bluuebunny/crossref_metadata_2025 huggingface dataset:
Opinion Statement of the CFE on the Case Law of the European Court of Justice on Transfer Pricing Related to Loans (Decision of 21 January 2010 in Case C-311/08, SGI)
Authors: Confédération Fiscale Européenne
Published: December 2023

This is an Opinion Statement prepared by the ECJ Task Force
Members of the Task Force are: Axel Cordewener, Paul Farmer, Daniel Gutmann, Volker Heydt, Eric Kemmeren, Michael Lang, Franck Le Mentec, Pasquale Pistone, Albert Raedler, Stella Raventos-Calvo (Chair), Isabelle Richelle, Friedrich Roedler and Kelly Stricklin-Coutinho. The views expressed in this statement do not necessarily represent the views of each individual member of the Task Force or of organisations with which any of the members are associated.

of the CFE. The CFE is the leading European association of the tax profession with 33 national tax adviser organisations from 24 European countries representing over 180,000 tax advisers.
China's Tax Treaties and Beneficial Ownership: Innovative Control of Treaty Shopping or Inferior Law Making Damaging to International Law?
Authors: Sharkey N. C.
Published: December 2023

In this article, the author focuses on how China has used the concept of "beneficial ownership" in tax treaties before concessional tax treatment becomes available to counter treaty shopping. In this regard, the author considers both practical and theoretical issues.
New Rules on
Interest Deductibility Threshold for Financial Institutions: Decree-Law 112 of
25 June 2008
Authors: Ferrari L. , Lombardi M.
Published: December 2023

Just a few months before the so-called liquidity crunch hit its peak,
and after the subsequent enactment by the Italian government of a number of
decrees in the non-tax field aiming at supporting banks and financial markets
as a whole, the government issued Decree-Law 112 of 25 June 2008, thereby
introducing new rules that will result in an additional tax burden for banks
and other financial institutions. Among the effects of this Decree-Law
considered by this article, are the new limitations for financial institutions
on the deduction of interest payable and of other financial expenses for
purposes of corporate income tax and the regional tax on productive
activity.
Amendments to the VAT systems of EU Member States on 1 January 2013
Authors: The Editors
Published: December 2023

On 1 January 2013, the Member States of the European Union must have transposed into their national VAT Acts the new rule on the place of supply of long-term hiring of means of transport and the provisions contained in the Second Invoicing Directive. In this overview, the Editors give an overview of the state of the transposition process in the individual Member States at the beginning of November 2012.
Leveraged Transactions under Scrutiny by French Lawmakers
Authors: Burnat F.
Published: December 2023

The fourth Amended Finance Act for 2011 introduced a limitation on the deductibility of interest expense incurred in relation to the purchase of shares of a company if the decision to purchase the company is made in France and the control or influence over the target company has been located in France during the 12 months following the acquisition of the controlling shareholding. The author considers this rule, the purposes of which is to disallow interest expense in relation to share purchases entirely decided by foreign sponsors with no French nexus.
Transfer Pricing
Rules Introduced by Law 18,083 and Detailed Guidance
Authors: Jose Santos Maria
Published: December 2023

The Tax Reform Law 18,083 incorporated for the first time the transfer
pricing regime under the rules of the corporate income tax. This article
considers the recently enacted Regulatory Decree of this regime and its impact
on taxpayers.
Is It Time To Anchor Intra-Group Services in the Safe Harbour?
Authors: Jain A. (Ajit) Kumar
Published: December 2023

The author considers transfer pricing provisions in Finance Bill 2014,
specifically with regard to safe harbours for intra-group services. The
treatment of safe harbours for intra-group services in India is also compared
with that in several other countries.
The Exemption for Education under EU VAT
Authors: Swinkels J.J.P.
Published: December 2023

Under the EU VAT system, children’s or young people’s education,
school or university education, vocational training or retraining provided by
bodies governed by public law having such as their aim are exempt from VAT. The
author analyses several issues as regards the scope of the exemption for
education that have already been brought before the ECJ, such as the VAT
treatment of contract research by universities, secondment of teachers by
educational institutions and the scope of the exemption for the services of
private tutors.
GloBE: Why a Nominal Tax Rate of More Than 15% Might Not Be Enough
Authors: Dziurdź K. , Marchgraber C.
Published: December 2023

This article explains why the effective tax rate for the purposes of the Global Anti-Base Erosion (GloBE) rules may deviate from the nominal corporate income tax rate and fall below 15%, even in high-tax jurisdictions. It further addresses the (non-)application of the substance-based income exclusion in loss situations.
A Strategic Consideration of China’s Measures in Response to FATCA
Authors: Yuesheng J.
Published: December 2023

This opinion piece, from the perspective of a senior Chinese tax official, sets out the author’s views on the impact of FATCA upon China, and the manner in which the BEPS action plans assist the United States in achieving its FATCA goals. The author also presents proposals for actions which China could take to assert its national interests in the new order of taxation of cross-border income.
VAT Exemption on Individual Investment Management Where Assets Are Pooled
Authors: Zutt J. , Boy U.
Published: December 2023

This article discusses the groundbreaking case of the Dutch Amsterdam Court of Appeal on widening the application of the VAT exemption for management of special investment funds.
WCO Approves Transfer Pricing Case Study
Authors: Cooper J. , Volpato M.
Published: December 2023

The authors discuss the new case study released by the Technical Committee on Customs Valuation of the World Customs Organization. The case study is a significant development, providing a practical example of how certain transfer pricing documentation can be used by customs authorities to determine whether a relationship has influenced the price when assessing customs valuation.
The OECD’s Common Reporting Standard: The Next Step in the Global Fight
against Tax Evasion
Authors: Radcliffe P.
Published: December 2023

The author discusses the background to and key elements of the OECD’s
plans for a global reporting standard, whilst also briefly considering the
competing taxpayer information reporting initiatives.
The New Argentina-Mexico Income and Capital Tax Treaty (2015): A Tax Treaty in the BEPS Era
Authors: Fuentes Hernández D. , Screpante M.S.
Published: December 2023

This article considers the Argentina-Mexico Income and Capital Tax Treaty (2015). In particular, the provisions on a permanent establishment, business profits, dividends, interest, royalties, avoidance of double taxation, anti-avoidance and the exchange of information are analysed. The implications of the OECD/G20 Base Erosion and Profit Shifting measures are also examined.
Germany: Federal Tax
Court Closes Loophole in Germany–Luxembourg Tax Treaty
Authors: Perdelwitz Andreas
Published: December 2023

In its decision of 4 July 2008,
BFH v. 4 July 2008, Case I R 62/06. the Federal Tax Court (Bundesfinanzhof, BFH) held that the income of a German limited
liability company derived from a participation as a typical silent partner of a
Luxembourg company is not exempt in Germany in accordance with the
Germany–Luxembourg tax treaty.
Germany–Luxembourg income and capital tax treaty, signed 23 August 1958. In this note, the author considers the Federal Tax
Court’s decision.
Taxation in Qatar – An Abadi (Non-Finite) Vehicle for Economic Diversification?
Authors: Al-Asmakh M.A.
Published: December 2023

In December 2018, Qatar introduced a package of tax reforms that represents a major move towards diversifying government revenue and achieving its vision of becoming an advanced country by 2030. This article argues that taxation is the most effective way to accelerate Qatar’s independence from gas revenues.
The International Hiring-Out of Labour from a Danish Perspective
Authors: Pedersen B.M.
Published: December 2023

This article describes the Danish tax rules for the employees of
foreign enterprises who are hired out to work for Danish enterprises. The rules
regarding the international hiring-out of labour were amended in 2012. The
article, therefore, focuses on the new legislation, but also considers the
previous rules.
Can IFRS also Become the Standard for Netherlands Tax Purposes?
Authors: Bruins Slot W. , Gerrits E.D.M.
Published: December 2023

The Netherlands Revenue is increasingly becoming inclined to use the
International Financial Reporting Standards as the basis for determining the
taxable profit of the year. Initially, this article discusses the question of
if, and to what extent, tax theory permits the Netherlands Revenue to do this.
Subsequently, the consequences of doing this are analysed from the tax
accounting perspective.
BITs and Taxes
Authors: Kubicová J.
Published: December 2023

This article studies bilateral investment treaties (BITs) and their application to taxation. The main focus is on the potential application of BITs in tax-related investor-state dispute resolution. It pays attention to the emerging issues that challenge the applicability of BITs in a tax-related investor-state dispute in the European Union.
This paper is a result of the research project supported under the scheme VEGA 1/0776/16, funded by the Ministry of the Education of the Slovak Republic.
Introduction of New Administrative Principles Decree for Transfer Pricing Documentation and Tax Audit Procedure
Authors: Heidecke B. , Marburg C.
Published: December 2023

On 3 December 2020, the Federal Ministry of Finance issued new administrative principles on procedural questions of transfer pricing. They are binding for tax authorities. Inter alia, the rules deal with selecting the transfer pricing method, documentation language, tax authorities’ room for amendments, sensitivity analysis of valuations and estimating the taxable base in the case of not fulfilling the documentation duties. The principles provide valuable guidance for taxpayers, though they lack guidance on the responsibilities of the tax authorities and the perception is that they put additional duties on taxpayers’ shoulders without also underlining the responsibilities of tax inspectors.
Tax Treatment of Irish Investment Fund and SPV Structures
Authors: Sheehan J.
Published: December 2023

This article examines the tax treatment of investment fund and structured finance vehicles in Ireland. It considers the availability of double tax treaty relief for Irish funds and certain anti-avoidance measures introduced in 2011 in the context of Ireland’s securitization regime. The article also discusses how the vehicles can be combined to address potential issues at the investor and asset levels.
The Sad History of Carbon Carousels
Authors: Wolf R.A.
Published: December 2023

Carousel fraud is no longer confined to transactions involving goods. The recent incidence of carousel fraud in the market for CO2 emission rights demonstrates that carousels can also involve intangibles. In this article, the author discusses the trade in CO2 emission allowances, the carousel fraud in the carbon market and how the fraud may affect legitimate businesses operating in that market, the measures that were taken to combat the fraud, and the ideas for a more comprehensive solution to stop this type of fraud.
Pillar Two – Gauging the Impact on the Banking Landscape
Authors: Robinson G. (Graham) , Rafiq A. , Aleem S. , Talbot J.
Published: December 2023

Pillar Two, the regime introducing a globally consistent 15% minimum tax, is due to come into force from 1 January 2024 across a number of jurisdictions. Despite this only being a matter of weeks away, certain areas of the rules are still subject to discussion, thus creating complexity for groups. As more jurisdictions release draft rules and enact their legislation, further complexities are arising which could have material impacts for all groups subject to Pillar Two. In this article, the authors consider some of the key challenges that the banking sector faces in complying with Pillar Two and the actions that should be taken.
Limitations on Benefits Articles in Income Treaties: The Current State of Play
Authors: Gutmann D.
Published: December 2023

This article is the fifth of a series of articles that will feature the sessions to be presented at the 66th Congress of the International Fiscal Association (IFA), to be held in Boston September 30 through October 4. Readers who wish to register may do so at www.ifaboston2012.com or at the IFA USA Branch website www.ifausa.org (click on the IFA 2012 Boston icon).
Practical Information on European VAT
Authors: Annacondia F.
Published: December 2023

As is traditional in the first issue of each year, this overview presents the key features of the VAT systems of most European countries (both EU and non-EU), including standard and reduced VAT rates, various thresholds, the format of the VAT identification numbers and contact details of the offices of the national tax administration which process VAT refund applications or provide information to non-resident businesses on national VAT rules. The overview is compiled by the editor on the basis of information provided by the members of the European Knowledge Group of IBFD at the beginning of 2023.
Real Estate Investment Trusts in the United Kingdom
Authors: Fritsch N. , Prebble J. , Prebble R.
Published: December 2023

This second in a series of four articles deals with the Real Estate Investment Trust (REIT) regime in the United Kingdom. A previous article considered the US REIT regime – two subsequent ones examine REITS in Germany and compare the three regimes.
Court of Justice
Authors: Xygka A.
Published: December 2023

This overview highlights the Court’s decision on legislation that allows only resident specialized property funds to be exempt from corporate income tax (L Fund (Case C-537/20)).
Offshore Tax Evasion and Tax Reform – A Multilateral Perspective
Authors: Nethercott L. , Anamourlis T.
Published: December 2023

This article seeks to examine the resources available to the Australian Tax Office in addressing the issue of offshore tax evasion through the use of tax havens. The discussion is made from a domestic law perspective such as audit powers, as well from an international perspective, via the use of tax treaties for exchange of information. The problems associated with bank secrecy rules are also covered.
Belgium Finally Introduces Tax Consolidation as of 2019
Authors: Van Den Berghe P. , Verdonck S.
Published: December 2023

In this article, the authors discuss the features of the long-awaited tax consolidation regime introduced as part of a broader corporate tax reform effective 1 January 2019.
Valuation of Intangible Assets: An Indian Perspective
Authors: Ahuja S.
Published: December 2023

The author looks into the common approaches for valuing intangibles and the recent OECD Discussion Draft on intangibles, before presenting a detailed analysis of the Indian Tally case.
The Cost Sharing Exemption under Debate – Part I
Authors: Jovanovic N. , Merkx M.
Published: December 2023

The cost sharing exemption of article 132(1)(f) of the VAT Directive is currently under debate, both at the level of the European Commission and individual Member States. In Part I of this article, the authors analyse each of the conditions for applying this exemption. In the second part of this article, the authors discuss, in particular, the application of the exemption in cross-border scenarios, including both EU and non-EU situations, and the interaction of the exemption with the concept of VAT grouping as set out in article 11 of the VAT Directive.
GST on Package Tours to Australia
Authors: Millar R.
Published: December 2023

The Australian GST system was designed to tax inbound tourism in accordance with the destination principle. In this article, the author explains that, following two decisions of the Federal Court of Australia and despite an amendment to the GST Act in 2005, the legislative policy intent is difficult to achieve where package tours to Australia are sold to non-resident tourists through a chain of suppliers involving an Australian and a non-resident travel agent or tour operator.
Highlights and Trends in Global Taxpayers’ Rights 2020
Authors: Weffe H. C.E.
Published: December 2023

Primarily supported by case law, this article summarizes and analyses three trends in the practical protection of taxpayers’ rights in 2020 arising from IBFD’s Observatory for the Protection of Taxpayers’ Rights, relating to (i) confidentiality, (ii) more intensive audits and criminal and administrative sanctions and (iii) cross-border situations.
Hybrid finance and double taxation treaties
Authors: Six M.
Published: December 2023

Company finance is traditionally divided into equity and debt, but
this does not truly capture the great diversity of the financial instruments
available, and hybrid instruments incorporate elements of both equity and debt.
From a tax perspective, the classification of hybrid instruments as equity or
debt is crucial. This article examines the circumstances in which the yield of
a hybrid financial instrument can or must be qualified as either a dividend or
interest under tax treaties irrespective of the treatment under the domestic
laws of the contracting states.
75 Years... And More?
Authors: Dickinson F.
Published: December 2023

The Managing Editor of the Bulletin for International
Taxation reviews the 75-year partnership between the International
Fiscal Association and IBFD, and speculates on what the future might bring for
the two organizations.
Selective Purchase through Buy-Back Deemed To Be a Colourable Device To Avoid Taxes
Authors: Jhabakh P.R.K.
Published: December 2023

The Authority for Advance Ruling has deemed the selective buy-back of shares from shareholders out of the company’s reserves which had accumulated due to the non-distribution of profits, to be a colourable device framed to avoid the payment of tax. The author considers this case and the reasons for its significance.
The New Italian Transfer Pricing Provision Concerning Unilateral Corresponding Adjustments
Authors: Massimiano A. , Severi M.
Published: December 2023

On 30 May 2018, the Revenue Agency published the regulation implementing the new rules on unilateral corresponding adjustments. The article discusses the specifics of the regulation, highlighting the opportunities arising from the new procedure and the most critical aspects.
Dealing with Debt
Authors: Assavapokee C. , Sittsakonsin P.
Published: December 2023

This article is based on a comparative survey presented at the 2009 Baker & McKenzie Annual Asia-Pacific Tax Conference and provides a broad overview of the tax consequences arising from the sale, transfer, etc. of debt.
VAT Committee – Guidelines 2014
Authors: Annacondia F.
Published: December 2023

This overview contains the Guidelines adopted by the VAT Committee on 24-25 February 2014 and 20 October 2014.
Taxing the Borderless Cloud within the Singapore Border
Authors: Koenig H. , Ho K.C.
Published: December 2023

Cloud computing is emerging as the next big thing in information technology (IT) involving the delivery of hosted services over the Internet. It will challenge the traditional provision of IT needs via the usual channels of purchase or licence, ownership and administration, thus bringing along new opportunities and challenges for tax planners as well as tax regulators. The authors examine the Singapore tax issues, as well as opportunities, in the context of cloud computing users and providers.
Access to Justice in the Tax Court of Canada
Authors: Boyle P.J.
Published: December 2023

The author, in this article, outlines how the tax courts in Canada incorporate access to justice considerations for taxpayers in the resolution of tax disputes, and identifies current issues in this area.
Key Decision of the Italian Supreme Court on the Relationship between the Concepts of Beneficial Ownership and Abuse of Tax Treaties
Authors: Arginelli P. , Tenore M.
Published: December 2023

In this article, the authors examine the implications of Decision No. 17746 of 22 June 2021 of the Italian Supreme Court of Cassation regarding “beneficial ownership” and its interaction with abuse of tax treaties in the context of royalty payments, as well as the allocation of the burden of proof upon the withholding agent.
The Taxation of Trusts and Foundations in Greece
Authors: Panetsos L.
Published: December 2023

This article discusses the taxation of trusts and foundations in Greece, which has been clarified following the issuance of the long-awaited Circular POL. 1114/2017. Trusts and foundations are concepts unknown under Greek private law; therefore, their tax treatment is of particular interest from a comparative perspective. Although the new Circular provides a much better understanding of how these vehicles are taxed, some issues remain unresolved.
Anti-Abuse Rules of General Application
Authors: Issakova S.
Published: December 2023

In this article, the author examines Kazakhstan’s anti-abuse rules in light of Action 6 of the OECD/G20 BEPS Project, which is aimed at preventing the granting of treaty benefits in inappropriate circumstances, as well as legislated taxation principles.
Taxation of Income from the Provision of Services – More Requirements, Less Certainty
Authors: Yang H.
Published: December 2023

The Chinese tax authorities have placed service permanent establishments under greater scrutiny as the country sees a greater inflow of foreign employees and expertise. The author discusses how such service permanent establishments are likely to be determined and taxed in China under current regulations and guidelines, while drawing parallels with the OECD and UN Model Conventions and their respective Commentaries.
EU Introduces Plans Regarding a Fair and Efficient Corporate Tax System
Authors: Veldhuizen R. , Adorjan T.
Published: December 2023

This note discusses the European Commission’s Communication on its plans regarding fair and efficient corporate tax systems in the European Union, which was released on 17 June 2015, with an emphasis on the transfer pricing aspects of the proposed changes.
Amendments to the VAT systems of EU Member States on 1 January
2015
Authors: Annacondia F.
Published: December 2023

In this article, the editors give an overview of the history of
taxation of TBE services in the European Union and of the state of affairs, at
the beginning of November 2014, of the transposition process of the rules that
must enter into force on 1 January 2015 in the individual Member
States.
The New Mutual Agreement and Arbitration Procedure under Art. 25 of the Germany–US Tax Treaty
Authors: Bahns Jochen , Schoenfeld Jens
Published: December 2023

This article discusses the revised mutual agreement and arbitration procedure in Art. 25 of the Germany–US tax treaty. Following an explanation of the appeal, equity and consultation procedures, which remain unchanged, the article critically examines the new mandatory arbitration clause. Potential interpretation and application problems are highlighted, as well as possible solutions. In this context the Memorandum of Understanding (including the operating guidelines for the Arbitration Board) of 8 December 2008 is considered.
The Polish VAT Exemption for Insurance Is Ahead of EU Law
Authors: Rzepa T. , Wyganowski M.
Published: December 2023

Although the Council of the European Union has never adopted the European Commission’s proposals to amend the VAT treatment of financial services and insurance transactions, the Polish legislator has already transposed the most recent versions of the proposals into the national VAT Act, with effect from 1 January 2011. In this article, the authors discuss the experience in Poland over the past two years with the proposed EU regime for insurance, which illustrates possible weaknesses of that regime.
Reform of the EU VAT System for Intra-Community Transactions
Authors: Aujean M. , Valenduc C. , Wolf M.
Published: December 2023

From a macroeconomic perspective, increasing the rate of VAT seems to
be one of the most widely used policy instruments for budget consolidation.
Unfortunately, the EU VAT system, and notably the system of taxing
intra-Community transactions, is highly vulnerable to missing-trader fraud
(“carousel fraud”) and higher VAT rates make the VAT system even more
attractive for fraudsters. In this article, the authors argue that associating
VIVAT with an adequate electronic monitoring of transactions offers an
effective solution.
Designing a Tax Amnesty – One Size Does Not Fit All
Authors: Memon N.
Published: December 2023

This paper deals with the designing of a tax amnesty for developed and developing countries. Since tax cultures vary in countries, tax amnesties must reflect the differences in these cultures. The success of a tax amnesty hinges on its design that should be calibrated to the requirements of each jurisdiction. This paper analyses the purpose and outcome of tax amnesties as well as reasons for the inadequate performance thereof in developed and developing countries. It then provides the basis of a distinct set of features for the tax amnesty design for those distinct jurisdictions. Finally, the paper sets out a number of proposals in relation to the design of a tax amnesty.
An Update on Foreign Trusts under French Tax Law
Authors: Douvier P-J. , Gocer S. , Véron P.
Published: December 2023

In this article, the authors explain how trusts are treated under French law by both legislation and the French courts. In particular, the authors focus on the Court of Appeal decision in Clive-Worms (Case No. 19PA00458).
Tax Litigation before the Spanish Supreme Court
Authors: Garzón Herrero M.V. , López-Yuste Padial L.
Published: December 2023

In this article, the authors describe the organization and functioning of the Spanish Supreme Court and consider the significance of the Supreme Court with regard to the Spanish tax law.
Dealing with Debt
Authors: Walker J. (John)
Published: December 2023

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

This overview highlights the Parliament’s adoption of an opinion supporting the proposed Unshell Directive (COM(2021) 565 final) (Unshell proposal), with amendments.
Master File, Country-by-Country Reporting and Local File: Law in the Making
Authors: Bilaney S.K.
Published: December 2023

In the Finance Act, 2016, the Indian government has introduced a regime regarding the country-by-country report and the master file under Indian tax law. A partial version of the proposed regime is introduced in the Finance Act, 2016. More specific rules and the format for the master file and country-by-country report will be prescribed in the future. In this article, the author reviews the proposed regime regarding the country-by-country report and the master file, and its anticipated impact on Indian taxpayers.
Income from inactivity under Article 15 of the OECD Model Tax Convention
: Part 1
Authors: Pötgens F.P.G.
Published: December 2023

In this two-part article, the author first introduces the topic of the
taxation of income from inactivity under Art. 15 of the OECD Model Tax
Convention. He then considers, in Part 1, compensation for the cancellation of
employment, sickness benefits and disability allowances and income derived from
non-competition agreements.
The Myopic GST Update in the Maldives
Authors: Fazal Z.
Published: December 2023

The Maldivian parliament has recently amended the Goods and Services Tax Act 2011 to increase the country’s GST rates. In this article, the author discusses the change in the Act, the purpose of the reform and the impact of this reform on businesses and on the Maldivian economy.
Litigation Strategies, Options and Solutions
Authors: Vohra A.
Published: December 2023

In this article, the author describes the problems faced by the Indian
dispute resolution system and provides some recommendations.
Must the Residence State Allow a Deduction for Foreign-Source Losses in
the European Union?
Authors: Helminen M.
Published: December 2023

This article discusses a pending ECJ case concerning the Finnish tax
system, which prevents a Finnish resident individual from deducting foreign
losses. The author examines the issue in light of the free movement of capital
principle and concludes that, while the Finnish system constitutes a
restriction on this principle, it may be justified on the basis of the
coherence of the Finnish tax system and the balanced allocation of taxing
rights.
VAT on Private Educational Services in Greece: Is It Allowed Pursuant to the VAT Directive?
Authors: Dafnomilis V.
Published: December 2023

In this article, the author examines the compatibility of the imposition of VAT at a rate of 23% in Greece on private educational services with the VAT Directive. For this purpose, the author analyses the legislative changes taking place in Greece, and examines which educational services fall within the VAT exemption of article 132 of the VAT Directive and under which conditions.
Permanent Establishments and the Mining Industry – A Roadmap to the Taxation of Resource-Based Activities under Tax Treaties
Authors: Brown C. (Catherine)
Published: December 2023

The mining industry typically involves foreign expertise and personnel, and the taxation of the business profits generated is a heavily debated issue. Where there is a tax treaty in place, the right of the country to tax business profits sourced within its borders is further compounded by whether or not the foreign investor has a permanent establishment in that country. The permanent establishment concept is therefore central to the taxation rights of the country where the mining activity is being undertaken.
Assessment of Major GST Expenditures in Pakistan
Authors: Hassan B.
Published: December 2023

Pakistan is a lower middle-income country with a very low tax-to-GDP
ratio, which makes it difficult for the government to balance the budget. An
important reason for the low tax-to-GDP ratio is the loss of revenue due to tax
expenditures. In this article, the author discusses the most important GST
expenditures and concludes that they are purely politically motivated and,
thus, ineffective and inefficient.
The Protective Policy of the Swiss VAT Authorities
Authors: Derks R.
Published: December 2023

Experience in the past has shown that the administrative practice of
the Swiss tax authorities as regards refunding VAT to non-resident businesses
gives rise to the question of whether they abuse their powers. In this article,
the author discusses several examples of the protective policy of the tax
authorities.
From Evasion to Avoidance: The Historical Evolution of the OECD Model in Addressing Tax Abuse
Authors: Nissinen M.
Published: December 2023

In this article, the author examines the historical evolution and significance of the anti-avoidance provisions in the various OECD Models and the Commentaries on the OECD Model as these measures affect the abuse of tax treaties. The author also discusses the time before the OECD Model.
Will Budget Proposal To Modify the Term “International Transaction”
Increase the Compliance for Indian Companies?
Authors: Ray S. , Dattani A.
Published: December 2023

The authors review the proposed amendment to section 92B(2) of the
Income Tax Act with regard to the definition of “international transaction” for
transfer pricing purposes. Controversies arising from prior judicial decisions,
as well as the potential impact of the amendment on global contractual
arrangements of multinationals, are also considered.
Tax Incentive Regimes in Croatia, FYR Macedonia and Serbia – Should They Compete?
Authors: Kireta I.
Published: December 2023

The author, in this article, compares the tax incentive legislation and other investment incentives of three post-Yugoslav Republics that are now EU accession countries, namely Croatia, Serbia and (FYR) Macedonia, and provides recommendations regarding possible harmonization of such incentives and opportunities for mutual agreement modelled after the MERCOSUR common market union.
The Portfolio Investment Entity Regime
Authors: Haddon G. , Komeshi O.
Published: December 2023

Three years ago the portfolio investment entity (PIE) regime was introduced in New Zealand. The PIE regime is a set of concessionary tax rules available to managed funds and has since become a preferred way of managing collective investments with more than 80% of the funds under management now held through PIEs. The article looks at the background to the regime, the different types of PIEs and the outcome for investors.
Comments on the Maltese DAC6 Implementation and Interpretative Guidance
Authors: Bonnici R. (Ruth)
Published: December 2023

In this note, the author provides a brief overview of the Maltese implementation of DAC6. The note guides the reader through the particularities of the Maltese transposition, providing highlights from the Maltese guidelines on points of interpretation and examples.
Competition, Coordination and Avoidance in International Taxation
Authors: Keen M.
Published: December 2023

This article examines the links between competition, coordination and avoidance in international taxation through the lens of simple economic ideas, reviews the relationship between competition and coordination and considers the impact on tax competition of measures to reduce tax avoidance, with a focus on the issue of preferential regimes.
Value Creation Theory of the BEPS Report and China’s Reasonable Share in Global Value Allocation
Authors: Yuesheng J.
Published: December 2023

Recently, the OECD published seven deliverables of the BEPS Action Plan which demonstrate that the value creation theory is more in tune with the interests of Western countries. This article analyses the arguments in support of this theory and offers general thoughts and strategies, as well as specific suggestions for policy administration in order for China to obtain a reasonable share of global value allocation.
New UK CFC Rules
Authors: Smith P.
Published: December 2023

Following six years of consultations, the new UK controlled foreign
company rules have finally been enacted as part of Finance Act 2012. The
reforms took effect on 1 January 2013 and are intended to make the United
Kingdom’s tax system competitive and encourage international businesses to base
their headquarters and business operations in the United Kingdom.
The Changes
Introduced by the 2014 Update to the OECD Model Tax Convention
Authors: Barret E.
Published: December 2023

The OECD Council approved the contents of the 2014 Update to the OECD
Model Tax Convention on 15 July 2014. This article provides an overview of the
changes introduced by the 2014 Update and the guidance they provide.
Case Note: TVS Motors – Payments Are Fees for Technical Services
Authors: Dugar A. , Bhandari L.
Published: December 2023

This case note analyses the High Court decision in The Director of International Taxation Madras v. M/s. TVS Motors Co Ltd. Payment made by an Indian taxpayer to an Austrian company is classified as fees for technical services and accordingly taxable in Austria pursuant to the provisions of the Austria-India tax treaty.
The Use of Tax Loss Carry-Forwards in Brazil: Look, but Don’t Touch
Authors: Schoueri L.E. , Tersi V.F.
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 Brazil.
European Court of Justice – Recent Judgments and Pending Cases
Authors: Annacondia F. , Corput W. van der
Published: December 2023

In this overview, the editors provide a list of judgments of the Court
of Justice of the European Union (ECJ) and Opinions of the ECJ’s Advocates
General delivered in VAT cases in the past 12 months. The overview also
contains a list of the remaining cases pending before the ECJ on 31 August
2010, and a list of cases that have been removed from the ECJ’s register in the
past year. Summaries of the judgments, Opinions and preliminary questions that
have not yet been published are presented following the lists.
Permanent Establishments Claim Their Share of Profits: Does the Taxman Agree?
Authors: Malherbe J. , Daenen P.
Published: December 2023

In this article, the authors consider the theoretical background to the attribution of profits to permanent establishments in the light of the 2008 and the (proposed) 2010 versions of Art. 7 of the OECD Model Tax Convention and whether or not tax administrations worldwide will agree with the theory.
Automatic Exchange of Tax Information in the European Union – The Standard for the Future
Authors: Brodzka A.
Published: December 2023

This article analyses various perspectives regarding the future European standard for automatic exchange of tax information. It presents the legal framework for such information exchange within the European Union and discusses the influence of the US FATCA on the EU legal environment. Finally, it questions whether or not the international tax information exchange system, based on automatic transfer of data, can work effectively and whether the obstacles caused by differences amongst Member States can be overcome.
Observations on OECD
Discussion Draft on Business Restructuring: Is the Notion of Control over Risk
at Arm’s Length?
Authors: Musselli A. (Andrea) , Musselli A. (Alberto)
Published: December 2023

This article provides an analysis of the notion of control over risk
as explained in the excess inventory example included in the OECD Discussion
Draft on Transfer Pricing Aspects of Business Restructurings. It further
discusses why the allocation of risk depicted in that example should not be
regarded as at arm’s length.
The New Regulatory Framework in the European Union and the Role of the Independent Fiscal Authority
Authors: Lampreave P.
Published: December 2023

In this article, the author discusses the regulatory framework which amends the rules on the supervision of fiscal policy and incorporates economic good governance in the European Union, and describes the role and features of independent fiscal institutions acting as “fiscal watchdogs” in selected Member States.
Recent Amendments to Transfer Pricing Regulations
Authors: Patel V.T. , Pradhan Y.D.
Published: December 2023

The authors consider recent changes to Indian transfer pricing regulations and the implications thereof for taxpayers. Highlights include the introduction of an APA programme, applicability of transfer pricing regulations to certain domestic transactions and clarification of the definition of “international transaction”.
Daunting Fiscal and Political Challenges for US International Tax Reform
Authors: Shay S.E.
Published: December 2023

This article reviews fiscal and political challenges to agreement on US tax reform. Due to current US budget deficits, fiscal structure and political gridlock, the challenges to finding common ground on a broad tax reform or a separate international tax reform are daunting.
Opinion Statement ECJ-TF 1/2018 on the Compatibility of Limitation-on-Benefits Clauses with the EU Fundamental Freedoms
Authors: CFE ECJ Task Force
Published: December 2023

This Opinion Statement was prepared by the CFE ECJ Task Force and concerns the compatibility of limitation-on-benefits (LoB) clauses with the EU fundamental freedoms, based on decisions of the European Court of Justice (ECJ). The context of this statement is the Commission’s infringement procedure against the Netherlands with regard to the LoB clause in the Japan-Netherlands Income Tax Treaty (2010) and the inclusion of a simplified optional LoB clause in the BEPS Multilateral Instrument.
Exciting Times, but Business as Usual for the Judges
Authors: Endresen C.
Published: December 2023

In this article, the author examines how the rule of law affects the Norges Høyesterett (Norwegian Supreme Court) in deciding tax cases with reference to Norwegian, and EU and international, law, as well as the pronouncements of the OECD.
Tax treatment of employee stock option and share ownership plans in
Singapore
Authors: Lee F.H.
Published: December 2023

This article considers the tax treatment in Singapore of employee
stock option (ESOP) plans (in which qualifying employees are granted stock
options) and employee share ownership (ESOW) plans (in which qualifying
employees may own or purchase shares). After describing the main features of
the ESOP and ESOW plans, the article discusses, among other things, the various
types of ESOP incentive schemes (for small enterprises, for all corporations
and for start-ups) and the tax treatment of gains from employee stock options
and share ownership.
Are Turnover-Based Taxes a Suitable Way to Target Business Profits?
Authors: Stevanato D.
Published: December 2023

The comeback of turnover-based taxes raises several concerns. Although easier to ascertain than profits, revenue is a poor indicator of ability to pay, particularly when employed as a tax base for progressive levies. Size of turnover is hardly a ground for tax differentiation, not to mention the risk of double taxation and unequal treatment. Efforts to enact turnover taxes, such as the digital services tax envisaged by the European Commission, should therefore be carefully reassessed.
Taxation of Cross-Border Remote Work in Spain
Authors: Puerta Ruiz de Azúa  , Morales T.
Published: December 2023

This article analyses the tax implications of cross-border remote working in Spain, for both the person working remotely from Spain and their non-resident employer. It highlights the tax incentives that posted workers may apply, in particular under the recently approved Start-Up Law, and the potential taxation and withholding obligations of employers. The risks of double taxation and overlapping tax obligations caused by the lack of international regulation of the taxation of remote work are also assessed.
Recent Developments Concerning the Rules on the Transfer of Business Functions
Authors: Schneider M. (Markus)
Published: December 2023

This article considers recent developments in the much-debated German rules on the transfer of business functions, including the scope of application of the new “escape clause” introduced in Sec. 1 Para. 3, sentence 10 (second half sentence) of the Foreign Tax Act and the key aspects of the new Administration Principles – Business Restructurings published by the Ministry of Finance on 13 October 2010.
Should Goodwill Impairment Be Treated as a Tax-Deductible Expense?
Authors: Odar M. , Pate B.
Published: December 2023

In this note, the authors discuss goodwill impairment associated with an acquisition. In particular, they examine whether or not such impairment should be treated as an expense for corporate income tax purposes, especially in situations where tax is deferred (i.e. tax neutrality is applied) in accordance with the Merger Directive (2009/133).
The Netherlands-Switzerland Income Tax Treaty (2010) - An Analysis
Authors: Duvoisin E. , Moniez M.
Published: December 2023

The authors, in this article, analyse the new Netherlands-Switzerland Income Tax Treaty (2010), compare it with the old Netherlands-Switzerland Income and Capital Tax Treaty (1951/1966) and the OECD Model (2008), and provide insights regarding Swiss tax law and related developments. Netherlands domestic tax implications are generally not considered.
Mutual Assistance in the Collection of Taxes
Authors: Parker L. (Louise)
Published: December 2023

Increasing globalization and the growing mobility of taxpayers present new challenges for tax collection. In this article, the author assesses potential problems of the practical application of tax collection assistance provisions as well as their efficacy in curbing tax evasion.
Implementation of the Alternative Investment Fund Managers Directive (2011/61) into Luxembourg Law: A Full Legal and Tax Beneficial Package
Authors: Afakir J. , Dukmedjian P.R.
Published: December 2023

This article considers the measures that Luxembourg is to introduce in the context of the implementation of the Alternative Investment Fund Managers Directive (2011/61) with a view to reinforcing its attractiveness as a location for the fund industry.
Tax Treaties and Temporary Residence for Individuals: Tax Abuse? – Focus on the Rules in Australia, China (People’s Rep.) and Singapore in the Context of the Tax Treaties between These States and with India, Japan, Korea (Rep.) and the United Kingdom
Authors: Sharkey N.C.
Published: December 2023

The author, in this article, examines the topic of tax treaties and temporary residence for individuals under domestic laws in relation to three Asia-Pacific states and whether the resulting reduction in international tax liabilities at the expense of other states can be justified or constitutes tax abuse.
Do Tax Audits Contribute to Tax Revenue and Deter Tax Evasion? – An Exploratory Study of Tax Audits in Pakistan
Authors: Hassan B.
Published: December 2023

In this article, the author examines the contribution that tax audits make to direct tax collections and deterring tax evasion in Pakistan. From his empirical analysis of the number of audits performed, tax revenue collected and GDP data in the tax years from 2019/10 until 2015/16, the author concludes that tax audits have made a meagre contribution to direct tax collection and failed to deter tax evasion. The article offers a range of reasons for these shortcomings.
Country-by-Country Reporting
Authors: Wittendorff J.
Published: December 2023

On 18 December 2015, the Danish parliament approved Bill 46 of 10 November 2015, which introduces country-by-country reporting into Danish law and amends existing rules on transfer pricing documentation. This article reviews the new rules on CbC reporting and transfer pricing documentation.
Unilateral Withholding Tax To Counteract Base Erosion and Profit Shifting
Authors: Obermair G.M. , Jarass L.
Published: December 2023

This article discusses the authors’ proposal for a withholding tax on all interest and licence fee payments, devised such that it can be implemented unilaterally by individual Member States (such as Germany), as a means of counteracting tax evasion via low-tax regimes, a measure that, in contrast to implementation of the June 2015 Commission proposals, would not require EU unanimity.
Trends and Developments in Swiss Anti-Treaty Shopping Legislation and Treaty Shopping Case Law
Authors: Jung M.R.
Published: December 2023

The author highlights the trends and developments in Swiss anti-treaty shopping legislation and treaty shopping case law. He exposes the standard cases of improper use of tax treaties from a Swiss withholding tax perspective. He further analyses the relationship between unilateral anti-avoidance measures and treaty law and explores the scope and limits of the unilateral judicial tax avoidance and abuse of rights doctrines. He then analyses the recent case law of the Federal Tribunal and the Federal Administrative Court.