bluuebunny/crossref_metadata_2025 huggingface dataset:
Green Paper on Convergence in the Field of Corporate Taxation
Authors: Gaoua N. , Perdelwitz A.
Published: December 2023

In this note, the authors provide an overview of the key elements of the Green Paper on German-French cooperation regarding convergence in the field of corporate taxation and comment on recommended measures in both countries.
Profit for Good Causes: Drafting a Policy Framework and Tax Incentives for Impact Investing – Part II
Authors: Bakker A.J.
Published: December 2023

In Part I, the author provided an overview of the size of the impact investing sector, the players in the market, market size, challenges and opportunities. Part II of this article addresses the various (tax) incentives in a number of countries with respect to impact investing, and will provide an overview of how governments can support this sector.
(Mis)guided by the Value Creation Principle – Can New Concepts Solve Old Problems?
Authors: Bal A.
Published: December 2023

In this article, the author provides a critical evaluation of the current OECD and EU attempts to tax the digital economy, focusing on the concept of value creation and the role of users and data in creating value.
Introduction of TP Penalties
Authors: See J.C.
Published: December 2023

The cost of non-compliance for transfer pricing (TP) in Singapore has recently increased tenfold, and maybe more, under the newly introduced formal legislation mandating the preparation of contemporaneous transfer pricing documentation. The changes mark the beginning of a formal, legislation-based transfer pricing regime, and is part of the increasing emphasis the Singapore tax authorities place on transfer pricing compliance.
Casenote – Federal Court Applies Anti-Avoidance Rules to Franking Credits Scheme
Authors: Butler M. , Pengelly J.
Published: December 2023

The recent Australian decision in Mills v. Commissioner of Taxation is examined. In this case, the Federal Court applied the anti-avoidance rules to the franking credits of certain hybrid financial instruments.
Seeking Certainty – Advance Ruling Practices
Authors: Whatley E. , Mizukami E. , Weitzman H.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.
Cross-Border Leasing
Authors: Thomas E.
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.
Consultation on Draft Model for APA Programme
Authors: Brodbeck J.
Published: December 2023

After years in the making, the SARS finally published draft legislation and a proposed model for establishing an APA programme at the end of 2021. This article sets out the background to SARS’ decision to introduce an APA programme at this point in time and analyses the main features of the proposed APA programme, including the proposed process model, time frames and costs.
Venezuelan Tax Courts Released Their First-Ever Transfer Pricing Decisions
Authors: D’Arrigo G. C.M.
Published: December 2023

This article discusses several court cases relating to transfer pricing issues in Venezuela.
Case Note: Credit Card Payment Infrastructure and Network Constitutes a Permanent Establishment in India
Authors: Dugar A. , Bhandari L. , Jain D. (Dhruvi)
Published: December 2023

This case note reviews the ruling issued by the Authority for Advance Rulings to MasterCard Asia Pacific Pte Ltd, which decided that MasterCard Asia Pacific’s use of the network and infrastructure for processing card payment transactions for customers in India constituted a fixed place permanent establishment, a services permanent establishment and a dependent agent permanent establishment of Mastercard Asia Pacific in India, under article 5 of the India-Singapore double tax treaty.
Commission
Authors: Valério C.
Published: December 2023

This overview highlights the Commission’s (i) adoption of DAC8 to cover cryptoassets; (ii) clarification on mutual assistance under the Recovery Directive for claims under EUR 1,500; (iii) report evaluating Directives on Administrative Cooperation; (iv) approval of Swedish tax scheme aimed at promoting the usage of sustainable biofuels; and (v) approval of the prolongation of the Swedish scheme to refund taxes and social security contributions to employers of seafarers.
Qatar and International Taxation: Part II – The Income Tax Law and the Qatar Financial Centre Tax Regulations
Authors: Scalia R.
Published: December 2023

In Part II of this article, the author focuses on the Qatari income tax system with specific emphasis on the Income Tax Law (ITL) and the QFC Tax Regulations (QFC-TR).
Impact of BEPS Actions on Costa Rican Transfer Pricing Regime
Authors: Castro S.
Published: December 2023

The author considers the current effects on the Costa Rican transfer pricing regime of the international adoption of the recommendations of the BEPS Actions related to transfer pricing, including Action 13 (regarding transfer documentation) and Actions 8, 9 and 10 (which deal with specific topics and have modified several chapters of the OECD Guidelines). First, the background of the BEPS Actions and the transfer pricing regime are described, followed by an assessment of the effects of each of the Actions.
Must EU Merger Directive Benefits Be Made Available where EEA States Are Involved?
Authors: Helminen M.
Published: December 2023

The author, in this article, explores a Finnish case, which has been referred to the ECJ, that addresses whether or not, in light of the fundamental freedoms enshrined in the European Economic Area Agreement, the benefits of the EU Merger Directive should be extended to European Economic Area States.
Counteracting Tax Avoidance Based on Financial Techniques: Do Thin Capitalization and Anti-Hybrid Rules Really Deal with the Underlying Problem?
Authors: Ruiz Colmenares M.
Published: December 2023

The author delves into the reasons that explain why financing has become a very potent tax planning tool and critically assesses whether the measures adopted (for example, thin capitalization and anti-hybrid rules) have been effective in counteracting tax avoidance practices based on financial techniques. The author raises questions with regard to whether these measures only tackle the symptoms rather than the principal underlying problem.
State Aid and Tax Lease Regimes in the Shipbuilding Industry:Lessons
Learned from a Spanish Case
Authors: Villar Ezcurra M.
Published: December 2023

This article examines the recent Commission decision on Spanish State
aid in relation to tax lease arrangements as a means of exploring how negative
legal and economic consequences can be avoided and how the current lack of
certainty can be resolved. Further, the author comments on the Spanish tax
regime from the perspective of the challenges of 2020 and identifies certain
concerns in respect of the current EU State aid regulation and
guidelines.
The Advance Pricing Agreement Regime
Authors: Hoang T.D. , Tran D.B.
Published: December 2023

This article discusses the salient points of the draft circular issued
by the Ministry of Finance on the proposed advance pricing agreement regime in
Vietnam. Insight is also provided into the rational and imperative need for the
regime.
From JH to JH: 75 Years of the Bulletin for International Taxation (Or Is It 81 Years?)
Authors: Slagter J.M.
Published: December 2023

In this Preface, on the occasion of the 75th anniversary of the Bulletin for International Taxation, Jan Maarten Slagter provides some historical context for the founding of IBFD’s flagship journal and expresses his gratitude for all those who have contributed to its ongoing success.
Tax Controversies and Dispute Resolution under Tax Treaties: Insights from the Arbitration Sphere
Authors: Snodgrass E.
Published: December 2023

This article focuses on recent initiatives to embed arbitration as a mechanism for resolving tax controversies under income tax treaties. Drawing on the author’s experience as an arbitration lawyer, the article considers developments in the frameworks for arbitration under income tax treaties, including (i) the OECD Model, (ii) the EU Arbitration Convention and (iii) the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the BEPS Multilateral Instrument). These frameworks are compared to existing (non-tax specific) arbitration frameworks, in order to evaluate the efficacy of arbitration as a mechanism for resolving tax controversies and identify where some lessons may be learned as the tax arbitration process is further developed and refined.
Tax Incentives: Forms, Merits and Demerits – The Asian Experience
Authors: Shome P.
Published: December 2023

In this article, the author provides the arguments for and against the use of specific tax incentives such as tax holidays, reduced tax rates and investment tax allowances in developing countries. The experience of Asian countries in using tax incentives to attract foreign investment is also described. In conclusion, incentives have significant negative economic effects; a simple and well administered tax system with an overall low tax rate would be more effective to attract investors.
OECD’s Action Plan on Tax Base Erosion and Profit Shifting: Part 2 – A Critique of Some Priority OECD Actions from an African Perspective – Addressing Excessive Interest Deductions, Treaty Abuse and the Avoidance of the Status of a Permanent Establishment
Authors: Oguttu A.W.
Published: December 2023

The author, in Part 2 of this article, continues her examination of the implications of the OECD’s Action Plan on Base Erosion and Profit Shifting from an African perspective, with particular emphasis on excessive interest deductions, treaty abuse and the avoidance of the status of a permanent establishment.
South African Supreme Court of Appeal Confirms Application of Protocol to a Tax Treaty to a Period before Signature Date
Authors: Mazansky E.
Published: December 2023

The author, in this article, considers the implications of the recent Supreme Court of Appeal of South Africa decision in Krok and Another (2015), in which the Court confirmed the retroactive application of a protocol to a tax treaty to matters that arose before the protocol was concluded.
Dispute Resolution Mechanisms in Tax Administration in Asia-Pacific
Authors: Araki S.
Published: December 2023

Dispute resolution through administrative review is one of the fundamental infrastructures for tax administration from the standpoint of the protection of taxpayers’ rights and efficient tax administration. Whilst administrative review systems in tax administration in Asia-Pacific vary, many countries have been working towards fairer and more efficient systems.
Taxation Changes in 2012
Authors: Waidyasekera D.D.M.
Published: December 2023

Major changes to Sri Lanka's tax system took place in 2011, following the implementation of the 2011 Budget proposals. Further changes to the tax system will take place in 2012, as elucidated in this article.
Opinion Statement of the CFE on Persons Liable for Payment of VAT to the Tax Authorities regarding Operations Taking Place in One Member State
Authors: Confédération Fiscale Européenne
Published: December 2023

This is an Opinion Statement prepared by the CFE Fiscal Committee. The CFE is the leading European association of the tax profession with 33 national tax advisory organisations representing over 180,000 tax advisers.
Domestic Excise Duties and the “Specific Purposes” Test: A Quasi-Harmonization Tale
Authors: Ferreira A.
Published: December 2023

Similar to the VAT Directive (2006/112), the Excise Directive (2008/118) aims to harmonize excise duties on alcohol, tobacco and energy products within the European Union. For this reason, domestic excise duties on such goods are prohibited unless they pursue “specific purposes”. This article explores the parameters established by the ECJ in assessing the compatibility of domestic excise duties with EU law from the standpoint of the “specific purposes” concept as enshrined in the Excise Directive.
Advance Ruling Explores Meaning of “Control” for Transfer Pricing Purposes
Authors: See J.C. , Chua K.P.
Published: December 2023

The arm’s length principle governing transactions between related parties has been enacted in Singapore income tax law for more than a decade, but it is only in a recent private ruling that the issue of whether two parties are related was examined. This article explores the meaning of “control”, a term crucial in determining whether two parties are related from a Singapore income tax law perspective.
Foreword: International Tax Policy in a Disruptive Environment
Authors: Christians A. , Schön W. , Shay S.E.
Published: December 2023

In this foreword to International Tax Policy in a Disruptive Environment: A Special Issue, the authors provide an overview of the two-day interdisciplinary conference that took place in Munich on 14-15 December 2017, and offer a synopsis of the articles in this special edition of the Bulletin for International Taxation.
What Do We Have in Common? What Can We Learn from Each Other? A Comparative Study of US and Dutch REITs
Authors: Taylor W.B. , Vermeulen H.
Published: December 2023

In this article, the authors explain and compare the rules that apply to real estate investment trusts (REITs) in the Netherlands and the United States. The comparison provides a framework for analysing whose rules are more effective in achieving the policies that led to the enactment of the REIT regimes.
Sharing Economy: Challenges and Opportunities for Chinese Individual Income Taxation
Authors: Lan S.
Published: December 2023

This point in time marks a great change in our economic system. We have witnessed the emergence of the sharing economy and it has been growing rapidly while disrupting well-established industries along the way. China, the world's second largest economy and a unique consumer market, constitutes an interesting example of the implications of the sharing economy to the society. Among others, the sharing economy poses challenges to taxation. Using the examples of ride-hailing (“Didi Chuxing”) and property leasing (“Airbnb”) business models, this article analyses the challenges posed by the sharing economy particularly to individual income taxation, from both substantive law and tax administration perspectives. Along with an analysis of the status quo, this work investigates the policy responses of other countries and provides proposed solutions to the underlying problems in China. The article also elaborates on how tax authorities can work with the sharing economy platforms and advanced technologies to jointly benefit Chinese society, in particular with regard to tax compliance.
Transfer Pricing:
Review and Future Prospects
Authors: Díaz Tong E. , Castro Jurado S.
Published: December 2023

This article presents a review of what has been the Colombian transfer
pricing regime, from its entry into force in 2004 to the present, highlighting
important legal and technical issues. Topics considered include the key aspects
of Colombian rules and the future prospects for transfer pricing in
Colombia.
Amended Thin Capitalization Rules
Authors: Lasiński-Sulecki K.
Published: December 2023

Major changes to the corporate income tax law were introduced on 1 January 2015. These changes, which are generally aimed at reducing possibilities of tax avoidance, include thin capitalization rules. The new rules are more complex and restrictive than those that were in force until the end of 2014.
Taxation of Fees for Technical Services: An Analysis of Indian Tax Treaties and Their Journey Through the Courts
Authors: Pal J.
Published: December 2023

This article presents an analysis of the definitions of “fees for technical services” in India’s domestic tax law and double tax treaties. The author undertakes a comprehensive review of Indian case law interpreting the provisions of the Income Tax Act and tax treaties that deal with the taxation of income derived from the supply of technical services by non-residents. Using this analysis, the author proposes measures to fill the lacunae in the current OECD and UN model tax treaties, and thereby curb the tax leakage presently suffered by source states which import technical services.
The judicial system of Canada regarding tax disputes
Authors: Rogers-Glabush J.
Published: December 2023

The author, in this article, provides an overview of the judicial
system in Canada, and then describes the various levels available for resolving
tax disputes, including the administrative phase, the Tax Court of Canada, the
Federal Court of Appeal and the Supreme Court of Canada. In this respect, the
author examines the procedures applicable at each level.
French Tax Audits and Criminal Tax Cases
Authors: Viu T.
Published: December 2023

In this note, the author discusses the Law of 23 October 2018 Related to the Fight Against Fraud, which, inter alia, includes a measure to abolish the legal barrier between the French tax administration and the public prosecutor’s department.
Ratification of the OECD Multilateral Instrument by Romania
Authors: Radocea I.
Published: December 2023

Following the signing of the Multilateral Instrument (MLI) at the initial signing ceremony on 7 June 2017 in Paris, Romania deposited its instrument of ratification with the OECD on 28 February 2022, thus completing its MLI ratification process. This article provides an overview of the options and reservations included by Romania and, accordingly, the areas that require further analysis once the MLI enters into effect.
The EU Cooperative Compliance Programme for Large Multinational Enterprises: A Promising Mechanism for Tax Certainty in the Uncertain Tax World Following the OECD/G20 Base Erosion and Profit Shifting Initiative?
Authors: Calderón J.M. , Quintas Seara A.
Published: December 2023

This article examines the EU Cooperative Compliance Programme for Large Multinational Enterprises (European Trust and Cooperation Approach) and discusses its potential and that of the OECD’s International Compliance Assurance Programme as mechanisms that could provide (a minimum level of) tax certainty following the OECD/G20 Base Erosion and Profit Shifting initiative.
The China-Pakistan Avoidance of Double Taxation Agreement and the China-Pakistan Economic Corridor
Authors: Ahmed M.A. , Li N. , Mellor P.
Published: December 2023

In this article, the authors review the principal features of the China-Pakistan tax treaty and its impact on the China-Pakistan Economic Corridor project.
Foreign Exchange Issues in International Taxation
Authors: May G. , Acard C. , Frost A. , Kaeser C. , Oliveira Maciel T. , Wilkie J.S. , Morier D.
Published: December 2023

This article represents the paper (Subject 2) presented to the IFA Vancouver Congress regarding foreign exchange issues in international taxation on 1 September 2009. The presentation covered only selected issues. For a fuller discussion, see “Foreign Exchange Issues in International Taxation”, Cahiers de Droit Fiscal International, Vol. 94b.
The New Transfer Pricing and Advance Pricing Arrangement Rules
Authors: Murugesan S. , Nichani V.
Published: December 2023

The Malaysian transfer pricing landscape has recently seen changes, with the issuance of detailed rules on transfer pricing and advance pricing arrangements by the Malaysian Inland Revenue Board. The authors discuss the details of these developments and the implications they have on taxpayers.
Offshore Transfers: Policies and Divergent Views
Authors: Kane M.A.
Published: December 2023

This article considers the effort of jurisdictions to tax the gain of foreign persons resulting from offshore asset sales, examines the range of approaches taken by OECD and non-OECD countries, explores some of the basic underlying policy considerations, and demonstrates several reasons why developing countries might consider a more expansive approach.
The UN Model in Practice 1997–2013
Authors: Wijnen W. , Goede J. de
Published: December 2023

This research was carried out at the request of the Committee of Experts on International Co-operation in Tax Matters of the United Nations and focuses on the use of the specific UN Model provisions in tax treaties concluded in the 1997 to 2013 period.
Estonia Introduces Tonnage Tax and Seafarer Scheme
Authors: Soom A.
Published: December 2023

In this note, the author outlines the details of Estonia’s new tonnage tax and seafarer schemes, which were introduced effective 1 July 2020.
Tax Challenges Arising from Digitalization
Authors: Tandon S. (Suranjali)
Published: December 2023

In this article, the author argues that, since economic activity is no longer preconditioned on physical presence, the existing international tax rules are insufficient. Using evidence of base erosion and profit shifting by digitalized businesses, the article discusses the adequacy and utility of alternative measures for taxing profits arising from digitalized operations – including withholding tax, an equalization levy and the test for significant economic presence – and the consequences for source countries. The author finds that the test for significant economic presence may be a useful measure; however, its wider acceptance hinges on international consensus.
Impact Assessment for Pillar One and Pillar Two from a German Perspective
Authors: Heidecke B. , Liebe T.
Published: December 2023

In this article the tax effects of Pillar One and Pillar Two in Germany are discussed. The study complements the few studies available so far. The presented estimate of the tax revenues to be expected from the introduction of Pillar One varies between EUR 2 billion and 2.5 billion for the introduction of a 25%-over-10% rule. With regard to Pillar Two, additional revenues of around EUR 1.3 billion to 1.8 billion can be assumed in Germany. Further research should be carried out to anticipate expected changes in governments' behaviour as a response to Pillar One and Two. Likewise, expected compliance costs for multinationals need to be further assessed.
The Proposed OECD Treatment of Real Estate Investment Trust Distributions: Is the OECD Approach being Implemented in Tax Treaties?
Authors: da Conceição Costa L.H.
Published: December 2023

The author, in this article, considers the proposed OECD tax treatment of distributions from real estate investment trusts and the extent to which the OECD proposal is being implemented by countries in their tax treaties.
Deductibility of Pro Rata Expenses for Services Included from Abroad
Authors: Milewska M. , Lorenzo F. , Barrett F.
Published: December 2023

The authors consider the deductibility in Mexico of pro rata expenses allocated from abroad, specifically in light of a recent court ruling on the constitutionality of legal provisions denying a deduction for such expenses.
New Italian Tax Regime for Non-Commercial Trusts and Foundations
Authors: Cammilleri S.
Published: December 2023

On 23 December 2014, the Italian parliament converted the proposed Financial Bill for 2015 into law (Law 190/2014), which introduces a new tax regime for trusts and, in general, Italian entities (including, for example, foundations) not performing commercial activities. This note highlights and comments on the legislative changes.
Tax Appeal of Hybrid Capital Instruments in Italy through Tremonti Bonds and Basel III Anticipations
Authors: Ragusa M. , Corneli A.
Published: December 2023

While the EU Commission has been promoting the harmonization of the banking regulatory capital requirements across Member States in general and, in particular, of the criteria for the inclusion of hybrid capital instruments in the determination of the regulatory minimum capital, the recent financial markets disruption has caused an international consensus towards an improvement of the resilience of the banking sector. The outlook on the possible amendments to Tier 1 capital requirements seriously undermines the future ability of Italian banks to issue Tier 1 instruments in a tax efficient manner.
Thin Capitalization Rules Introduced, Yet Some Uncertainties
Remain
Authors: Macorin Carramaschi B.
Published: December 2023

Provisional Measure 472 of 2009, which introduced thin capitalization
rules in the Brazilian tax system, gave rise to much controversy among tax
practitioners, particularly as regards the application of some of its
provisions. These were substantially resolved with the introduction of new
provisions on the same subject by the time Provisional Measure 472 was
converted into Law 12,249/2010. Nevertheless, there remain some unresolved
issues.
Parliament
Authors: Morales T.
Published: December 2023

This overview highlights the Parliament’s call to consider a minimum level of taxation in the methodology used for the EU’s list of non-cooperative tax jurisdictions.
APAs and the Consequences of COVID-19
Authors: Sinx R. , Elshof T. , Monfils E.
Published: December 2023

In this article, the authors provide insight on the Dutch APA practice during the COVID-19 era with a particular emphasis on the arm’s length remuneration of distribution margins.
Permanent Establishments and the Offshore Oil and Gas Industry – Part 1
Authors: Gelineck M. Stubbe
Published: December 2023

Part 1 of this article discusses the concept of a permanent establishment (PE) regarding offshore oil and gas activities, specifically focusing on when offshore activity satisfies the criteria for a PE under the OECD Model and analysing whether a vessel can be a PE.
The Thin Capitalization Regime – A Discussion of Current and Proposed
Rules
Authors: Redington M. , Jones N.
Published: December 2023

The New Zealand tax authorities, in January 2013, released an Issues
Paper reviewing the current thin capitalization regime and proposing a number
of changes. The proposals contained in the paper are part of the overhaul of
New Zealand’s international tax system, which began in 2007. In addition to
providing a description of the current system and proposed changes, the authors
also analyse the impact the proposed changes will bring about.
The Glencore Case from a Constitutional Perspective: What Happens when the ECJ and the Constitutional Court Arrive at Different Conclusions?
Authors: Szatmari Z.
Published: December 2023

The procedural rights of taxpayers often have a significant impact on how certain rights provided by substantial tax rules can be exercised. Constitutional courts have the jurisdiction to review whether such procedural rules infringe any constitutional rights, whereas the ECJ has jurisdiction to review whether the application of procedural rules unlawfully limit the application of rights granted by EU law. In this article, the author discusses a Hungarian case in which the decisions of the two courts seemingly clashed and analyses what the potential implications of this could be.
OECD Report on
Business Restructuring: Dutch Transfer Pricing Perspective
Authors: Sporken E. , Brouwers D. , Looze R. de
Published: December 2023

On 22 July 2010 the OECD published final guidance on business
restructurings. The guidance combines the four Issues Notes into a single,
four-part chapter of the OECD Transfer Pricing Guidelines. This article
summarizes how the final version of the guidance has been amended as compared
to the Discussion Draft of 19 September 2008 and concludes with the (possible)
Netherlands point of view.
2010 Changes to Slovak Tax Legislation
Authors: Ciran T. , Blazejova Z.
Published: December 2023

On 22 October 2009, the Slovak parliament approved an amendment to the Income Tax Act, which introduces important changes to several tax laws. In this note, the authors summarize the key changes to the Income Tax Act and the Tax Administration Act, which, in general, take effect from 1 January 2010.
India Announces Guidelines on the GAARs
Authors: Krishnamurthy V.
Published: December 2023

In this article, the author discusses new administrative guidelines on the application of the Indian GAARs.
Applying the Arm’s Length Principle to Group Synergies
Authors: Maury S.
Published: December 2023

This article deals with the basic antagonism between group synergies and the arm’s length principle. On the one side, group synergies arise from the interactions between members of a group. On the other side, the arm’s length principle is based on the fiction that members of a group operate separately, as if they were unrelated.
Opinion Statement FC 1/2023 on the European Commission Public Consultation on the Introduction of a New Corporate Taxation System in Europe (BEFIT)
Authors: CFE Tax Advisers Europe
Published: December 2023

In this Opinion Statement, submitted to the EU Institutions on 26 January 2023, CFE Tax Advisers Europe comments on the European Commission Public Consultation on the Introduction of a New Corporate Taxation System in Europe (BEFIT).
Deductibility of Final Losses of European Subsidiaries: A Missed Opportunity by the French Courts?
Authors: Leclercq L. , Trédaniel P. , Messiter-Bourgoin J.
Published: December 2023

In this article, the authors comment on the recent decision of the Administrative Court of Appeal of Versailles in Groupe Lucien Barrière (23 June 2020), which addresses the application of the Marks & Spencer exception in France.
German Federal Constitutional Court Strengthens Role of ECJ as Lawful Judge in German Cross-Border Tax Matters
Authors: Puls M. , Altenburg N.
Published: December 2023

The German Federal Court passed a verdict (IR 73/16) emphasizing the importance of ECJ case law for cases regarding cross-border transfer pricing issues. The decision regards a cross-border loan that was allegedly not at arm’s length due to the lack of sufficient collateral provided. The German Federal Court ruled that, in order to prevent eroding the ECJ’s importance, ECJ case law must be considered by national courts and that the ECJ must be consulted in situations where clear guidance or interpretation from the ECJ under the acte clair and acte éclairé doctrines is not available.
Amendments to the Securitization Regime
Authors: Hannigan J.
Published: December 2023

Finance Act 2011 introduced a number of changes to Ireland’s securitization regime. Specifically, it expands the range of assets which may be securitized in an Irish securitization vehicle. It also introduces a specific interest deduction restriction for certain profit participating interest and swap payments in limited circumstances.
Intellectual Property Income as “Per Se” Passive Income: A Comparative Analysis of Controlled Foreign Company Rules in the European Union before and after the Implementation of the Anti-Tax Avoidance Directive (2016/1164)
Authors: Müller J.M. , Spengel C.
Published: December 2023

This article analyses the treatment of intellectual property income under EU controlled foreign company rules before and after the implementation of the Anti-Tax Avoidance Directive (2016/1164). It addresses the lack of common, operationalizable criteria to realize equality for digital businesses, and provides reform options, including the consideration of the OECD’s Pillar Two.
Tax Rulings: In Line with OECD Transfer Pricing Guidelines, but Contrary to EU State Aid Rules?
Authors: Taferner A. , Wouda Kuipers J.
Published: December 2023

This article examines the Commission’s State aid investigations into certain tax rulings that are alleged to provide selective advantages to particular MNCs. It analyses the Commission’s views on how transfer pricing should have been applied in the recent cases, comparing this approach with the OECD Transfer Pricing Guidelines and the transfer pricing aspects of the OECD’s Base Erosion and Profit Shifting (BEPS) project.
Are Financial Intermediary Services Capable of Being Exempt from VAT in an Outsourcing Context?
Authors: Gamito P.
Published: December 2023

In this article, the author examines the decision of the UK First-Tier Tribunal in eMerchantPay. In this case, the Tribunal analysed if certain outsourced services could qualify as financial intermediation services and therefore as exempt from VAT. The author argues that the conclusion reached by the FTT requires careful consideration and may not be applicable in all scenarios. It must be noted that, since HMRC did not lodge an appeal against it, the decision in eMerchantPay is final.
Italy and Switzerland Sign New Agreement on Income Taxation of Frontier Workers: Initial Comments from an Italian Perspective
Authors: Salvatore P. , Rossi R.
Published: December 2023

In this note, the authors analyse – with a focus on the Italian tax implications – the new provisions regulating the income taxation of “frontier workers” in the amending Protocol to the Italy-Switzerland Income and Capital Tax Treaty (1976) and the related implementing Agreement, both signed on 23 December 2020. Once the ratification procedure is completed, the new provisions will substantially update a well-established regulatory framework dating back to the mid-1970s.
Recent Developments in the Field of EU Fiscal State Aid: Three Cases Concerning Benelux Tax Schemes and the Position of the United States – Foreword
Authors: Heyvaert W.
Published: December 2023

This article introduces this special issue of European Taxation on recent State aid developments in the Benelux countries and the implications for multinational groups of companies headquartered in the United States.
Transferring a Company’s Tax Residence within the European Union: Implementation of the New Italian Exit Taxation Rule
Authors: Mojana M. , Marchiò S.
Published: December 2023

This article provides an overview of the provisions governing implementation of the new Italian exit tax regime that was enacted following the ECJ’s landmark decision in National Grid Indus (Case C-371/10) and comments upon a number of practical issues that remain unresolved.
Business Restructurings: Options and Practice – Part 1
Authors: Offermanns R. , Moniz R. Botelho
Published: December 2023

Part 1 of this article considers current common options for business restructurings, which give rise to various notable cases that are frequently in the news. The article draws on practical experience to understand the purpose, consequences and most important considerations to bear in mind when restructuring a business.
Navigating Uncertain Waters: A Critical Review of Withholding Tax Law and Practice in Trinidad and Tobago
Authors: Bennett J.
Published: December 2023

This article provides an analysis of the legislation and case law relating to withholding tax in Trinidad and Tobago. In this context, the author highlights a number of difficult issues that non-resident companies with operations in Trinidad and Tobago encounter in meeting their compliance obligations.
Comment on Miranda Stewart’s “Redistribution between Rich and Poor Countries”
Authors: Grinberg I.
Published: December 2023

This article is a response to the article written by Miranda Stewart regarding the issue of the redistribution of wealth from richer to poorer countries and the role that taxation could play in such a scenario.
Classification of Foreign Entities for Luxembourg Tax Purposes: Methodology and Tax Consequences
Authors: Hoor O.R.
Published: December 2023

The Luxembourg tax consequences of Luxembourg resident individuals or companies investing in a foreign entity (outbound investment) or foreign entities realizing income from Luxembourg sources (inbound investment) largely depend on whether the entity is classified as a company or a partnership. This article analyses the methodology applied when classifying foreign entities for Luxembourg tax purposes and the related tax consequences.
Reinsurance Intra-Group Agreements – The Key Role of RE-EVA in Supporting the Arm’s Length Principle
Authors: Scandone F.S. , Leoni B.
Published: December 2023

In an economic context in which risk management plays an important role for the economic players, it is increasingly common to come across reinsurance transactions. In this context, multinationals often make use of reinsurance agreements, generating significant transnational flows with the related consequences also in terms of transfer prices. Despite the efforts made by the OECD with the publication of the new chapter X of the OECD Transfer Pricing Guidelines and with the clarifications provided on risk analysis, the common transfer pricing rules are not immediately applicable to reinsurance operations, also due to the complexity of the agreements and the difficulty of applying the existing TP methods to them. Therefore, this article, having analysed the main transfer pricing risks associated with intercompany reinsurance transactions, intends to provide possible new tools to verify the compliance with the arm’s length principle of reinsurance agreements, such as the combined ratio, the capital release, actuarial analysis and the RE-EVA.
VAT Aspects of Cross-Border Transactions in the BEPS Era
Authors: Mattes L.
Published: December 2023

In the aftermath of the endorsement of the OECD International VAT/GST Guidelines and the adoption of the BEPS Final Reports, the author of this article seeks to give a general overview of the responses coming from the OECD and other stakeholders to the challenge of adapting national VAT systems to a globalized digital economy. Whilst the level of coordination has never been so high in that area, it must also be acknowledged that there is still a long road ahead in the fight against double taxation and unintended non-taxation, and also to avoid VAT becoming an obstacle to cross-border transactions.
Proceedings of a Special Conference in Honour of Professor Hugh J. Ault
Authors: Arnold B.J.
Published: December 2023

On Saturday, 29 September 2012, a special conference in honour of Professor Hugh Ault was held in Boston just before the 2012 Congress of the International Fiscal Association. Professor Brian Arnold provides a report of the conference.
Profit Attribution to a Construction Permanent Establishment: A Numerical Case Study
Authors: Leelaphaiboonsakul S.
Published: December 2023

This article provides an overview of the principles of the attribution of profits to a permanent establishment. Since there is no specific guidance on the attribution of profits to construction business, this article aims to demonstrate which transfer pricing method is appropriate to different scenarios of a construction project shown in the numerical case study.
The Netherlands Court of Audit: An Audit on Tax Avoidance
Authors: Koot H. , Rijke M. de
Published: December 2023

In this article, the authors describe, from an international perspective, the procedures performed by the Netherlands Court of Audit with regard to tax collection, and address recent initiatives of the international community to counter tax avoidance by multinational enterprises.
Finance Act 2015
Authors: Roxburgh D.
Published: December 2023

The Finance (No. 2) Bill 2014-15 was made law as the Finance Act 2015 on 26 March 2015. This note covers those provisions of the Finance Act 2015 that are of most relevance and importance for tax practitioners and provides section references for the remainder.
Recent Developments in Myanmar Tax Law
Authors: Sheehan J. , Balinas D.
Published: December 2023

In this article, the authors discuss Myanmar’s plan for tax reform and the latest tax developments introduced by the newly enacted Tax Administration Law.
New Individual Income Tax Act
Authors: Torres Segura J. , Gómez Alemany I.
Published: December 2023

Since 2009, Andorra has been taking steps towards improving its tax
framework and aligning it with internationally accepted standards. This note
describes the individual income tax regime that is being introduced for the
first time effective 1 January 2015.
Draft APA Guidelines
Authors: Biçer R.
Published: December 2023

The Turkish tax authorities recently issued “Draft Guidelines on Advance Pricing Agreements” with the aim of assisting corporate taxpayers that envisage filing an advance pricing agreement. It is obvious that these informative guidelines are beneficial for corporate taxpayers to ensure proper transfer pricing with their related parties. This article provides insights from the Draft Guidelines and discusses the significant issues surrounding advance pricing agreement procedures in Turkey.
Recent Amendments to the Definition of Alternative Investment Funds and Tax Ramifications for Foreign Investment Vehicles
Authors: Zucchetti S. , Petrelli R.
Published: December 2023

This article provides an overview of the effects that the decree implementing the AIFM Directive has had on the process of classifying non-Italian investment vehicles and its consequences for the tax treatment of income derived therefrom.
Far-Reaching Changes in Austria Stemming from the Budget Accompanying Act 2011
Authors: Baumann A. , Gatterer M.
Published: December 2023

The "Budget Accompanying Act 2011" brought far-reaching changes, inter alia, to the Income Tax Act, Corporate Income Tax Act, Reorganization Tax Act and Stamp Duty Act. In addition, it introduced the Stability Tax Act. This note is intended to provide a preliminary overview of these changes.
Strengthened Enforcement on the Taxation of Capital Gains Derived Indirectly by Non-Residents Further Impacts Inbound Investments
Authors: Finnerty C.J. , Lai B.
Published: December 2023

The authors discuss in detail Circular 698, which was recently issued by the Chinese tax authorities on the subject of the tax treatment of capital gains realized by non-residents. Circular 698 emphasizes the substance over form approach and aims to deny tax benefits for transactions which are tax-abusive. The article also provides a practical perspective on the current positions taken by the tax authorities and the impact this may have on investment models into China.
Exit Taxation within the European Union/European Economic Area – After Commission v. Denmark (C-261/11)
Authors: Tell M.
Published: December 2023

This article provides an analysis of company exit tax regimes with a particular focus on the recent ECJ decision in Commission v. Denmark (C-261/11). The author outlines the acceptable scope of exit tax regimes for companies, analyses unresolved issues, which include the length of deferral, guarantees for deferred exit taxes and interest charges levied on deferred exit taxes and examines the EU compatibility of the proposed Danish exit tax regime.
Belgian Ruling Commission’s Opinion of the Concept of "Employer" within the Meaning of Article 15 of the OECD Model
Authors: Cools A.
Published: December 2023

The author discusses a recently published ruling of the Belgian Ruling Commission on a number of implementation measures contained in article 15 of the OECD Model (2010), in particular, whether substance should prevail over form in defining the concept of "employer" for the purposes of article 15, as well as the "by or on behalf of" criterion.
Taxation of Capital Gains on Indirect Sales of Shares of Brazilian Companies by Non-Residents: The Allocation of Taxing Rights or Tax Avoidance Schemes?
Authors: Calich da Fonseca I. Garcia
Published: December 2023

In this article, the author examines the arguments for taxing capital gains derived in Brazil from the indirect sale of shares in Brazilian resident companies by non-residents and how such a situation could be brought about.
New Zealand Taxpayer Entitled to Foreign Tax Credit for Tax Sparing Granted to Controlled Foreign Company
Authors: Holmes K.J.
Published: December 2023

This note summarizes the New Zealand High Court decision in Lin v. Commissioner of Inland Revenue, which entitled a New Zealand-resident taxpayer with relevant interests in certain controlled foreign companies in China to a foreign tax credit for both tax paid in China by the controlled foreign companies and to tax spared in China arising from tax concessions granted to those companies.
Profit Attribution Challenges in a Digital Economy – A Transfer Pricing Analysis of the EU Virtual Permanent Establishment Concept
Authors: Neuvel W. , Jong S. de , Uceda A.
Published: December 2023

In this article, the authors discuss some implications for multinational enterprises of the proposed introduction of a “virtual permanent establishment” (virtual PE) by the European Commission. First, the authors discuss the update of the PE definition, i.e. the virtual PE. Second, the authors discuss how the profit attribution to this updated PE definition is intended to work and to what extent this profit attribution is aligned with value creation of MNEs in a digital economy as highlighted by the OECD Transfer Pricing Guidelines. It can be concluded that the EC proposal is not in line with the existing consensus on the taxation of the digital economy and artificially aims to be in accordance with the OECD Guidelines. The authors suggest that the EC considers the recommendations by the OECD more thoroughly in tackling this difficult issue of taxation of the digital economy.
Compartmentalization in the Netherlands Participation Exemption: A Model for Europe?
Authors: Strien J. van
Published: December 2023

This article discusses the concept of compartmentalization in the context of the Netherlands participation exemption. The author outlines a decision of the Netherlands Supreme Court wherein it was held that a statutory base is needed for such compartmentalization to apply in the event of a change in legislation and then analyses remedial legislation enacted in response to the decision and its compatibility with EU law.
Appropriate Application of the Berry Ratio as a Profit Level Indicator
Authors: Bhatnagar V.
Published: December 2023

The author discusses the appropriate application of the Berry ratio as a profit level inductor. Guidance from the OECD, the United States, and Japan is considered, along with case law from Indian courts.
Tonnage Tax: A Widespread State Aid Regime in the European Union
Authors: Martínez Bárbara G.
Published: December 2023

This article examines State aid concerns regarding tonnage taxation schemes, the evolution of the EU guidelines on maritime transport over the last 15 years and the latest Commission Communications and decisions on tonnage taxation.
New EU VAT rules applicable from 1 January 2010 (1)
Authors: Corput W. van der
Published: December 2023

On 1 January 2010, the Member States of the European Union must comply
with the amendments that have been made to the basic VAT Directive on the
place-of-supply rules for services and measures relating thereto and measures
aimed at combating tax evasion connected with intra-Community transactions, and
with the new rules on refunds of VAT to taxable persons resident in another
Member State. In this article, the author gives an overview of how the Member
States have made use (or intend to make use) of the options available to them
in the context of the new rules.
The Effect of Taxation on Business Mobility in the European Union: The Case of the Netherlands
Authors: Brilman L.
Published: December 2023

This article considers how Dutch exit taxation affects business mobility regarding the emigration and the immigration of a business, the transfer of assets in “permanent establishment situations”, alternative means of business migration, and whether the current Dutch tax system contravenes treaty and EU law. It also provides suggestions for improvement.
Corporate Loss Utilization through Aggressive Tax Planning
Authors: Verlinden I. , Michiels O. , van de Gucht J. , De Méyère A. , Marneffe P.
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 Belgium.