bluuebunny/crossref_metadata_2025 huggingface dataset:
EU VAT in the Digital Age
Authors: Wille P.
Published: December 2023

In this Column, the author focuses on one of the three objectives of the VAT in the Digital Age package that the European Commission adopted on 8 December 2022, which is modernizing the VAT reporting obligations.
A Human-Free Structure – A “Fixed Establishment” under EU VAT?
Authors: Mediratta N.
Published: December 2023

In this article, the author analyses how the fixed establishment (FE) concept, under the VAT place of supply rules, may lead to issues, including jurisdictional ones, when businesses can possibly use human-free structures. The author concludes that the current definition can accommodate the changing ways of doing business involving human-free structures, provided that a dynamic and pragmatic interpretation is applied. Such an interpretation may contradict Berkholz (Case C-168/84) but may be necessary considering the current FE definition and business realities.
Dealing with Debt
Authors: Yun S.R. , Ahn S-J. , Hong J.
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.
Court Ruling on De Facto Control in International Transactions
Authors: Raj Kumar Jhabakh P.
Published: December 2023

This article considers the recent ruling of the Income Tax Appellate Tribunal in the Diageo case, which is especially notable as the first instance in which an Indian court has expounded on the meaning of the term “associated enterprise” and has laid down what to apply as the true test for determining an associated enterprise.
The New Definition of Financial Intermediaries under Italian Tax Law Following the Implementation of the Anti-Tax Avoidance Directives
Authors: Frescurato D.
Published: December 2023

In this article, the author scrutinizes the new definition of “financial intermediaries” adopted for Italian tax purposes against the background of recent EU and international initiatives that deal with the exclusion of financial entities from general interest limitation rules, namely Action 4 of the BEPS Project and article 4 of ATAD 1. In doing so, the author highlights that the perspective adopted under Italian tax law could give rise to EU law issues.
Ministry of Finance Releases New Draft Transfer Pricing Law
Authors: Hansen H. , Radzhabov R.
Published: December 2023

On 30 October 2009, the Ministry of Finance released the long awaited updated version of the transfer pricing draft law. As the chances of actually achieving transfer pricing reform this time around are much higher than in the past, the authors analyse the Draft Law in more detail and set out the main implications and the work that will be required to be undertaken by taxpayers.
The New Era of EU Customs Legislation
Authors: Bal A.
Published: December 2023

In this note, the author highlights important aspects of the new Union Customs Code including, inter alia, the inclusion of royalties and licence fees in the customs value, the first-sale principle, customs procedures, the Binding Tariff Information, the authorized economic operator and the provision of guarantees.
New Transfer Pricing Regulations and Recent Audit Activities
Authors: Nguyen P.T.
Published: December 2023

The author examines a number of aspects of Vietnam’s existing transfer pricing rules, highlighting new changes and compares such changes with the OECD Transfer Pricing Guidelines. The article focuses on the applicable scope of the transfer pricing rules, the selection and application of transfer pricing methods and the arm’s length range and documentation requirements.
The Impact of Brexit on Taxation in the Financial Services Sector
Authors: Feller Z.
Published: December 2023

This article considers the UK taxes which are currently influenced by membership of the European Union, the potential models for Brexit and how the different exit models will change taxes affecting the sector. It considers both the expected impact on the Exchequer and how this may influence policy-making at a broader level.
Pillar 1 of the Inclusive Framework’s Work Programme: The Effect on the Taxation of the Digital Economy and Reallocation of Taxing Rights
Authors: Greil S. , Wargowske L.
Published: December 2023

This article considers the challenges of the digital economy and the “Programme of Work” under the Inclusive Framework in respect of the OECD/G20 Base Erosion and Profit Shifting initiative. It focuses on the reallocation of taxing rights (“Pillar 1”) and the three methods with regard to the new nexus.
Recent Tax Cases of the European Court of Human Rights
Authors: Baker P.
Published: December 2023

This article discusses recent cases concerning the right to silence/freedom from self-incrimination in tax matters, and the need for full disclosure of evidence by revenue authorities in penalty cases. It also discusses cases on penalties fixed as a percentage of the tax underpaid, the removal of the suspension of limitation periods, and compensation to taxpayers for the breach of their Convention rights.
The Cameco Decision: A Welcome Glimpse of Transfer Pricing in the Post-BEPS World
Authors: Mao Y. , Gotfried A.
Published: December 2023

This article contrasts a recent transfer pricing decision of the Tax Court of Canada with the principles set out in the OECD’s Base Erosion and Profit Shifting (BEPS) Actions 8-10. The court decision confirmed the importance of selecting controlled transactions for review with care and precision, emphasized the contractual relationships between associated entities when determining the correct allocation of risk and affirmed the primacy of traditional transfer pricing methods, particularly the CUP method, over the transactional profit methods.
Dealing with Debt
Authors: Widyatmoko W. , Fachri M. , Partogi 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.
Structuring Inbound Investments
Authors: Lin Y. (Yishian) , Hsu A.
Published: December 2023

This article provides an introduction of the key tax and non-tax considerations for foreign investors looking to do business in Taiwan. Topics covered include emerging industries in Taiwan, promoted business activities, tax incentives, legal business forms and international tax considerations.
The Case(s) of Zero Rating and the Tax Authority’s Powers to Specify Conditions for Relief
Authors: Koh S.H.
Published: December 2023

In this Column, the author analyses a recent Singapore High Court case which dealt with the issue of zero rating and the powers of the Inland Revenue Authority to impose zero rating conditions in order for the traders to enjoy zero rating relief for export supplies.
Developments in Tax Accounting
Authors: Magliocco Antonella , Sanelli Alessandra
Published: December 2023

Italy has traditionally adopted a "dependency" approach to tax
accounting. The 2003 corporation law and tax reforms removed problems between
accounting and tax rules. In 2005, Italy implemented International Accounting
Standards (IAS)/International Financial Reporting Standards for the financial
accounts of large taxpayers. At this stage, an attempt was made to safeguard
neutrality between IAS and non-IAS taxpayers. Administrative difficulties,
however, soon led to new provisions, introducing a dual system for IAS and
non-IAS taxpayers, recognizing the relevance of "substance over form" and
enhancing "dependency".
Tax Technology in the Field of Financial Transactions Transfer Pricing
Authors: Łukosz K. , Wijnberg E. , Daams N.
Published: December 2023

The publication of Chapter X of the OECD Guidelines increased the focus of tax authorities on intercompany financial transactions as part of tax audits. This article explores the challenges multinational enterprises face when conducting the transfer pricing analysis of intercompany loans. Additionally, it presents how technology can support in the preparation of robust financial transaction transfer pricing analyses and respective documentation. This article presents a technology solution for financial transactions transfer pricing, which provides for cost savings, increased efficiencies, improved consistency and freeing up resources for more high-value adding tasks.
Federal Supreme Court on Treatment of Exchange Differences and Environment for Internal Group Financing Improved
Authors: Huber M.F. , Duvoisin E.
Published: December 2023

In this article, the authors analyse two recent and important developments with regard to international corporate tax in Switzerland, namely, the Federal Supreme Court’s decision on the accounting and tax treatment of exchange differences and the improvements to the fiscal environment in respect of internal group financing.
2021 WU Global Transfer Pricing Conference: “Transfer Pricing Developments around the World”
Authors: Scuderi E. , Holzinger R.
Published: December 2023

This article highlights key points discussed during the 2021 WU Global Transfer Pricing Conference “Transfer Pricing Developments around the World 2021”, organized by the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business), and summarizes the topics analysed during the eight sessions of the event.
Effectiveness of EU VAT Treatment of Charities
Authors: Hemels S.
Published: December 2023

Charities as such are not mentioned in the VAT Directive. However, the Directive contains “exemptions for certain activities in the public interest” and most of those activities are deemed charitable in many Member States, such as activities in the framework of medical care, welfare and social security work, education, religion, sports, and culture. In this article, the author gives an overview of the legal history of the EU VAT exemptions and discusses the position of charities whose activities may be within or outside the scope of VAT. In view of the ineffectiveness and inefficiency of these VAT exemptions, the author discusses alternative approaches, and points to developments that may affect the VAT position of charities in the future.
Understanding the Role of Data in Data-Driven Business Models from a Transfer Pricing Perspective
Authors: Schwarz C. , Stein S. , Freudenberg M.
Published: December 2023

The importance of data for (digital) business models is also from a transfer pricing perspective of great interest. In this article, the authors provide established frameworks to understand the individual role and quality of data for (digital) business models.
Cross-Border Intra-Group Financial Transactions: Evidence from Germany
Authors: Greil S. , Schilling D.
Published: December 2023

Literature provides evidence of profit shifting in multinational enterprises (MNEs), particularly with intercompany debt. Therefore, the authors conducted a broad empirical survey focusing on specific issues regarding cross-border intra-group financial transactions. This article aims to analyse empirical evidence of the behaviour of MNEs in Germany with regard to cross-border intra-group financial transactions, and introduces and evaluates the respective empirical results in order to provide the first significant insights regarding this (not only) tax-relevant issue.
The New China-New Zealand Income Tax Treaty (2019) – How Does It Shape Up Following the BEPS Project and the MLI?
Authors: Smith A.M.C.
Published: December 2023

The new China-New Zealand Income Tax Treaty (2019) is the first tax treaty that New Zealand has negotiated since accessing the MLI (or Multilateral Instrument). This article reviews the new tax treaty, noting the influence of the MLI, especially given the Chinese reservations to the Multilateral Instrument.
Transfer Pricing in the Caribbean: An Assessment of Jamaica’s Transfer Pricing Regulations
Authors: Rodulfo C.
Published: December 2023

As the global economy continues to expand and advance, the markets of small island developing states like those of the Caribbean Community (CARICOM) persistently experience stagnated levels of growth due to inadequate resources and policy development. While the CARICOM Single Market and Economy was established in 1989 with the goal of enhancing economic resilience, much of the taxation landscape of CARICOM has remained largely underdeveloped. This is exemplified by the fact that Jamaica is the only CARICOM member state that has enacted comprehensive legislation for transfer pricing. This article will discuss the contents of Jamaica’s regulations for transfer pricing legislation and compare them to the provisions implemented in other States. After that, there is further discourse as to why there is a need for other CARICOM Member States to implement provisions for transfer pricing.
The Impact of Location Advantages on the Transfer Pricing of
Multinationals: On the Chinese Love for European Designer Handbags and Lower
Production Costs in India
Authors: Lange M.A. , Lankhorst P.W.H.
Published: December 2023

The authors discuss the impact of location advantages on the transfer
pricing of multinationals. Specific guidance from the OECD and United Nations
on location advantages is considered, followed by a discussion of two
international tax cases. The current practice on location advantages and
transfer pricing in the Netherlands and in China, as examples, is also
examined.
Reform of Section 8c of the Corporate Tax Act – Use of Tax Loss Carry-Forwards Significantly Improved
Authors: Moser T. , Hentschel S.
Published: December 2023

In this note, the authors discuss recent changes in respect of limitations on corporate loss carry-forwards and their implications on German corporate tax planning.
Thin Capitalization and Secondary Adjustments
Authors: Siregar N. , Tambunan E.U.
Published: December 2023

This article discusses the issues of thin capitalization and secondary
adjustments in relation to the transfer pricing of intra-group lending
transactions. The article focuses on the Director General of Taxation’s
guidelines for handling transfer pricing cases, known as Circular Letter
SE-04/PJ.7/1993 and its application in recent tax court cases.
Transfer Pricing Treatment of a Business Restructuring from a Danish and
German Perspective
Authors: Lindholm P. , Richter C.
Published: December 2023

Denmark has introduced valuation guidelines and Germany has
implemented transfer pricing rules which are relevant in business
restructurings. Although in both countries the focus is on the transfer of
intellectual property, there are differences, specifically reflected in the
valuation approaches.
Transfer Pricing Valuation Methodologies in Times of Economic Downturn: Differences between Market and Income Approaches
Authors: Bellini  , Iervolino R. , Latino M.C.
Published: December 2023

Transfer pricing methodologies based on market evidence are directly affected by economic circumstances and consequently, in times of economic downturn, the use of such valuation techniques could have a direct impact on the output of the appraisal. On the other hand, in a time of economic crisis, the use of transfer pricing methodologies based on cash flow could harden the negative effects of the market worsening since the latter are indirectly embodied in key parameters. This article compares these methodologies and their assumptions. The considerations described above are particularly relevant in business restructuring processes of multinational enterprises that are recurrent in times of market discontinuity.
REITs in Spain: SOCIMIs, a Second Generation of REITs?
Authors: Bernales R.
Published: December 2023

In this note, the author provides an overview of real estate investment listed corporations in Spain, which were, under the initial draft bill, to be regulated in a similar manner as REITs in other countries. Following the economic downturn, however, the regulation of these entities under the revised bill was substantially changed to learn from the lessons in other countries and take advantage of new market opportunities.
Intra-Group Share Issuance – Out of the Realm of Transfer Pricing
Authors: Kalra V. , Dadhwal K. , Butani M.
Published: December 2023

The authors discuss the recent Vodafone and Shell cases and the significance of these two transfer pricing cases for India’s taxpayers, government and investment climate.
Court of Justice
Authors: Morales T.
Published: December 2023

This overview highlights the ECJ’s decisions on (i) a credit limitation for foreign withholding tax levied on inbound dividends and (ii) the compatibility with State aid rules of a progressive advertisement tax on turnover that includes an element of partial deduction of loss carried forward.
Lessons for tax administrators in adopting the OECD's "enhanced
relationship" model : Australia's and New Zealand's experiences
Authors: Dabner J. , Burton M.
Published: December 2023

In considering how tax administrators should relate to tax
intermediaries, one approach has been to move tax administrators from a command
and control posture to a more sophisticated form of regulation, as recently
endorsed by the OECD's "enhanced relationship" model. For the last decade,
Australia and New Zealand have tested this initiative under the name of
"responsive regulation". This article examines the experiences of Australia and
New Zealand in forming an enhanced relationship between tax administrators and
tax intermediaries. The article shows that forming an enhanced relationship has
been problematic in both countries.
Taxation of Collective Investment Schemes
Authors: Vogelman G. , Beckert T.
Published: December 2023

This article concerns the current regulatory environment pertaining to
collective investment schemes in South Africa, as well as the South African tax
implications for such collective investment schemes and their resident and
non-resident investors. The position of collective investment schemes in
securities and collective investment schemes in property is considered in
detail with regard to amounts received or accrued to the collective investment
scheme, disposals by the collective investment scheme of its underlying assets
and disposals by the investors of their units in the collective investment
scheme.
Double Taxation and the Internal Market: Reflections on the ECJ's Decisions in Block and Damseaux and the Potential Implications
Authors: Cerioni L.
Published: December 2023

The author, in this article, reflects on the implications of the European Court of Justice decisions in the recent cases of Block and Damseaux with regard to the consequences for double taxation and the Community's Internal Market, in particular. Ultimately, the author questions the reading of Block and Damseaux as permitting juridical double taxation.
Mandatory E-Invoicing from 2024 – Key Features of the System and European Background
Authors: Selera P.
Published: December 2023

The National Electronic Invoicing System – commonly referred to as e-invoicing – is the next stage of the digitization of VAT obligations in Poland. After two years of operation of a voluntary system, from 2024, e-invoicing will be mandatory in Poland. Poland will then be the second EU Member State (after Italy) implementing mandatory e-invoicing in B2B relations.
The MAP in Greece: New Domestic Procedural Framework Enhances Effectiveness of Cross-Border Dispute Resolution
Authors: Sofrona L.
Published: December 2023

This article outlines the recently established framework for the mutual agreement procedure under the Greek Tax Procedure Code, including an analysis of certain legal issues arising from its application.
Made in America: International Tax Reform 2.0 – Part 1
Authors: Pérez Gautrin C.
Published: December 2023

This article, the first of two, explores the international tax reform proposed by the Biden administration and discusses the reasons for the proposed tax reform.
Software Distribution – Copyright and Income Tax Issues in India
Authors: Rajgopalan G.
Published: December 2023

In this article, the author addresses those Indian court judgements that have dealt with software distribution and the resultant copyright and income tax issues. In particular, the First Sale Doctrine and Principle of Exhaustion under copyright law and its effect on taxation of royalty under Indian income tax law and tax treaties are examined.
The TCI Case – A Milestone Case for China Taxing Offshore Indirect Shares Transfer
Authors: Li N.
Published: December 2023

This article presents a full picture of the TCI case, a case trialed at Chinese courts for China taxing a non-resident transferring shares of a non-Chinese resident enterprise outside of China. The article examines the “reasonable business purpose” test applied to this case under Chinese GAAR and describes the impact of the BEPS Project on this case. The author holds the opinion that the TCI case has significantly influenced China’s legislation and administration on taxing offshore indirect shares transfers.
2021 Guidance on MAPs
Authors: Erdős G.
Published: December 2023

The mutual agreement procedure (MAP) is an instrument for the resolution of international tax disputes whenever a person considers that the actions of the tax authorities result in taxation not in accordance with the provisions of a tax treaty or an international agreement. The current article analyses Hungary’s recent MAP guidelines regarding double tax treaties, a dispute resolution directive, and arbitration convention-based MAPs, and their application to transfer pricing cases. It also elaborates on the recent structural changes within the competent authorities.
Tax Avoidance and Harmful Tax Competition: A Proposal for an Alternative Solution
Authors: Krümpelmann M.
Published: December 2023

For decades, the European Commission has made attempts to resolve the problem of tax avoidance and harmful tax competition in the European Union. It has proposed various solutions, including the Common Consolidated Corporate Tax Base (CCCTB), the EU Anti-Tax Avoidance Directive (2016/1164) (ATAD), and the recently discussed Pillars One and Two approaches, along with a new Framework for Income Taxation for Business in Europe (BEFIT). This article focuses on why the problem has not been satisfactorily solved to date. It also proposes an alternative approach to address the problem.
What Remains of the Marks & Spencer Exception for Final Losses? - Examining the Impact of Commission v. United Kingdom (Case C-172/13)
Authors: Danish M.
Published: December 2023

The ECJ decision in Commission v. United Kingdom (Case C-172/13) confirmed that the Marks & Spencer exception for final losses still, theoretically, has a place in EU law. The author examines what this implies from a practical perspective.
BEPS Guidance on Transfer Pricing Aspects of Intangibles and the Need for Substance and Transfer Pricing Documentation
Authors: Sporken E. , Visser P.
Published: December 2023

The authors discuss the guidance released by the OECD and G20, under the Base Erosion and Profit Shifting initiative, with regard to transfer pricing aspects of intangibles. In the context of intangibles and OECD developments, the authors also discuss Dutch transfer pricing regulations as issued in November 2013.
Review and Rewrite of the Income Tax Act 1961
Authors: Jain S.
Published: December 2023

In this article, the author discusses the Indian government’s latest proposal to rewrite the country’s direct tax legislation. The article identifies certain key features of the processes of rewriting the income tax laws in Australia, New Zealand and the United Kingdom, and proposes some positive outcomes from the experiences of those countries which could be adopted by the Indian task force as it undertakes its tax legislation rewriting process.
The Brazilian Controlled Foreign Company Regime: A Comparative Analysis from an International Tax Law Perspective
Authors: Pires L.
Published: December 2023

This article describes and comments on the scope of the current controlled foreign company regime in Brazil, and analyses the compatibility or otherwise of the regime with different practices and sources of international tax law as well as principles and concepts that are intrinsic to EU law.
Hungarian Group Taxation to Counterbalance the Tightening Transfer Pricing Documentation Rules
Authors: Erdős G. , Czoboly G.
Published: December 2023

A new corporate tax grouping concept was introduced in Hungary as of 2019 with the aim of easing transfer pricing documentation burdens. This article highlights some of the peculiar features of the new Hungarian group taxation rules and gives an overview of some of the practical aspects of the transfer pricing documentation rules implemented in Hungarian legislation as of 2018. The analysis focuses on the interrelationships between these transfer pricing rules and the new group taxation rules, and highlights their shortcomings and the opportunities they offer.
The GE and Formula One Cases
Authors: Sharma S. (Sanjeev)
Published: December 2023

This article considers two recent judgments. The Supreme Court in the case of Formula One World Championship Limited held that the permanency of a fixed place through which a non-resident carries on business can be relative and depends on the nature of the business. In a decision involving the General Electric Group, the Delhi High Court opined on agency PE and the exclusionary rule on the ground of auxiliary and preparatory activities for fixed place PE.
Opinion Statement of the CFE on the Velvet & Steel Case (C-455/05) regarding the Definition of Financial Services
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 Basque Patent Box Regime
Authors: Matute Nárdiz A.
Published: December 2023

This article describes the Basque patent box regime introduced in 2008, which provides a partial exemption for revenue arising from licensing qualified intellectual property rights, and compares the regime to those applicable in the rest of Spain and in other Member States.
Thin Capitalization Rules
Authors: Hsieh E. , Chen E.
Published: December 2023

The authors provide a succinct description of the recently introduced thin capitalization regime.
Taxation of Digital Supplies in the European Union and United States – What Can They Learn from Each Other?
Authors: Bal A.
Published: December 2023

In this article, the author examines the taxation of digital goods in the European Union and United States and identifies what these countries can learn from each other. In addition to providing an overview of the consumption tax regimes applicable to digital goods in these countries, the article focuses on selected issues, such as place-of-supply (sourcing) rules, administrative obligations, cross-border/interstate transactions and best practises.
VAT Groups in Poland
Authors: Lasiński-Sulecki K.
Published: December 2023

On 1 January 2023, provisions regarding VAT grouping are to enter into force in Poland. From that date onwards, Poland will make use of an option provided under article 11 of the VAT Directive and forming VAT groups will (finally) be allowed. In this article the author provides a detailed analysis of the main features of the new legislation, as clarified in the draft administrative guidance, and briefly discusses the relationship between VAT grouping and other forms of grouping under Polish VAT law.
The Importance of Being Capitalized – The Right Debt-to-Equity Level for Intercompany Financing in Luxembourg
Authors: Wroblewski P. , Rasch M.
Published: December 2023

The recent update of the OECD Guidelines provides long-awaited guidance as to how to apply the arm’s length principle in relation to financial transactions. An important element of this guidance covers the debt-and-equity balance from a transfer pricing perspective. From a Luxembourg point of view, absent any official regulations covering thin capitalization and in line with the OECD Guidelines, it is expected that the market practice of 85:15 will no longer be applicable, unless it can be supported by a proper transfer pricing analysis. Non-supported debt-to-equity ratios may lead to a shift in the burden of proof.
Tax Risks for Chinese Investments in ASEAN under the Belt and Road Initiative
Authors: Xu D. (Diheng)
Published: December 2023

In this article, the author analyses the tax risks faced by Chinese enterprises that invest in ASEAN countries under China’s Belt and Road Initiative. In this context, the article discusses inter alia the impact of the presence of permanent establishments, limitations on foreign tax credits, the need for tax sparing provisions in China’s double tax treaties with ASEAN countries, transfer pricing, controlled foreign company rules, exchange of information, treaty abuse and tax dispute resolution for Chinese investors. The author offers recommendations to Chinese investors and China’s tax authority on tax risk management, so that they and China may gain maximum benefit from the Initiative.
Developments in Transfer Pricing Regime
Authors: Bhatnagar V.
Published: December 2023

India recently made a significant move towards aligning its transfer pricing practices with global norms. This article will discuss those recent amendments which have been incorporated into the transfer pricing rules.
Determination of
Market Prices for Tax Purposes
Authors: Lungu Iurie
Published: December 2023

This article examines existing Russian transfer pricing rules and
practices, as well as recent proposals by the Ministry of Finance to revise the
current transfer pricing framework.
Limited Third-Party Liability in EU VAT Matters
Authors: Lejeune I. , Vandenberghe S. , Racquet T.
Published: December 2023

In this article, the authors explain that, although the powers of the tax authorities of the EU Member States to hold third parties liable for unpaid VAT are not unlimited, taxable persons should take the necessary precautions to prevent that, due to the absence of evidence of their diligence, they expose themselves to the risk that the tax authorities can accuse them of not having done everything that was reasonably within their power to ensure that they did not get involved in a third party’s fraud.
Unjust Enrichment under EU VAT
Authors: Swinkels J.J.P.
Published: December 2023

Under the principle of unjust enrichment, Member States may refuse to repay indirect taxes to traders on the ground that they have already shifted the burden of the tax to a third party and would be unjustly enriched by receiving the tax from the tax authorities. In a large number of judgments, the ECJ has described the terms and conditions under which Member States may apply the principle of unjust enrichment. In this article, the author explains that those conditions are significantly different depending on whether the tax refund concerns a tax that Member States imposed in violation of EU law or VAT charged by a trader to his customer by mistake.
The Kosovan Tax
System
Authors: Peci Bedri
Published: December 2023

In this note, the author first outlines the development of taxation in
Kosovo and then describes the major features of direct and indirect taxation in
the country, with specific reference to corporate income tax, personal income
tax, withholding tax, real estate tax, the avoidance of double taxation, VAT,
excise tax and customs duties.
The Financing of Multinational Companies and Taxes: An Overview of the Issues and Suggestions for Solutions and Improvements
Authors: Storck A.
Published: December 2023

The author, in this article, considers the framework of international company taxation regarding both interest deduction and the arm’s length principle and focuses on a number of topics in the finance area that are of specific relevance for multinational companies. Where solutions are required, recommendations are made, focusing especially on an international consensus.
International
Transfer Pricing Journal
Authors: Cottani Giammarco
Published: December 2023

OECD Discussion Draft on Transfer Pricing Aspects of Business
Restructurings: Summary of Business Comments and Issues for DiscussioThe author
provides an overview of the main areas of interest arising from the business
comments received on the OECD Discussion Draft on the Transfer Pricing Aspects
of Business Restructurings. The comments received from the business community
are being analysed by the OECD and will be discussed at a consultation meeting
with commentators that will take place in Paris on 9-10 June 2009. The OECD
will then determine the extent of the further work needed to finalize its
guidance on the transfer pricing aspects of business restructurings.
Fiscal Unity Rules Introduced in Malta
Authors: Brockdorff J. , Bronzewska K.
Published: December 2023

In this note, the authors discuss Malta’s newly introduced fiscal unity rules, which are applicable as of the 2020 assessment year.
The Yates (2012) Case: Centre of Vital Interests of Dual Resident of Spain and United Kingdom was in United Kingdom
Authors: Cleave B.
Published: December 2023

In this note, the author discusses the case of Lynette Dawn Yates v. Commissioners for H M Revenue and Customs (2012), in which the First-tier Tribunal applied the former residence test under UK domestic law, as well as article 13(4) of the Spain-United Kingdom Income and Capital Tax Treaty (1975), in determining an appeal brought by Mrs Yates, who divided her time in the years in question between Spain and the United Kingdom.
Taxation of Payments for the Acquisition of Software for Business Use for Spanish Treaty Purposes: Standard Software versus Customized Software and the Spanish Observation to the Commentary on Article 12 of the OECD Model
Authors: Sánchez de Castro Martín-Luengo E,
Published: December 2023

This article considers the implications of the Spanish Observation to the Commentary on Article 12 of the OECD Model as it affects the taxation of payments for the acquisition of software for business use for Spanish treaty purposes, with special emphasis on the differing treatments of standard and customized software.
The Elimination of Economic Double Taxation in the European Union: Non-Discrimination and Beyond
Authors: Caziero M.
Published: December 2023

This article examines the notion of the elimination of economic double taxation, an obstacle to the functioning of the internal market, in the context of the Directive and the EU fundamental freedoms. In the context of the fundamental freedoms, its elimination is a necessary step toward achieving national treatment. In contrast, within the framework of the EU Parent-Subsidiary Directive (2011/96) (the Directive), it is an objective in and of itself, regardless of any discriminatory treatment of cross-border dividends.
The (Most Recent) Proposal for an EU Directive to Amend the Rules on Administrative Cooperation in the Field of Taxation (DAC8)
Authors: Popa O. , Valério C.
Published: December 2023

This note describes measures proposed by the European Commission on 8 December 2022 to amend the rules on administrative cooperation in the field of taxation (i.e. the DAC8 proposal).
Transfer Pricing Aspects of Intra-Group Services: What Are the Open Issues and What Can Be Improved?
Authors: Buono E.
Published: December 2023

The intercompany provision of services is one of the most common transactions among entities belonging to the same multinational group and it is regularly scrutinized by the tax authorities. This article looks into the international guidance on intra-group services, focusing on all the unclear and weak aspects that need to be clarified and improved in order to reduce the tax authorities’ challenges and to provide the taxpayers with more certainty.
Council
Authors: Valério C.
Published: December 2023

This overview highlights the Council’s amendment to the Code of Conduct for Business Taxation.
Taxing Digital Businesses in India
Authors: Shah S.
Published: December 2023

In this issue of the Asia-Pacific Tax Bulletin we have curated a series of country reports taking a look at the direct and indirect taxation measures adopted by countries to tackle the tax issues and challenges of the digital economy. This article on India has been published together with five other countries (Australia, China, Indonesia, Korea (Rep.) and Malaysia) and with a lead article.
Taxation of Trusts – The Problem of Aligning Concepts of Income
Authors: Brown C. (Catherine)
Published: December 2023

The Australian government is currently considering options for the rewrite and reform of the current provisions which apply to the taxation of trust income. This article provides a discussion of the current regime and the proposed reforms. It is suggested that a major revamp of taxation of trust income in Australia is problematic and a simpler approach may be to leave the law as it is, with modification where necessary to address key issues as and when they arise.
Accounting and Tax Issues and the Portuguese Treatment of Intangibles with Indefinite Lives Following the Implementation of Directive (2013/34)
Authors: Martins A. (António)
Published: December 2023

Following the accounting changes for intangibles introduced by Directive (2013/34), this article considers if Portuguese legislation merely transposes the Directive’s rules or goes beyond what is required. The author also focuses on the tax treatment of these intangibles and analyses the sources of divergence between book and tax rules.
Provision of Infrastructure to Public Authorities under EU VAT
Authors: Sztanko D.
Published: December 2023

Local authorities often require, as a prerequisite for approval of a zoning plan or the granting of a building permit, private real estate developers to construct additional infrastructural facilities on their own account and to transfer ownership of the infrastructure to them (or to designated public utility companies) free of charge. In this article, the author discusses the VAT treatment of the construction of infrastructural facilities by private real estate developers and their subsequent free provision to the local authorities, which is not uniform across the European Union.
Argentina’s Network of Tax Information Exchange Agreements with Low-Tax Jurisdictions
Authors: Ayuso J.E. , Lipovetzky E. , Rey D.
Published: December 2023

In this article, the authors first place tax information exchange agreements (TIEAs) within the context of Argentina’s treaty policy and enforcement system, and then address Argentina’s TIEAs policy towards offshore jurisdictions and the foreseeable effects.
Conduit financing, limitations on treaty benefits and US domestic
regulations
Authors: Carman P.
Published: December 2023

The United States has recently proposed adding an additional technical
requirement to its already complex domestic rules regulating conduit financing
arrangements. Because the US domestic rules sometimes prevail even if seemingly
contradictory with tax treaties, investors into the United States must take
into consideration both treaty limitations and US domestic limitations in
structuring multinational investments into the United States. In addition to
existing rules, investors may wish to take into consideration recently proposed
regulations that extend the existing rules to multiple-party financing
arrangements that are effected through disregarded entities.
Piercing the Corporate Veil in Taxation Matters
Authors: Srinivasan A. , Agrawal V.
Published: December 2023

This article is the winning entry to the 7th Nani A. Palkhivala Research Paper Competition which was conducted by the All India Federation of Tax Practitioners. The authors comprehensively discuss the “piercing of the corporate veil” in the context of Indian tax legislation and jurisprudence.
Beware of New Tax Depreciation Impacts
Authors: Conder S.
Published: December 2023

The author provides a succinct overview of the recent changes to the
tax depreciation rules in New Zealand and their impact.
The Taxation of Partnerships
Authors: Hou J.
Published: December 2023

The author provides an overview of the taxation of general and limited
partnerships in China.
The Italian Interest Limitation Rule: Constitutional Issues
Authors: Vanz G.
Published: December 2023

In this note, the author analyses the constitutional legitimacy of the Italian interest limitation rule in light of the decision of the German Federal Fiscal Court in I R 20/15 (14 October 2015) and the EU Anti-Tax Avoidance Directive (1164/2016), which is to be implemented by the end of 2018.
Taxation of Private Equity Profits – Commissioner Issues Draft Tax Determinations
Authors: Butler M. , Pengelly J.
Published: December 2023

The release of two draft tax determinations by the tax authorities, designed to counter the use of tax minimization structures by foreign investors is discussed.
Supreme Court Ruling in GlaxoSmithKline
Case
Authors: Krishnamurthy V.
Published: December 2023

The Supreme Court of Canada has issued a ruling in the GlaxoSmithKline case – its first-ever ruling in a transfer
pricing case. This article analyses the Court's decision and offers lessons to
be learned therefrom. A similar case in India is also considered.
Comparative Analysis:
Arbitration Procedures for Handling Tax Controversy
Authors: Herksen M. van , Fraser D.
Published: December 2023

Arbitration is the term used to describe procedures currently being
broadly introduced to resolve tax disputes at the competent authority level,
where regular mutual agreement procedures offer no (timely) resolution of
double taxation. This article presents an overview of how arbitration works
under the Arbitration Convention and Art. 25(5) of the OECD Model Convention,
as compared to commercial and investment treaty arbitration. The comparison
serves to allow for closer consideration of the merits and pitfalls of
arbitration, as it relates to resolving tax controversy.
Home Producers of Solar Electricity under EU VAT
Authors: Nellen F. , Herber M.
Published: December 2023

The question of whether private individuals who have installed a
photovoltaic installation (solar panels system) on the roof of their dwelling
qualify as taxable persons for VAT for the supply of surplus electricity to the
grid is pending before the Court of Justice of the European Union (ECJ). In
this article, the authors examine how the ECJ has dealt in the past with
activities that are in the grey area between economic and private
activities.
Welfare Reform Driving Significant Personal Income Tax Amendments
Authors: Ambagtsheer-Pakarinen L.
Published: December 2023

Finland is undergoing a large-scale welfare reform, pursuant to which health, social and rescue services are being transferred from the municipalities to well-being services counties. In order to finance the reform, some tax revenue from the municipalities is being transferred to the state. The overall goal is to, nevertheless, keep the tax burden at the same level as before the reform. This article examines the reform and the significant changes triggered by it in respect of Finnish personal income taxation with effect from 1 January 2023.
US Regulatory Framework for Cryptocurrency Transactions
Authors: Bal A.
Published: December 2023

This article describes the current cryptocurrency regulatory landscape in the United States. It focuses on the following areas: anti-money laundering, securities trading and taxation.
The Netherlands Tax
Treatment of Subsidiaries with Special Reference to Credit Regimes
Authors: Snel Freek
Published: December 2023

This article investigates the Netherlands tax treatment of
subsidiaries in the light of EC law and from the perspective of the Common
Market. In this regard, the article focuses on the new Netherlands credit
system and its compliance with EC law, especially regarding the rules
determined by the European Court of Justice in Cadbury Schweppes, Test
Claimants in the FII Group Litigation, Meilicke, Columbus Container and Test
Claimants in the CFC and Dividend Group Litigation.
The Revised Mutual Agreement Procedure and Recent Developments in Turkey
Authors: Kara M.C.
Published: December 2023

Turkey has enacted new Mutual Agreement Procedure (MAP) regulations (Law 7338 of 14 October 2021) in an effort to facilitate the resolution of international tax disputes, improve legal certainty and conform to the minimum standard of Action 14 of the OECD/G20 BEPS Project. Turkey has been a keen supporter and partner of the increasing international efforts in recent years to develop an effective, fast and result-oriented MAP in order to prevent conflicts arising from tax treaties. This article sets out the general principles and the new features of the Law, as well as an assessment of their alignment with international standards.
Wagering contracts : the other basket
Authors: Carman P.
Published: December 2023

Derivatives contracts may be classified by the nature of the rights of
the parties, but they may be classified also based on the function or purpose.
An old line of US case law raises a potential for classifying derivative
contracts that are neither hedges nor call for delivery as wagering contracts.
Losses from wagering contracts are deductible only to the extent of wagering
gains.
Is a Letter of Comfort a Chargeable Intra-Group Service?
Authors: Bilaney S.K.
Published: December 2023

The author considers the situation where a parent or regional holding company issues a letter of comfort to a bank or financial institution that lends money to the borrowing subsidiary. The differences between a letter of comfort and an explicit guarantee are discussed, along with the attendant transfer pricing implications.
The Taxation of Trusts in Portugal
Authors: de Sousa da Câmara F.
Published: December 2023

The author provides a historical overview of the recognition of trusts in Portugal, focusing on international private law and civil rules, the tax landscape surrounding a foreign trust, the recent tax treatment of trusts in Portugal and the challenges that lie ahead.
VAT Quick Fixes Implementation in Germany – An Overview
Authors: Prätzler R.C.
Published: December 2023

The “quick fixes” for intra-Community trade in the European Union, adopted in 2018, have to be implemented by the Member States before 31 December 2019 so that they can become applicable as of 1 January 2020. In this article, the author describes the German approach taken for their implementation and focuses on important deviations from current practice and the rules of the VAT Directive.
Transfer Pricing
Ordinance 22
Authors: Mariz de Oliveira Ricardo
Published: December 2023

Ordinance 222, issued on 24 September 2008 by the Brazilian Ministry
of Finance, aims to regulate administrative measures to permit margins
different to those established by law in connection with certain transfer
pricing methods.
The Unsettled Issue of Intercompany Guarantees
Authors: Bilaney S.K.
Published: December 2023

Based on an analysis of existing Indian transfer pricing provisions, judicial precedents in India, the OECD Transfer Pricing Guidelines (OECD Guidelines) and the Actions 8-10 Final Report, the author considers types of intercompany guarantees and whether they are a chargeable service, the approach of tax authorities to determining the arm’s length rate of guarantee fees or commissions, and an ideal benchmarking approach for guarantee fees or commissions.
Supreme Court Decision Limiting Ability of Courts To Overturn Transfer Pricing Determinations of the Tax Authorities
Authors: Bjerke J.M. , Søgaard S.S.
Published: December 2023

A recent decision of the Norwegian Supreme Court concerns the authority of courts to overturn transfer pricing determinations of the tax authorities. The authors consider this decision, noting aspects that they find surprising and problematic, as well as the potential future impact of the decision.