bluuebunny/crossref_metadata_2025 huggingface dataset:
Exploiting Form in Avoidance by International Tax Arbitrage – Arguments towards a Unifying Hypothesis of Taxation Law
Authors: Prebble J.
Published: December 2023

This article, which is based on the inaugural address given at the IBFD Tax Lecture Series in Beijing, China, examines the basic foundations and nature of income tax law before going on to offer a unifying theory of taxation law.
Permanent Establishment Profit Attribution: United Kingdom Courts Examine the ”Authorised OECD Approach”
Authors: Schwarz J.
Published: December 2023

The author, in this article, considers the implications of the functionally separate enterprise concept under the Authorised OECD Approach to the attribution of profits to permanent establishments with reference to tax treaties as analysed in two UK tax cases, Irish Bank Resolution (2017) and Bloomberg Inc (2018).
CUP Method: Could It Be a Reliable “Sanity Check” When the Arm’s Length Principle Is Verified Using a Transactional Profit Method?
Authors: Pozzi F. , Consalter L.
Published: December 2023

Automatic year’s end adjustments deriving from the application of the transactional net margin method could trigger under specific circumstances inconsistencies with the underlying transactions. The application of the transactional net margin method cannot disregard the price of the goods when the significant economic terms and conditions are substantially comparable, and, notwithstanding that the comparable uncontrolled price method does not satisfy all the conditions to be applied as most preferable transfer pricing method, it could improve the level of reliability of the transfer pricing analysis.
Turkish Perspective on OECD Action Plan on Base Erosion and Profit Shifting
Authors: Biçer R. , Erginay M.
Published: December 2023

The OECD Action Plan on Base Erosion and Profit Shifting (BEPS) is a focal point of international tax debate. Although there are now a limited number of countries taking action against BEPS arising from activities of multinational groups, the authors believe that many other developed and developing countries will do the same. This article examines the Action Plan from a Turkish perspective, focusing on the most relevant actions of the BEPS Action Plan to Turkey.
An Approach to BEPS Risk Assessment: Applying Data Analytics Techniques to Country-by-Country Reporting Data
Authors: Martinez Tapia J.M. , Jalan N.
Published: December 2023

This article discusses the application of data analytics techniques on data provided by multinationals in the country-by-country reporting to analyse, interpret and understand financial and other data with ease. Thus, it would provide a better understanding of multinationals’ global structures, economic activities and footprints to identify the material risk areas, thereby providing multinationals and tax authorities with a technique to undertake preliminary base erosion and profit shifting risk assessment. The authors have primarily relied on the tax risk indicators laid down in the OECD Handbook on Effective Tax Risk Assessment to build different stages of risk assessment. The possibility and the advantages of setting up a unified risk assessment tool based on the various risk assessment are also briefly discussed. The authors believe that such a tool, when publicly available, would enable different stakeholders to interpret the available data in country-by-country reporting more uniformly and requisite, timely action can be taken to address the identified risk areas.
Impact of the European Commission’s Common Consolidated Corporate Tax Base Proposals
Authors: Piot W. , Sigurdardottir B. , Rasch M.
Published: December 2023

After eight years of preparation, the European Commission released on 16 March 2011 its Proposal for a Council Directive on a Common Consolidated Corporate Tax Base. The proposed Directive would, on an optional basis, allow group companies to file a single tax return in a single Member State for all group members operating in the European Union. The International Transfer Pricing Journal features a comparative survey examining how this proposal has been received in various Member States, along with an outline prepared by Mr. Louan Verdoner. Country report on Luxembourg.
The Implications of the New German Investment Tax Regime on German and Non-German Fund Vehicles
Authors: Eckl P. , Berka D.
Published: December 2023

This article provides an overview of the new tax regime for investment funds in Germany, which has been in effect since 1 January 2018.
New Transfer Pricing Documentation Rules: Implementation of BEPS Action 13 Recommendations
Authors: Astuti M.D.
Published: December 2023

In this article, the author examines Indonesia’s newly implemented regulation on transfer pricing documentation requirements. The article explains that the regulation largely conforms with the recommendations in the OECD’s final report on BEPS Action 13, but also addresses the absence of a de minimis rule, differences with respect to the ultimate parent company filing concept and the obligation to file transfer pricing documentation placed on Indonesian parent companies in a multinational group, application of the secondary filing mechanism to Indonesian subsidiary companies, submission of transfer pricing documentation, Indonesia’s adoption of ex ante transfer pricing methodology, the compliance cost burden imposed on Indonesian businesses and challenges facing the Indonesian tax authority.
Redesigned Individual Income Tax Benefits of a "Start-Up Nation" on the Move
Authors: Fuchs-Grootscholten H.
Published: December 2023

The author, in this note, considers the tax benefits available for newly arriving and returning residents, which were re-designed in 2009 and are applicable retroactively to the 2007 tax year onwards.
Taxation of Multinational Enterprises in a Global Market: Moving to Corporate Tax 2.0?
Authors: Wilde M.F. de
Published: December 2023

How countries tax the profits of multinational enterprises has become hopelessly outdated. The recent OECD/G20 Base Erosion and Profit Shifting Project has left the existing international corporate taxation framework essentially intact. Perhaps it is time to consider a truly fundamental reform of corporate tax systems, i.e. Corporate Tax 2.0.
OECD Draft Guidelines on VAT/GST on Cross-Border Services
Authors: Lamensch M.
Published: December 2023

In this article, the author seeks to assess, on the basis of the Draft Guidelines and previous related consultations, the efforts undertaken at OECD level in addressing cross-border taxation of services and intangibles. The author briefly recalls the principles usually relied on to tax supplies in cross-border scenarios, and identifies the specific obstacles that taxation of services and intangibles may encounter and which are addressed by the Draft Guidelines. The author also gives some comments on the Draft Guidelines and on the role played by the OECD in the adoption of international tax rules and principles.
The End of Cost Sharing as We Know It?
Authors: Wolf R.
Published: December 2023

Two recent Opinions of the ECJ’s AG Kokott seem to herald the end of the cost sharing exemption as we know it. In her recent Opinions in Aviva and DNB Banka AG Kokott indeed endorses a limited scope of application for the exemption provided for in article 132(1)(f) of the VAT Directive. For many VAT practitioners, and also for Member States and the European Commission, this interpretation will come as a surprise. Moreover, in an even more recent Opinion in Commission v. Germany, AG Wathelet contradicts some of AG Kokott’s findings and instead advocates a broad scope for the exemption. It is now up to the ECJ to decide, but should the ECJ concur with AG Kokott, the current use of the cost sharing exemption is up for a thorough revision.
A Look Back at EU VAT Developments in 2019 Regarding Insurance and Financial Services: Part 2
Authors: Gamito P.
Published: December 2023

In the first part of this two-part article (published in the previous issue of the journal), the author provided some background and a detailed review of the 2019 case law of the ECJ in the area of insurance and financial services. He highlighted the main elements of clarifications provided by the ECJ in this field in the past year. In this second part of the article, the author focuses on the pending cases and on recent policy developments that might have an impact on the most expected reform of the EU VAT framework for insurance and financial services.
A Cross-Country Perspective on Beneficial Ownership – Part 1
Authors: Verdoner L. , Offermanns R. , Huibregtse S.B.
Published: December 2023

In this two-part article, the authors examine
the beneficial ownership concept through a review of the case law of various
countries. In Part 1, the history of the concept is outlined, as well as the
domestic treatment in Canada, France, Germany and the Netherlands.
Part 2 sets out
the domestic treatment in Switzerland and the United Kingdom and discusses
various economic considerations in regard to the concept.
Tax Treaty Interpretation in Germany: Utilizing the OECD’s New Approach to the Qualification of Income
Authors: Cloer A. , Sixdorf F.
Published: December 2023

The authors, in this note, present the decision of the Lower Fiscal Court of Berlin-Brandenburg in Case 15 K 1093/10 regarding the qualification of income for the purposes of applying tax treaties, including a discussion of its implications on tax treaty interpretation in Germany.
The New Tax Agreement between Switzerland and the United Kingdom – An Analysis
Authors: Carelli F.
Published: December 2023

In this article, the author analyses the Swiss-UK tax agreement concerning the tax regularization of future capital investment income and previously undeclared assets, signed and published on 6 October 2011.
Report on the Amsterdam Seminar of the Group for Research on European and International Taxation (GREIT)
Authors: Lozev K. , Gerzova L.
Published: December 2023

On 25 and 26 September 2009 the annual seminar of the Group for Research on European and International Taxation (GREIT) was held in Amsterdam. The main topic of this year’s seminar was “Traditional and alternative routes to European tax integration”, which was explored from the point of view of primary and secondary EC law, soft law, coordination and comitology. The seminar was chaired by Prof. Dennis Weber from the University of Amsterdam. This note summarizes the proceedings of the seminar.
Deadline is Approaching: Countdown for Tax Regularization
Authors: Carreño F.
Published: December 2023

The author, in this note, outlines the special tax regularization procedure that is available in Spain until 30 November 2012 in regard to undeclared assets and rights.
New Transfer Pricing Documentation Requirements and Country-by-Country Reporting
Authors: Mulyani Y.
Published: December 2023

A new Transfer Pricing Documentation Regulation was issued on 30 December 2016. The author provides insight into what motivated Indonesia to implement this new regulation, how it works and the outlook for the Indonesian transfer pricing regime.
The Impact of Article 9 of the OECD Model on German Taxation
Authors: Weiss M.
Published: December 2023

This article describes recent case law of the German Federal Tax Court on the relationship between article 9(1) of the OECD Model and German domestic tax law that demonstrates a clear trend towards denying income adjustments under domestic law pursuant to article 9(1). Taxpayers need to be aware of the impact of this provision, in particular, on the application of the transfer pricing rule, section 1 of the Foreign Transactions Tax Act, and on hidden distributions.
Tax Reform and its Effect on Tax Audits: The Example of Egypt
Authors: Abdellatif M.M.
Published: December 2023

The author considers the implications of tax reform for tax management and, in particular, tax audits, with reference to the position of Egypt. Specifically, he discusses the impact of the Income Tax Law of 2005 on tax audit practices in Egypt, which changed the philosophy and objectives of tax audits.
Scope of CbC Reporting and TP Documentation Requirements
Authors: Haq I.
Published: December 2023

Pakistan, in the wake of signing the Multilateral Convention on Mutual Administrative Tax Matters, has implemented BEPS Action 13 by making changes in the Income Tax Ordinance 2001 and the Income Tax Rules 2002. This article highlights the amendments made and explains the ensuing treatment of CbC reporting and TP documentation requirements.
Complications in Transfer Pricing Valuation and Indirect Tax
Valuation
Authors: Qiu T. , Ng J. (Janice)
Published: December 2023

In this article, the authors discuss the issues arising from the
inconsistencies in valuations for transfer pricing and indirect tax
purposes.
Why Is It So Difficult to Untangle the Knots in the Brazilian Tax Reform?
Authors: Oliveira P, Toledo Pires de
Published: December 2023

Brazilian consumption taxes are very complex. Currently, different levels of government can tax consumption, and several taxes coexist, each with its own rules. In this article, the author explains the many tax reform proposals that have been put forward to simplify existing taxes but faced difficulties in Congress. Opposing interests seem to have held them back from being adopted.
The Taxation of Philanthropy in Switzerland: Current Status and Suggestions for Improvement
Authors: Oberson X.
Published: December 2023

In this contribution, the author describes the current rules with regard to the taxation of philanthropic activities in Switzerland and makes various suggestions for improvements to the current regime. In this respect, the developments in EU law with regard to cross-border giving are also taken into account.
Effective
Corporate Income Tax Rates in an Enlarged European Union
Authors: Elschner C. , Vanborren W.
Published: December 2023

This article demonstrates that, in an EU context, the reduction in
effective average corporate tax rates was less than for statutory corporate
income tax rates. The article also reveals that the tax gap between the old and
new Member States has grown over time and even accelerated following
accession.
Effective EU Tax Collection: A Utopia?
Authors: Smitte P. van der
Published: December 2023

In this article, the author contends that the implementation of the EU
legal framework for mutual assistance in tax collection does not provide
satisfactory results.
Tax Treatment of Financial Market Transactions
Authors: Yáñez F. , Alvarez T.
Published: December 2023

The authors provide a general overview of the tax regime applicable to the most common financial instruments traded on the Chilean stock market by providing the key tax elements to be considered by local and foreign investors. An updated overview is also provided regarding the taxation applicable to Chilean securities and financial instruments.
Country-by-Country Reporting: Handbook on Effective Tax Risk Assessment
Authors: Silberztein C. , Le Naourès O.
Published: December 2023

On September 2017, the OECD released Country-by-Country Reporting: Handbook on Effective Tax Risk Assessment, which provides tax authorities with guidance on ways to incorporate information obtained under CbC reporting into their tax risk assessment processes, the types of tax risk indicators that may be identified using CbC reports, and the challenges that may arise in the process. In this article, the authors outline the key elements provided in this report, illustrate with a practical example how tax authorities may use CbC reporting information to supplement their existing tax risk assessment and discuss the consequences thereof.
Interpreting European Law in the Light of the OECD/G20 Base Erosion and Profit Shifting Action Plan
Authors: Schön W.
Published: December 2023

European law plays a major role in implementing the OECD/G20 BEPS Action Plan. This role influences the interpretation of primary and secondary European law, which the author concludes is not easy to defend as the fiscal purpose of the BEPS actions conflicts with the liberating forces of the European Union’s Internal Market.
The German Silent Partnership
Authors: Lipp M.
Published: December 2023

The author, in this note, provides a general overview of the taxation of silent partnerships in Germany. As an example of a hybrid financial instrument, silent partnerships reflect the traditional tax distinction between debt and equity. Their use can lead to double taxation or double non-taxation in a cross-border context and it is, therefore, necessary to examine them critically.
Draft Safe Harbour Rules Issued under Transfer Pricing Regulations
Authors: Patel V.T.
Published: December 2023

This article discusses the recently issued draft safe harbour rules and notes numerous issues that remain to be resolved or which need to be considered further before the rules are finalized.
Transfer Pricing Documentation Requirements in the United Arab Emirates for Multinational Enterprises
Authors: Hassan B.
Published: December 2023

On 30 April 2019, the United Arab Emirates introduced regulations governing country-by-country reporting requirements for multinational enterprises. In this article, the author discusses country-by-country reporting requirements, deadlines for submission of CbC reports to the Ministry of Finance and the mechanisms in place to enforce these regulations.
Back to the Future of VAT or Waiting for Godot?
Authors: Lejeune I.
Published: December 2023

In this column, the author questions whether the unpaid tax collectors would experience a high-quality “harmonized EU VAT system” if the Commission were able to adopt implementing measures approved by a qualified majority of Member States.
Partnerships
Authors: Lin Yishian
Published: December 2023

The author analyses the taxation of partnerships in Taiwan and their suitability as inbound investment structures by foreign investors. The proposed introduction of limited liability partnerships and the potential impact is also discussed.
The State of the Art in Comparability for Transfer Pricing
Authors: Fris P. , Gonnet S.
Published: December 2023

The past 15 years, and even more so the last 5 years, have shown a marked growth in popularity of the transactional net margin method. The increasing use of this method has led to a tendency towards reliance upon standardized benchmarking searches, at the expense of more comprehensive and economically sound approaches. Recent developments in transfer pricing show that this tendency may now come to an end.
A Small Fish in a Big Pond: The International Tax Options of Belgium
Authors: Vanistendael F.
Published: December 2023

In this article, the author discusses the international tax options of Belgium in light of the one-page tax reform proposal released on 26 April 2017 by US President Donald Trump.
The OECD’s Work on Profit Allocation and Nexus Rules for a Digitalized Economy – A Potential Improvement of the International Taxation Framework?
Authors: Postler S.
Published: December 2023

The digitalization of the economy has sparked a debate that may fundamentally change international taxation. The regulatory changes contemplated by the OECD/G20 Inclusive Framework would affect most industries and would change the global balance of taxing rights. This article analyses the proposed rules and their implications for taxpayers and tax authorities.
The French Crusade to Tax the Online Advertisement Business: Reflections on the French Google Case and the Newly Introduced Digital Services Tax
Authors: Michel B.
Published: December 2023

Following a brief analysis of Google’s online advertisement business and the legal structure under which Google operates this business, the author comments on the French Google court case and settlement, and the newly introduced digital services tax.
Casenote – Federal Court Denies Benefits of Tax Treaty to Limited
Partnership
Authors: Butler M. , Pengelly J.
Published: December 2023

This casenote analyses the Full Federal Court’s decision to deny tax
treaty benefits to a limited partnership and allowing an assessment to be made
on whether capital gains were applicable.
Tax Authorities Publish Draft Circular on Internet Activity of Foreign Companies
Authors: Rosensweig Y.
Published: December 2023

A recent draft circular issued by the Israeli tax authorities sets forth their views on the application of existing rules and tax treaty provisions in the ever-evolving digital economy.
R&D Cost
Sharing: The Xilinx Appeal
Authors: Gul Z. , Muylle R. , Keates H.A. , Wright D.R.
Published: December 2023

The United States Court of Appeals for the Ninth Circuit recently
issued its decision regarding the appeal by the IRS in the Xilinx case. This
article considers the case history, including the ruling of the Court of
Appeals in favour of the IRS. The authors also address the impact of this case
on tax litigation related to cost sharing arrangements, as well as future
prospects.
Systems of General Sales Taxation: Theory, Policy and Practice
Authors: Echevarría Zubeldia G.
Published: December 2023

Review of Systems of General Sales Taxation: Theory, Policy and Practice by Robert F. van Brederode (Wolters Kluwer Law & Business 2009), 365 pages.
Case Note: The Curious Case of Satyam Computers
Authors: Rao S. (Siddhesh)
Published: December 2023

This case note canvasses the recent decision of the Full Federal Court of Australia in Satyam Computer Services Limited v. Commissioner of Taxation, where the court applied the Australia-India income tax treaty to create a tax liability on royalties paid to a non-resident, which was not provided for in Australia’s domestic law. The author argues that tax treaties serve as a limitation on taxing liabilities: they allocate taxing rights rather than generate new tax liabilities. The author criticizes the court’s decision for failing to apply the doctrine that an income treaty acts as a shield and not a sword.
Digital Economy and Indirect Taxation: Developments in Brazilian Legislation
Authors: Castro D. Rod
Published: December 2023

In this article, the author discusses the indirect tax challenges of the digital economy through an assessment of the legislative initiatives related to the indirect taxation in Brazil, against the background of recent developments at the international and EU level. She offers her conclusions regarding the need for a tax reform in Brazil to tackle the digital sector.
Italian Supreme Court Clarifies Taxation of Capital Gains Effectively Connected to an Italian Permanent Establishment Arising from the Alienation of Immovable Properties in the State of Residence
Authors: Tenore M. , Arginelli P.
Published: December 2023

In this contribution, the authors report on an Italian Supreme Court decision that clarifies the taxation of capital gains effectively connected to an Italian permanent establishment but arising from the alienation of immovable property situated in the state of residence, under the Egypt-Italy Income Tax Treaty (1979).
Collecting Unpaid Tax Offshore: Caribbean Tax Havens and Foreign Direct
Investment in China
Authors: Qiu D.
Published: December 2023

This article discusses the increasingly strict tax measures
adopted by China to counter the widespread use of the British Virgin Islands
and the Cayman Islands to avoid tax in relation to offshore business since 2008
and recent developments in 2014.
New Intellectual Property Regime Embraces FinTech: Use of the New Innovation Income Deduction Regime in the Financial Services Industry
Authors: Ledure D. , Stocq J. , Dessy M. , Teichmann F.
Published: December 2023

Belgium introduced its innovation income deduction, a new intellectual property tax regime in line with the OECD “nexus approach”. This article provides an overview of the regime and comments on how the measure will likely be used by players in the Financial Services Industry as catalyst of their ongoing transformation.
From 20th Century Atlantic-Centric History to the 21st Century Pacific
World?
Authors: Dickinson F.
Published: December 2023

In this Editorial, the Managing Editor of the Bulletin
for International Taxation considers the changes that have occurred in
the world over the last 100 years and muses on the significance of the fact
that the 2014 International Fiscal Association Congress is being held in
Mumbai, India.
Cherry-Picking Dutch Court on the Offense against Tax Avoidance
Authors: Cattel Y.C. , Wilming L.
Published: December 2023

In this article, the authors discuss recent Dutch case law on the Dutch dividend withholding tax exemption, which is the Dutch implementation of the Parent-Subsidiary Directive’s anti-abuse provision. In the authors’ view, the court shifts the demarcation line between the use and abuse of law in a direction not meant by the ECJ.
Extending the Singapore Goods and Services Tax to Imports of Services
Authors: Poh E.
Published: December 2023

The Singapore Minister for Finance announced in his recent 2018 Budget Statement that the scope of Singapore’s goods and services tax (GST) will be extended to cover imports of services with effect from 1 January 2020. In this article, the author provides an outline and commentary on the proposals arising from the announcement.
Central Procurement Operating Models in a Multinational Group
Authors: Zenha Rella C.
Published: December 2023

This article analyses the transfer pricing considerations in relation to a central procurement operating model, in line with the OECD Transfer Pricing Guidelines (2017) and the recommendations from the OECD’s Base Erosion and Profit Shifting (BEPS) Project. The analysis also addresses the arm’s length approach to allocate joint efficiencies within a multinational group. It furthermore takes into account the specific court cases and subsequent transfer pricing decrees in the Netherlands related to these central procurement structures.
Transfer Pricing for Sub-Saharan African Countries
Authors: Reinfeld T. , Marwei H.
Published: December 2023

This article highlights the current transfer pricing issues with specific focus on sub-Saharan African countries. It discusses the challenges faced by those countries with respect to transfer pricing and the recommendations thereof.
The Protection of Individual Taxpayer Rights Regarding Exchange of Information on Request in the European Union
Authors: Zagà S.
Published: December 2023

In this article, the author critically reviews the solution envisaged by the ECJ in État luxembourgeois, a case regarding exchange of information on request proceedings that are deemed to be “arbitrary and disproportionate”. The article explores the differences and implications of immediate and deferred legal remedies in light of the need to ensure a “fair” balance between individual interests and the public interest to fight against international tax avoidance, evasion and fraud.
Dutch Court of Appeal Denies Interest Deductibility on Convertible Loan in Private Equity Acquisition Structure
Authors: Bruggeman J. (Jeroen) , Voort L. van der
Published: December 2023

The authors discuss a recent judgment passed by the Amsterdam Court of Appeal on the deductibility of interest expenses incurred by a Dutch acquisition vehicle in respect of a convertible shareholder loan. The case relates to the acquisition of a Dutch clothing chain by a French private equity firm. The Court of Appeal considered the interest expenses to be non-deductible under the abuse of law concept.
The Commentary on Article 5 – The Changes and Their Significance
Authors: Kana L. , Merwe R. van der
Published: December 2023

In this article, the authors present the background to, and make comments on, the changes introduced into the Commentary on Article 5 of the UN Model (2011), with special emphasis on the evolution of the discussions on these changes.
Tribunal Rules that Transfer Pricing Provisions Are Not Applicable to Guarantees if No Costs Are Incurred
Authors: Raj Kumar Jhabakh P.
Published: December 2023

This article discusses the recent judgment of the Delhi Bench of the Income Tax Appellate Tribunal in the Bharti Airtel Ltd case, wherein it was held that corporate guarantees provided by a company to its associated enterprises do not have any impact on the profits, income, losses or assets of a company, and therefore the transfer pricing provisions are not applicable.
Key Amendments to Slovak Tax Legislation
Authors: Ďurajka Branislav , Blažejová Z.
Published: December 2023

This note outlines recent legislative developments in the Slovak
Republic, in particular, an increase in the corporate income tax rate, the
introduction of a special levy for businesses in regulated industries and a
return to progressive taxation of the income of individuals through the
introduction of a second tax bracket.
Fowler v. HMRC and the Murky Waters of Treaty Interpretation
Authors: Jupp A. , Atkinson J. (Joshua)
Published: December 2023

Fowler v. HMRC (2018), a case concerning a diver’s employment tax affairs, has highlighted fundamental differences of view in the interpretation of tax treaties. The article assesses the three court decisions regarding the case at the time of writing and considers what effect they may have for treaty interpretation.
The Implementation of VAT in Angola
Authors: Lobo C. , Bobos-Radu D.
Published: December 2023

Following the winds of change of the new presidency and the IMF’s recommendations, Angola is the last country in the Southern African Development Community to implement a VAT system. The main objective behind this new tax is a diversification of the country’s revenue with a view to achieve macroeconomic stability. In this article, the authors summarize the main features of the new Angolan VAT system and highlight the challenges faced by its implementation.
Commission
Authors: Valério C. , Xygka A.
Published: December 2023

This overview highlights the Commission’s (i) proposal to simplify withholding tax reclaim procedures and opening of a feedback period; (ii) proposal to support social economy, including through tax exemptions and tax incentives; (iii) call on Cyprus to comply with EU VAT reduced rates on dwellings; and (iv) approval of the reintroduction of Bulgarian scheme to support investments by SMEs in high-unemployment areas.
The International Tax Regime at 100: Reflections on the OECD's BEPS Project
Authors: Avi-Yonah R.S.
Published: December 2023

This article will consider the outcome of Pillars One and Two in light of the history of international taxation since the foundation of the international tax regime. It will consider how Pillar One avoids the PE requirement, and the ways in which Pillar Two implements the single tax principle.
Amendment Transfer Pricing Adjustment Provision Announcement 9 December 2021
Authors: Pankakoski K.
Published: December 2023

The Finnish parliament approved an amendment to the legislation on transfer pricing adjustment on 9 December 2022. The legislative change entered into force on 1 January 2022. The amendment to the legislation is proposed to clarify the regulation concerning the national transfer pricing adjustment provisions. The amendment to legislation concerning the new subsections 2 and 3 of section 31 of the Act on Assessment Procedure (AAP) allows the tax administration to adjust a related-party transaction according to its factual substance and to disregard the transaction in exceptional circumstances. The legislative change thus clarifies the scope of the regulation. It has also broadened the scope of the national arm’s length principle contained in section 31(1) of the AAP. The change in legislation thus has an actual impact on the legal state compared with the previous decision-making practice of the Supreme Administrative Court from 2014 to 2021.
2011 Amendments to the Slovak Income Tax Act
Authors: Ciran T. , Blazejova Z.
Published: December 2023

In this note, the authors outline recent amendments to the Slovak Income Tax Act including changes, inter alia, to tax-free allowances for individuals, tax allowances applicable to specified types of income, travel allowances, the principal residence exemption, the lump-sum expense deduction, tax incentives and exemptions, the deductibility of foreign VAT and the new tax on greenhouse gas emission allowances.
The 2023 Tax Reform Package
Authors: Eckl P. , Nostitz M. , Wachauf-Tautermann A.
Published: December 2023

In this article, the authors provide an overview of key measures of the Tax Reform Act 2023, including, inter alia: interest deduction limitations, such as the interest-barrier rule and the interest rate limitation; new depreciation rules; amendments to the tax loss utilization rules; an amendment regarding the taxation of retained earnings; the new corporate tax option for partnerships; measures to promote investment in renewable energies and the new investment premium for climate protection.
Transfer Pricing and Customs Valuation – Emerging Trends!
Authors: Vaidya K. , Supekar D.
Published: December 2023

The mismatch between transfer pricing and customs valuation rules in
intercompany transaction is of growing concern. This article looks at the
situation in India while explaining how taxpayers may align the two
issues.
VAT Treatment of the Sharing Economy
Authors: Matesanz F.
Published: December 2023

The sharing economy is experiencing a huge growth, which is putting the world’s tax systems to the test. The implications of the sharing economy in the field of VAT can become extremely complex, especially when it comes to international transactions. In this article, the author provides his view about the qualification for VAT purposes of the underlying suppliers acting in the sharing economy as well as the role of the platforms facilitating the supplies of goods and services.
OECD Publishes Revised Guidelines on Transfer Pricing, Accommodating 15
Years of Juggling the Arm’s Length Principle in a Globalizing Business
World
Authors: Verlinden I. , Dykes I. , Casley A. , Stone G. , Katz A. , Finch E. , Thomas R. , Houseman N. , Ross A. , de Preter L. , Mitra R. , Diepstraten M. , Mondelaers Y.
Published: December 2023

The OECD has now approved the proposed revisions to Chaps. I through
III of the Transfer Pricing Guidelines for Multinational Enterprises and Tax
Authorities. The revised text results in major changes to the OECD's authorized
approach, which will have a significant impact on the application of transfer
pricing analysis in many parts of the world. In addition, the OECD has
simultaneously published a new Chap. IX to the Transfer Pricing Guidelines
related to business restructuring. The revisions to Chaps. I through III are
the result of several years of work on comparability in general and the use of
profit-based methods in particular. Consequently the significant changes are
broadly as expected, but there are some developments on more detailed points
that have arisen over the last few months. Like the Transfer Pricing Guidelines
as a whole, the new Chap. IX reflects the OECD's desire to clarify the
application of Art. 9 of the OECD Model Tax Convention when applied to complex
real-life situations.
Opinion Statement of the CFE on the Distinction between Taxable and VAT Exempt Letting of Immovable Property
Authors: Confédération Fiscale Européenne
Published: December 2023

This is an Opinion Statement prepared by the Fiscal Committee of the Confédération Fiscale Européenne (CFE). The CFE is the leading European association of 32 national tax advisory organisations representing over 180,000 tax advisers.
The IRS Bifurcates Many Swaps with Non-Periodic Payments
Authors: Carman P.
Published: December 2023

The author considers temporary and proposed regulations that would
cause many swap transactions to be treated for US tax purposes as a swap
combined with a loan.
The Implementation of the Controlled Foreign Company Rules in the EU Anti-Tax Avoidance Directive in Finland, Luxembourg and the Netherlands – The Effects on the Holding Company Structures of Finnish Groups
Authors: Tokola A.
Published: December 2023

In this article, the author considers the implications of the implementation of the controlled foreign company rules in the EU Anti-Tax Avoidance Directive (2016/1164) in Finland, Luxembourg and the Netherlands, with special emphasis on the effects regarding the holding company structures of Finnish groups.
Financing Activities: Hybrid Mismatches and the Tax Deductibility of Interest in Spain
Authors: López Ribas S.
Published: December 2023

This article discusses the provisions of the Spanish Ley del Impuesto sobre Sociedades (Corporate Income Tax Law) regarding the tax deductibility of interest and the neutralization of the tax effects of hybrid instruments. In doing so, both domestic rules and the recommendations of the OECD and European Union are considered.
Opinion Statement FC 2/2014 of the CFE: Comments on the OECD Discussion
Draft on Transfer Pricing Documentation and Country-by-Country
Reporting
Authors: CFE Fiscal Committee
Published: December 2023

This is an Opinion Statement prepared by the CFE Fiscal Committee on
the OECD Discussion Draft on Transfer Pricing Documentation and
Country-by-Country Reporting and submitted to the OECD in March 2014.
Structuring inbound investments
Authors: Ahmed M.M.
Published: December 2023

The author provides an overview of the legal and regulatory framework,
investment incentives and tax considerations for inbound foreign investments
into Bangladesh.
Tax Treatment of Financial Market Transactions
Authors: Castro Arango J.M. , Salcedo-Younes R.Y. , Tellez-Peñarete L.E.
Published: December 2023

The tax regime applicable to financial products traded on the Colombian stock market seeks to promote and foster the growth of that market through tax benefits. However, the lack of systematic rules gives rise to some interpretative issues involving risks for transactions. Moreover, the adoption of existing standards for information exchange poses enormous burdens for Colombian financial institutions.
Tax Issues in Consensual Debt Restructuring
Authors: Daniel-Mayeur V.
Published: December 2023

The author sets out the key French corporate income tax issues in respect of consensual debt restructurings. Debtors and creditors may be faced with material tax consequences in the case of a debt waiver, debt transfer, conversion of debt into equity or debt buy-back, so that such transactions may require appropriate structuring so as to mitigate potential tax issues.
Introduction of the Principal Purpose Test and Discretionary Benefits Provisions into Singapore’s Tax Treaties: Not as Black as It Is Painted
Authors: Kuźniacki B.
Published: December 2023

This comprehensive two-part article addresses the manner in which, and the possible reasons why, Singapore adopted the principal purpose test (PPT) and the discretionary benefits provisions in the OECD’s Multilateral Instrument (MLI), and the potential consequences of that decision. Part 1 of the article focuses on the reasons for, and manner of, introducing the PPT while Part 2 examines the potential consequences, with specific reference to channelling highly mobile income to tax havens via Singapore. The author argues that Singapore’s introduction of the PPT is unlikely to deter foreign direct investment and jeopardize the country’s current attractive business and tax-competitive position. Rather, the way that Singapore introduced the PPT – by way of the MLI together with the discretionary benefits provision – appears to be in line with its policy of granting tax benefits (including treaty benefits) using the tax authority’s broad discretionary powers and deploying a purposive approach to interpretation of the law.
Is China Internationally Tax Competitive?
Authors: Chen C.H.
Published: December 2023

Foreign-invested enterprises (FIEs) minimize their tax burden through transfer pricing or the use of lower-tax jurisdictions. Tax incentives are generally not sufficient to attract major flows of investment. China is not a low-tax country, but rather a recipient of substantial foreign direct investment (FDI) inflows. The author examines whether this affects China’s international tax competitiveness.
The Phenomenon of VAT Groups under EU Law and Their VAT-Saving Aspects
Authors: Swinkels J.J.P.
Published: December 2023

What started as the principle that Germany should be enabled to maintain its doctrine of Organschaft, i.e. introduction of VAT grouping, has developed into a complex feature of the EU VAT system, which is being abused by the Member States and by businesses for purposes that are not compatible with the principles of the Community. In 1997, the then 15 Member States did not accept the Commission’s proposal to abolish VAT grouping or limit its scope to members that are entitled to full deduction of input tax. They may, however, reconsider that position if the ECJ would force them to apply the VAT grouping arrangements Unionwide.
Finance Act 2016 – A Shot in the Arm for India’s Finance Sector
Authors: Mithe A. , Padhi S.
Published: December 2023

This article discusses tax and regulatory reforms in India’s financial sector, arising from the government’s 2016 Budget and subsequent legislation, particularly relating to taxation of gains on the transfer of securities and the impact of the changes on investment funds and securitization. The authors also address the newly introduced Insolvency Code and highlight areas still requiring reform.
The German UBO Register: Extended Transparency Rules for Foreign Entities Directly or Indirectly Owning German Real Estate Reporting Their Ultimate Beneficial Owners
Authors: Full M. , Broemel K. , Lorenz K. , Reisner F-J. , Sturm S.
Published: December 2023

This article considers the implications of the extended transparency rules for foreign entities directly or indirectly owning German real estate to report their ultimate beneficial owner (UBO) to the German UBO Register.
EU Code of Conduct – From Reviewing Individual Tax Regimes to Developing Horizontal Policy: Cracking the Code in the BEPS Era
Authors: Kalloe V.
Published: December 2023

The author, in this article, chronicles the history of the work of the Council’s EU Code of Conduct Group, which was originally mandated to fight individual harmful tax practices but whose work has been gradually extended to developing coordinated horizontal tax policy to fight base erosion and profit shifting.
Capital Gains Tax Resumed
Authors: Wong M. (Michael) , Lee D. (Dennis)
Published: December 2023

The Taiwan Legislative Yuan passed in July 2012 amendments to the Income Tax Act and Income Basic Tax Act which will effectively resume capital gains tax on security transactions starting 2013. The last time Taiwan taxed on such capital gains was in 1989 and it lasted only a year. This article describes the impact the resumed capital gains tax will have on investors.
Constitutional Court Lambastes 1998 Penalty Regime
Authors: Attard R.
Published: December 2023

The decision of the Constitutional Court in Farrugia Anthony P v. Prime Minister Et (2017), wherein it was determined that the 1998 tax penalty regime created an excessive burden on taxpayers, has resulted in a significant abatement of interest and penalties. The author, in this note, comments on the impact of the decision.
Cross-Border Tax Recovery Assistance and the Fundamental Rights of the Tax Debtor
Authors: De Troyer I.
Published: December 2023

Administrative arrangements for cross-border tax recovery assistance generally focus on ensuring and facilitating the recovery of taxes in an international context. ECJ case law, although limited in this area, confirms the need to focus on legal protection of the fundamental rights of tax debtors. This note describes how this principle may influence the use of the EU Mutual Assistance Recovery Directive (2010/24), as well as other legal instruments for tax recovery assistance.
Decree on Submitting Transfer Pricing Data
Authors: Díaz Tong E. , Arenas Alvarado
Published: December 2023

A Decree was issued that sets forth requirements regarding the submission of transfer pricing declarations and transfer pricing documentation.
Direct Tax Treatment of Greenhouse Gas Emission Allowances within the European Union
Authors: Cracea A.
Published: December 2023

The author, in this article, discusses the direct domestic tax and tax treaty issues surrounding the trading of greenhouse gas emission allowances between companies within the European Union under the Emissions Trading System.
The Present State and Future Prospects of China’s International Tax Administrative Litigation System
Authors: Chen J. (Jingxian)
Published: December 2023

In this article, the author analyses China’s international tax administrative litigation system and offers suggestions for its possible improvement.
Parafiscal Taxes: Are They Compatible with EU Tax Law and the Fundamental Freedoms?
Authors: Dafnomilis V.I.
Published: December 2023

This article reviews and comments on the case law of the European Court of Justice concerning parafiscal taxes in conjunction with the fundamental freedoms using a case study on advertising fees as an example.
Argentina’s Journey to a Digital VAT
Authors: Milessi Jimena
Published: December 2023

In this article, the author examines Argentina’s efforts to tax nonresident digital companies.
Corporate Loss Utilization through Aggressive Tax Planning
Authors: Monsenego J. (Jérôme)
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 Sweden.
Taxation of Virtual Digital Assets
Authors: Jalan N.
Published: December 2023

Crypto-related transactions and their regulatory and tax implications have become a prominent topic of discussion. In respect of India, the author takes a look at the relevant existing legislation and its effectiveness especially as the adoption of cryptocurrency and other virtual digital assets is increasing across different sectors.
Which Method to Use for the Valuation of Football Players’ Image Rights?
Authors: Navarro A.
Published: December 2023

In this article, a series of decisions by the Spanish National Court concerning the allocation of image rights’ returns of certain football – FC Barcelona – players are critically examined. The exploitation of such image rights was conferred to entities owned by the very players; hence transfer pricing regulations were triggered. The cases touch upon several relevant transfer pricing topics, such as the choice of the most appropriate transfer pricing method to value the remuneration the players should obtain, the nature of the functions performed by the entities that exploited such image rights, or the consideration of the image rights as hard-to-value intangibles.
Pro Rata Deduction by Entities Established in Several VAT Jurisdictions
Authors: Bjerregaard Eskildsen C.
Published: December 2023

The principles for determining proportional deduction of VAT (pro rata) by legal entities that are established in more than one VAT jurisdiction give rise to uncertainty under EU law. More specifically, the issue is whether the pro rata in each VAT jurisdiction where the entity is established must be calculated on the basis of the entity’s total (Unionwide or worldwide) turnover or on the basis of turnover that is derived by the part of the legal entity that is established in the VAT jurisdiction in question. The ECJ is to answer that question and related questions in Société Le Crédit Lyonnais. In this article, the author discusses various aspects of the issue.
EU Directive on Exchange of Information about Advance Rulings Implemented in Legislation
Authors: Betten R.
Published: December 2023

By an act of 21 December 2016, the Netherlands has implemented EU Directive 2015/2376/EU regarding the automatic exchange of information about rulings. The legislation has been in force since 1 January 2017. This article sets out the workings of this automatic exchange of information about rulings and the published experiences with it so far.