017-19. It deals mainly with the provisions therein that detail changes in tax principles, tax rates and allowances, matters of particular significance for businesses and companies and tax presence in the United Kingdom.
Personal Income Tax (Amendment) Act: Will the Government Achieve Its Objectives?
Authors: Aguolu O.
Published: December 2023

In this article, the author assesses the extent to which, for Nigeria, the recently enacted Personal Income Tax (Amendment) Act realizes the desired objectives. Based on a comparison of VAT tax revenues with company and personal income tax revenues, the indications are that the government will not achieve its goals.
Opinion Statement FC 1/2018 on the European Commission Proposal of 21 March 2018 for a Council Directive on the Common System of a Digital Services Tax on Revenues Resulting from the Provision of Certain Digital Services
Authors: CFE Fiscal Committee
Published: December 2023

In this opinion statement, submitted to the European institutions in May 2018, the CFE discusses the European Commission proposal for a digital services tax on revenue from certain digital activities in the EU Single Market.
The French Anti-Abuse Rule Implementing the EU Parent-Subsidiary Directive (90/435) is Contrary to EU Law
Authors: Romanelli L.
Published: December 2023

This note examines the ECJ’s decision in Eqiom SAS (Case C-6/16), wherein the Court decided that the anti-abuse provision in article 119b(3) of the French General Tax Code is not compatible with EU law.
Transfer Pricing in the Logistics Sector
Authors: Kishore Bilaney S.
Published: December 2023

The author analyses various business models in the logistics sector,
with a special focus on freight-forwarding business and the pricing policy that
is typically adopted under each model. Also, necessary guidance is provided on
plausible transfer pricing methodologies that may be considered under different
models.
Transfer Pricing Documentation Requirements
Authors: Riedl A. , Steinbach T.
Published: December 2023

The authors compare the documentation standard arising from the BEPS Action 13 Final Report with the documentation standard that was introduced in China under Bulletin 42. The differences between the two standards are presented and the possible intentions of Bulletin 42 are discussed in detail.
Asian tax authorities firmly grasp transfer pricing : is China leading
the way?
Authors: Coronado L. , Solgaard J. , Gommers E.
Published: December 2023

The authors provide an overview on the current developments and recent
introduction of detailed transfer pricing regulations in China and other Asian
countries (Malaysia, Singapore, South Korea).
International Practices of Financial VAT
Authors: López-Laborda J. , Peña G.
Published: December 2023

The question of what constitutes the most appropriate VAT treatment for financial services has not yet been answered. In this article, the authors identify and evaluate the theoretical alternatives and current international practices in this area, and provide, in their view, the most promising method to tax financial services.
Recent Developments in the Legislative and Regulatory Arena
Authors: Hammer V.
Published: December 2023

The author considers numerous recent developments in the United States, including court decisions and IRS revenue rulings, notices, field advice and regulations.
The OECD International Compliance Assurance Programme: Just a New Multilateral and Cooperative Model of Tax Control for Multinational Enterprises?
Authors: Calderon J.M.
Published: December 2023

This article examines the OECD’s International Compliance Assurance Programme and considers whether it constitutes just a new model for tax control in relation to multinational enterprises or whether it could also be considered the basis of an unprecedented dispute-prevention mechanism that can reduce the level of transfer pricing controversies and stabilize the post-BEPS framework.
Council
Authors: Xygka A.
Published: December 2023

This overview highlights the Council’s (i) publication of European Data Protection Supervisor’s opinion on FASTER and (ii) ECOFIN’s commitment to strengthening the coordination of fiscal and monetary policy.
International
Tax Planning in Brazil: What to Expect Following Recent Case Law
Authors: Maito da Silveira R. , Freitas de Moraes e Castro L.
Published: December 2023

This article examines three selected cases relating to international
tax planning in Brazil, i.e. Volvo, Marcopolo and “Eagle 2”, both from the
perspective of the Brazilian Federal Revenue Service and with regard to the
possible legal arguments involved in each case in favour of the
taxpayer.
A Comparison of Bulgarian Accounting and Tax Depreciation Methods with Select EU Member States
Authors: Ranchev G.
Published: December 2023

This note, after surveying the provisions of select EU Member States, outlines the specifics of tax depreciation rates for different kinds of assets in Bulgaria. Further, it compares tax depreciation to the depreciation schemes applied by companies following their own accounting policies. Special attention in the analysis is given to the effect of having differing depreciation schemes for tax and accounting purposes.
Foreign Tax Credit and Global Investment Structures
Authors: Lin J. , Xu J.
Published: December 2023

This article examines the detailed foreign tax credit rules issued by the Chinese State Administration of Taxation, which are likely to have significant impact on the global investment structures of Chinese enterprises. Tax planning opportunities under these new rules are also highlighted with regard to the legal form of investments, holding structures and separation of functions.
Taxing the Consumption of Owner-Occupied Residential Property
Authors: Peacock C.
Published: December 2023

From the perspective that VAT/GST is a tax on final consumption, the tax treatment of owner-occupied residential property is problematic. In this article, the author describes the problem and presents one of the solutions.
Reasonableness and Diligence of Transactions Performed by Non-Existent Traders: Asymmetries between the Italian and the European Case Law
Authors: Ferrari M. , Lanotte G.
Published: December 2023

The topic of transactions performed by non-existent trader arises quite often in case law, although it is not regulated by the VAT Directive. In this article, the authors analyse the elements that according to the ECJ are relevant in order to identify these kinds of transactions and to compare those elements with the domestic case law. According to the authors, the Italian Supreme Court has adopted, over the years, decisions which are not in line with those of European case law, making the operators’ role difficult.
The Impossible Proof of Intra-Community Supplies of Goods
Authors: Amand C.
Published: December 2023

According to the VAT Directive, taxable persons performing intra-Community supplies of goods can apply the zero VAT rate to such supplies provided that they can give evidence of the transport or dispatch of the goods. In this article, the author examines what documentation is requested by tax authorities in order to grant the zero VAT rate, through the analysis of national legislation and case law from national courts and the ECJ. Furthermore, the author illustrates the fact that the collection of such evidence by taxable persons can be a highly burdensome task that might not necessarily be in line with businesses' real processes.
Recent Decision of the Spanish Supreme Court on the Elimination of Double Taxation under the Spanish Corporate Income Tax Act
Authors: Millán L.
Published: December 2023

In this note, the author comments on the recent Supreme Court decision in Case 7910/2020 (14 November 2022), which addresses the elimination of double taxation under the Spanish Corporate Income Tax Law. Specifically, the case, which concerns the interpretation of the tax credit method for the elimination of double taxation, addresses (i) the determination of the deduction base and how expenses are computed in determining net income and (ii) the deductibility of foreign tax expenses from the tax base. The author analyses the application of the Supreme Court thesis to the exemption method, concluding that even though the decision clarifies the treatment of foreign taxes in the context of the rules for the elimination of double taxation, it is not clear whether this decision supports the deduction of foreign tax expenses in the context of the exemption method.
New Developments in the “Fixed Establishment” Concept for VAT Purposes
Authors: Leur M. van de
Published: December 2023

In this column, the author considers the new developments in the “Fixed Establishment” concept for European VAT purposes.
Recent Case Law: Indirect Transfer of Interest and Controlling Stake in an Indian Company Held Taxable
Authors: Jhabakh P.R.K.
Published: December 2023

This article analyses a recent ruling of the Authority for Advance Ruling (AAR) in the case of Groupe Industrial Marcel Dassault and Murieux Alliance
AAR 846 and 847 (2009).

wherein the AAR held that, despite a transaction being legally valid but having the purpose to create a legal smokescreen to avoid the payment of tax, the legal effect of such transaction in the context of the taxing statute must be considered in determining the taxability of that transaction.