natgillin/translations-raw huggingface dataset:
Ved CUP-metoden sammenlignes den fakturerede afregningspris for varer eller tjenesteydelser inden for rammerne af en kontrolleret transaktion (transaktion mellem to internt forbundne selskaber) med den fakturerede afregningspris for varer eller tjenesteydelser inden for rammerne af en sammenlignelig transaktion på det frie marked (transaktion mellem to indbyrdes uafhængige selskaber) på sammenlignelige vilkår.
According to the Circular, the equity should amount to at least 1 per cent of the nominal value of the loan(s) granted or EUR 2 million without any further indication.
Da TNMM ikke fastsætter prisen for individuelle transaktioner, kan den skattepligtige fortjeneste for en enhed, som den finder anvendelse på, ikke få direkte indflydelse på den skattepligtige fortjeneste for en anden enhed i samme selskabskoncern.
The Circular also contains rules as to what information and documents need to be submitted to obtain a binding advice from the tax administration.
Metoden afviger således fra anvendelsen af CUP-metoden, der fastsætter afregningsprisen som prisen for en bestemt vare eller tjenesteydelse, der efterfølgende medtages i den skattepligtige indkomst med samme beløb af det koncernselskab, der sælger, og det koncernselskab, der køber den pågældende vare eller tjenesteydelse.
As such, the request for a binding advice needs to include inter alia ‘a transfer pricing report in line with the transfer pricing guidelines issued by the OECD and including a comprehensive description of the proposed methodology, as well as detailed information and analysis in support of this methodology, for instance the identification of comparables and the expected range of results.’ [43] Finally, the Circular specifies that a tax ruling is usually valid for a maximum of 5 years unless the facts and circumstances change or unless the legal provisions on which the ruling was based are modified or if one of the key characteristics of the transaction is altered [44].
Supplerende oplysninger meddelt efter indledningen af den formelle undersøgelsesprocedure
Description of the OECD guidance on transfer pricing
Brev fra Luxembourg af 3. september 2014
The Organisation for Economic Cooperation and Development (hereinafter ‘OECD’) provides guidance on taxation for its member countries.
Som svar på spørgsmålene i indledningsafgørelsen har Luxembourg meddelt Kommissionen, at der ikke var loft over de lån, der blev bevilget i Fiat-koncernen.
The OECD's guidance on transfer pricing can be found in its Transfer Pricing Guidelines (hereinafter the ‘OECD TP Guidelines’), which is a non-binding legal instrument providing guidance on transfer prices [45].
Luxembourg har ligeledes redegjort nærmere for de gennemsnitlige priser for FFT's koncerninterne udlån og indlån i perioden 2011-2013.
Transfer prices refer to prices charged for commercial transactions between various parts of the same corporate group.
Rentesatsen for koncerninterne lån bevilget af FFT er […].
Multinational companies have a financial incentive to allocate as little profit as possible to jurisdictions where those profits are subject to higher taxation.
Luxembourg forklarede ligeledes, at FFT's erhvervelse af kapitalandele udelukkende blev finansieret med egenkapital, og at denne finansieringsmåde betyder, at denne kapital ikke længere er til rådighed til dækning af FFT's øvrige risici.
Article 9 provides: ‘[Where] conditions are made or imposed between the two [associated] enterprises in their commercial or financial relations which differ from those which would be made between independent enterprises, then any profits which would, but for those conditions, have accrued to one of the enterprises, but, by reason of those conditions, have not so accrued, may be included in the profits of that enterprise and taxed accordingly.’
Luxembourg henviste ligeledes til artikel 57 i Europa-Parlamentets og Rådets direktiv 2006/48/EF [49], hvor det fastslås, at et kreditinstituts ikke-konsoliderede egenkapital ikke omfatter kapitalinteresser i andre kredit- og finansieringsinstitutter, der udgør mere end 10 % af disses kapital.
On 27 June 1995, the OECD's Committee on Fiscal Affairs adopted transfer pricing guidelines in their original version [47], which were substantially updated in July 2010 [48].
Luxembourg henviste ligeledes til den grundlæggende metode fastlagt i Basel II-regelsættet, hvorefter den sats, der skal anvendes på den gennemsnitlige årlige positive bruttoindkomst for tre perioder, fastsættes til 15 %.
Given their non-binding nature, the tax administrations of the OECD member countries are simply encouraged to follow the Guidelines.
Brev fra Luxembourg af 24. marts 2015
However, in general, the OECD TP Guidelines serve as a focal point and exert a clear influence on the tax practices of OECD member (and even non-member) countries.
Som svar på Kommissionens anmodning om at få tilsendt eksempler på afgørelser vedrørende skatteydere i samme situation som FFT anførte Luxembourg i sit brev af 24. marts 2015, at FFT's situation var meget speciel.
Moreover, in numerous OECD member countries those guidelines have been given the force of law or serve as a reference for the purpose of interpreting domestic tax law.
Dette skyldes ifølge Luxembourg, at FFT er et finansieringsselskab, der rejser kapital på markedet, i modsætning til de fleste andre finansieringsinstitutter i Luxembourg, der udlåner midler, som de får stillet til rådighed af andre selskaber i den koncern, de indgår i, med en margen.
To the extent the Commission cites the OECD TP Guidelines in the present Decision, it does so because those guidelines are an existing manual in the area of transfer pricing that are the result of expert discussions in the context of the OECD and elaborate on techniques aimed to address common challenges of the application of the arm's length principle to concrete situations.
Ifølge de luxembourgske skattemyndigheder er de enkelte skatteyderes situation så specifik, at det er helt umuligt at sammenligne de enkelte skatteyderes situation.
The OECD TP Guidelines therefore provide useful guidance to tax administrations and multinational enterprises on the application of the arm's length principle.
Luxembourg har ligeledes oplyst FFT's beskatningsgrundlag for perioden 2009-2013 på grundlag af selskabets selvangivelser [50], jf. tabel 7.
The OECD TP Guidelines provide five methods to approximate an arm's length pricing of transactions and profit allocation between companies of the same corporate group: (i) the comparable uncontrolled price method (hereinafter ‘CUP’); (ii) the cost plus method; (iii) the resale minus method; (iv) the TNMM and (v) the transactional profit split method.
Tabel 7
The OECD TP Guidelines draw a distinction between traditional transaction methods (the first three methods) and transactional profit methods (the last two methods).
FFT's beskatningsgrundlag for perioden 2009-2013
Multinational corporations retain the freedom to apply methods not described in those guidelines to establish transfer prices provided those prices satisfy the arm's length principle.
(EUR)
The CUP and the TNMM are relevant for the present Decision and, therefore, are described in more detail in recitals 90 to 92.
Luxembourg anførte, at det fremgik af FFT's selvangivelse for 2013, at bekymringerne udtrykt i betragtning 64 i indledningsafgørelsen over, at beregningsgrundlaget er fastsat i et interval mellem 2288000 EUR og 2796000 EUR, var helt ubegrundede.
The CUP method compares the price charged for the transfer of property or services in a controlled transaction (i.e. a transaction between two enterprises that are associated enterprises with respect to each other) to the price charged for the transfer of property or services in a comparable uncontrolled transaction (i.e. a transaction between enterprises that are independent enterprises with respect to each other), conducted under comparable circumstances.
Det fremgår klart af skatteafgørelsen, at der kun må anvendes den valgte metode, og at markedsparametre anvendes som variabler.
The TNMM is one of the ‘indirect methods’ to approximate an arm's length pricing of transactions and profit allocation between companies of the same corporate group.
Endelig har Luxembourg på Kommissionens anmodning fremsendt alle tidligere skatteafgørelser, som de luxembourgske skattemyndigheder har truffet vedrørende selskaberne i Fiat-koncernen.
It approximates what would be an arm's length profit for an entire activity, rather than for identified transactions.
For det første imødekom de luxembourgske skattemyndigheder en anmodning om afgørelse af 9. december 2009 vedrørende godkendelsen af FFT's beskatningsgrundlag […].
It does not seek to establish the price of goods sold, but estimates the profits independent companies could be expected to make on an activity, such as the activity of selling goods.
Denne anmodning om afgørelse blev på ny fremsendt til Kommissionen i sin helhed ved Luxembourgs brev af 24. marts 2015, der indeholdt oplysninger, som Luxembourg tidligere havde bortredigeret i sin første meddelelse til Kommissionen om denne afgørelse.
It does this by taking an appropriate base (‘a profit level indicator’), such as costs, turnover or fixed investment, and applying a profit ratio reflecting that observed in comparable uncontrolled transactions to that base.
Der blev fremsendt et andet næsten identisk brev som svar på en anmodning om en parallel afgørelse indgivet til de luxembourgske skattemyndigheder […] den 18. april 2012 vedrørende selskabet [F], der synes at være FFT i en anden finansieringsselskabsstruktur i koncernen.
Because the TNMM does not set a price for individual transactions, the taxable profit of an entity estimated using the TNMM might not have a direct effect on the taxable profit of another entity of the same corporate group.
Den anden anmodning om afgørelse, der er underbygget af en rapport om koncerninterne afregningspriser, indeholder en konklusion, der er identisk med konklusionen i FFT's anmodning om afgørelse [gengivet i betragtning 54].
The method is therefore different to using, for example, the CUP, where transfer pricing establishes the price of a specific good or service which is then recorded in the taxable profit for the same amount by the group company selling and the group company buying the particular good or service.
Resultatet af analysen af de koncerninterne afregningspriser afviger imidlertid mærkbart.
Additional information submitted after the opening of the formal investigation procedure
Betalingen på armslængdevilkår til [selskab F] som fastsat i rapporten om koncerninterne afregningspriser er følgende: »I undersøgelsen af de koncerninterne afregningspriser fastsættes en passende forrentning baseret på i) risikokapitalen på 44,6 mio. EUR, og ii) kapitalen til betaling for de funktioner, der udøves af selskabet, på 8,8 mio. EUR ± 10 %«.
Luxembourg's Letter of 3 September 2014
De to afgørelser var opført på den liste, som Luxembourg fremsendte til Kommissionen den 4. juni 2015, over skatteafgørelser vedrørende likviditetsfunktioner [jf. betragtning 29].
In response to the questions in the Opening Decision, Luxembourg informed the Commission that credit limits are not applied within the Fiat group.
For det tredje har Kommissionen ligeledes fået tilsendt to andre anmodninger om afgørelser […] imødekommet af de luxembourgske skattemyndigheder.
Luxembourg also provided information regarding the average pricing of FFT's intra-group borrowing and lending for the years 2011 to 2013.
Disse anmodninger var fra 2002 og 2012 og vedrører andre aspekter af Fiat-koncernens struktur i Luxembourg.
The interest rate applicable to intra-group loans provided by FFT is […], and was set at Euribor plus [6-9 %] at the end of 2011.
Disse afgørelser undersøges ikke i denne afgørelse.
The average interest rate received on the current account balances with group companies for the years 2012 and 2013 are [6-9 %] and [6-9 %] respectively.
Oplysninger fremlagt af Fiat den 31. marts 2015
On intra-group deposits, FFT paid on average [0-3 %], [0-3 %] and [0-3 %] in 2011, 2012 and 2013 respectively (these figures are average all-in rates).
Oplysninger vedrørende selskaber i Fiat-koncernen, der er direkte forbundet med FFT
Luxembourg additionally expressed views regarding the remuneration of capital agreed in the contested tax ruling.
FF er et 100 % ejet datterselskab af Fiat S.p.A [51].
Dividends are therefore not to be taken into account in the importance of the functions performed and the risks assumed.
FFNA, og FFC er 100 % ejet af FFT [52].
Luxembourg further explained that the acquisition of the participations of FFT was financed in its totality through own funds and that this mode of financing automatically means that those funds are no longer available to cover other risks borne by FFT.
Fiat har på Kommissionens anmodning fremsendt detaljerede finansielle oplysninger om finansieringsselskaberne i koncernen.
Luxembourg further referred to the basic indicator approach under the Basel II framework, which provides the figure of 15 % to be applied to the average of three periods of positive annual gross income.
Koncernen har navnlig fremsendt årsberetningerne for FFT, FF, FFNA, FFC og FFB for 2011, 2012 og 2013 og en beskrivelse af disse selskabers funktioner.
Luxembourg's Letter of 24 March 2015
Ifølge disse oplysninger har FF 52 ansatte, heraf [20-30] i finansieringsafdelingen og [10-20] i regnskabsafdelingen.
In response to the request by the Commission to provide examples of rulings addressed to other taxpayers in a similar situation as FFT, Luxembourg indicated in its letter of 24 March 2015 that the FFT's situation is very specific.
FFT har 14 ansatte, heraf en direktør, [0-10] ansatte med direkte kontakt til kunderne (i Det Forenede Kongerige), [0-10] ansatte med administrative opgaver og [0-10] ansatte med regnskabs- og kontrolopgaver.
The reason for this would be that FFT operates as a financing company raising funds on the market, contrary to most of the financing companies in Luxembourg, which lend on with a margin funds that have been provided to them by other group companies.
FFNA har fem ansatte, hvorimod FFC's aktiviteter er begrænsede.
Moreover, according to the Luxembourg tax administration the situation of each taxpayer is sufficiently specific to not make possible any comparison with the situation of other taxpayers.
Ifølge oplysningerne fra Fiat er den bogførte værdi af datterselskaberne FFT (FFNA og FFC) […].
That would be the reason why the Luxembourg national law only provides for a general provision to provide a framework for transfer pricing (Article 164 L.I.R.) so as to allow the tax administration to capture in the most precise manner the economic reality of each tax case, be it covered by a ruling or not.
FF og FFT er finansieringsselskaberne i euroområdet.
Luxembourg also provided the tax base of FFT for the period 2009 to 2013 based on the tax declarations of FFT [50], as reproduced in Table 7.
De finansielle oplysninger for disse selskaber for perioden 2010-2013, der er baseret på de indsendte årsberetninger, er anført i tabel 8 og 9 [53].
Table 7
Tabel 8
FFT's tax base for years 2009 to 2013
Finansielle oplysninger for FFT for perioden 2010-2013
(in EUR)
Renteindtægter og tilsvarende indtægter
Luxembourg indicated that it is apparent from FFT's 2013 tax declaration that the doubt expressed in recital 64 of the Opening Decision, that the tax base is set to a fixed range from EUR 2288000 to EUR 2796000, is not substantiated.
Fra koncernens selskaber
It is clear that the contested tax ruling only agreed to the methodology and that the market parameters vary.
Andre indtægter
Finally, at the request of the Commission, Luxembourg also provided all past rulings of Fiat group companies obtained from the Luxembourg tax administration.
INDTÆGTER I ALT
First, a ruling request dated 9 December 2009, which was approved by the Luxembourg tax administration, requested an agreement on the tax base of FFT […].
Driftsudgifter og afskrivninger
Second, the Luxembourg tax administration issued two letters on 3 September 2012.
Renteudgifter og andre finansielle omkostninger
The first is the contested tax ruling, based on a ruling request dated 14 March 2012, as indicated in recital 9.
Koncernens selskaber
That ruling request was provided to the Commission anew and in full with Luxembourg's letter of 24 March 2015, including information that had been previously redacted by Luxembourg in its initial submission of that ruling to the Commission.
På obligationer og andre værdipapirer
A second almost identical letter, was issued in response to a parallel ruling request submitted […] to the Luxembourg tax administration on 18 April 2012 concerning a company named [F], which seems to correspond to FFT in an alternative structure of the group treasury companies.
Øvrige udgifter
In this alternative structure, the only difference would be that the company would only have a branch in the UK and would not have any branch in Spain, and that [company F] would not own [any subsidiaries].
UDGIFTER I ALT (før selskabsskat)
The second ruling request, supported with a transfer pricing report, contains a conclusion presented in the same manner as the FFT ruling request (reproduced in recital 54).
Overskud før selskabsskat
However, the outcome of the transfer pricing analysis is significantly different.
Skat
The arm's length remuneration of [company F], as established in the transfer pricing report, is as follows: ‘The transfer pricing study determines an appropriate remuneration on (i) the capital at risk of EUR 44,6 million and (ii) the capital aimed at remunerating the functions performed by the company of EUR 8,8 million on which a range of +/– 10 % is envisaged.’
Nettoindtægter
Both rulings were reported on the list provided by Luxembourg to the Commission on 4 June 2015 of tax rulings covering a treasury function (see recital 29).
Egenkapital
Third, two other ruling requests […] approved by the Luxembourg tax administration were also provided to the Commission.
Skyldige beløb til koncernens selskaber
Those ruling requests dated from 2002 and 2012 and cover other aspects of the Fiat group structure in Luxembourg.
Udstedte gældsinstrumenter
Those rulings are not assessed in this Decision.
Andre passiver (bankgæld, påløbne forpligtelser osv.)
Fiat's Submission of 31 March 2015
EGENKAPITAL OG PASSIVER I ALT
Information on Fiat group companies in direct relation with FFT
Fordringer på koncernens selskaber
Fiat recalled that FFT is owned approximately 40 % by Fiat SpA and approximately 60 % by FF, which in turn is a wholly-owned subsidiary of Fiat SpA [51].
Likvide midler og værdipapirer
FFT in turn holds 100 % of FFNA and FFC [52].
Kapitalandele i forbundne selskaber
Fiat also recalled that FFT is one of the treasury companies of the Fiat group, as listed in recital 39.
Andre aktiver (anlægsaktiver, tilgodehavender osv.)
At the request of the Commission, Fiat provided detailed financial data on the group treasury companies.
AKTIVER I ALT
In particular, Fiat provided the annual report for the years 2011 to 2013 of FFT, FF, FFNA, FFC and FFB.
Ultimo 2011, 2012 og 2013 stillede FFT garantier i forskellige banker til fordel for koncernens selskaber for et samlet beløb på henholdsvis 2560802 EUR, 10772314 EUR og 10155339 EUR.
Fiat also provided a description of the functions of the group treasury companies.
Tabel 9
According to that information, FF has 52 employees, out of which [20-30] are working for the treasury department and [10-20] in accounting.
Finansielle oplysninger for FF for perioden 2010-2013
FFT has 14 employees, composed of one director, [0-10] front office employees (the front office is based in the United Kingdom), [0-10] back office employees and [0-10] accounting and control employees.
Finansielle indtægter
FFNA has five employees and FFC has limited activities.
Andre indtægter (udbytte, indtægter fra derivater, kursindtægter m.m.)
According to the submission of Fiat, the book value of the subsidiaries of FFT (FFNA and FFC) […].
Indtægter fra tjenesteydelser til koncernens selskaber
The annual report of FFT states that both FFNA and FFC have been acquired from Fiat SpA and FF in 2011.
Driftsomkostninger
Starting from 2011, FFT prepared consolidated financial statements in Luxembourg.
Finansielle omkostninger
FF and FFT are the treasury companies for the euro-area.
Passiver
Financial figures for FF and FFT for the period 2010-2013 based on the provided annual reports are presented in Tables 8 and 9 [53].
Finansielle aktiver
Table 8
Detaljerede oplysninger om FFT's aktiver og passiver
FFT's financial figures for years 2010 to 2013
Tabel 10
Interest and similar income
FFT's modparter i 2013
Thereof from group companies
(1000 EUR) [55]
Other income
Aktiver
TOTAL INCOME
Gennemsnitssaldo
Operating expense and amortisation
Modtagne renter
Interest payable and other financial charges
Renter divideret med gennemsnitssaldoen
Thereof to group companies
Fiat-koncernens modpart 1
Thereof on bonds and other notes
Fiat-koncernens modpart 2
Commission on Guarantees on bonds paid to Fiat SpA [54]
Fiat-koncernens modpart 3
Other expense
Fiat-koncernens modpart 4
TOTAL EXPENSE (excl. corporate tax)
Fiat-koncernens modpart 5
Profit before corporate tax
Fiat-koncernens modpart 8
Amounts owned to group companies
Fiat-koncernens modpart 10
Other liabilities (bank debt, accruals, …)
Fiat-koncernens modpart 11
TOTAL LIABILITIES AND EQUITY
Fiat-koncernens modpart 12
Amounts owned by group companies
Fiat har ligeledes fremsendt oplysninger om FFT's gældsudstedelse siden 2009 gennem EMTN-programmet [56], FFT's vigtigste finansieringskilde, og om dets prospekt.
Cash and transferrable securities
FFT har i denne periode foretaget 14 udstedelser af obligationer med løbetider på højst syv år.
Participation in affiliated undertakings
Selskabet har udstedt obligationer i euro med en pålydende rent på mellem 5,75 % og 7,75 % (undtagen en udstedelse med en rente på 9 %) og i schweiziske francs med en pålydende rent på mellem 4 % og 5 %.
Other assets (fixed assets, accruals, …)
I oplysningerne fra Fiat anføres forfaldstiden for de koncerninterne finansieringstransaktioner.
TOTAL ASSETS
Ultimo 2013 var den kontraktlige udløbstid for fordringer til et beløb af 12613000 EUR af et samlet beløb på 12858000 EUR under et år (likvide midler og lån til koncernens selskaber er anført i tabel 9).
FFT issued guarantees in favour of group companies to different banks for a total amount of EUR 2560802, EUR 10772314 and EUR 10155339 at the end of 2011, 2012 and 2013 respectively.
Det fremgår af de fremsendte oplysninger om de forskellige koncerninterne transaktioner, at mange af transaktionerne er dag-til-dag-transaktioner.
Table 9
FFT indgår imidlertid ligeledes transaktioner med forskellige løbetider […].
FF's financial figures for years 2010 to 2013
FFT yder forskellige former for lån til koncernen […].
Financial income
Ultimo 2013 havde næsten alle indskud en løbetid […].
Other income (dividends, financial gains on derivatives, exchange rates, …)
Obligationsudstedelserne havde forskellige løbetider […].
Revenue from services to group
Fiat har ligeledes fremsendt dokumentet vedrørende koncernens likviditetspolitik, der analyseres i rapporten om koncerninterne afregningspriser, som danner grundlag for anmodningen om afgørelse.
Operating expense
I dette dokument anføres de interne regler for koncernens investering af likvide midler.
Financial expense
Oplysninger om Fiat-koncernens politik for koncerninterne afregningspriser
Liabilities
I sit brev af 20. februar 2015 anmodede Kommissionen Fiat om at redegøre for den mekanisme, der gør det muligt for koncernen at nå frem til et stabilt nettoresultat svarende til en stabil andel af egenkapitalen i 2009, 2010 og 2011 (se tabel 4 i betragtning 51 i indledningsafgørelsen), på trods af store udsving i aktiver, passiver, finansielle omkostninger og indtægter.
Financial assets