natgillin/translations-raw huggingface dataset:
De luxembourgske regler om interne afregningspriser, der udgør grundlaget for cirkulæret, er indarbejdet i de almindelige skatteregler, da de finder anvendelse på forbundne selskaber i en koncern, der foretager koncerninterne transaktioner.
The agreement related only to a method to remunerate the treasury functions performed by FFT and, each year following 2011, FFT has updated all of the parameters used to estimate its capital at risk and return on equity to calculate its target profit.
De luxembourgske regler om interne afregningspriser afviger ikke fra de almindelige skatteregler, idet de i praksis er i overensstemmelse med OECD's retningslinjer for koncerninterne afregningspriser og har til formål at fastsætte en fortjeneste efter armslængdeprincippet.
Moreover, the FFT APA is only valid for a period of 5 years, provided the facts and circumstances on which the APA is based do not change, which is a period of validity consistent with the ruling practice in other Member States.
Med hensyn til den tvivl, som Kommissionen har givet udtryk for i sin indledningsafgørelse vedrørende den valgte metode til fastsættelse af de interne afregningspriser, påpeger FFT, at TNMM er en almindelig accepteret metode, godkendt af OECD og i overensstemmelse med de almindelige skatteregler i Luxembourg.
Second, there is nothing objectionable to the fact that FFT's tax advisor chose the TNMM, given that no internal comparables to the transactions carried out by FFT exist that could be used for applying a CUP method.
Kommissionen har anerkendt den udbredte anvendelse af TNMM, og at anvendelsen kan skabe problemer [69].
That is because (i) FFT does not grant loans to third parties; and (ii) Fiat group companies do not receive similar loans from third parties.
Retningslinjerne vedrørende visse detaljerede aspekter er utilstrækkelige, men Kommissionen ønsker at løse kontroversielle spørgsmål vedrørende koncerninterne afregningspriser på grundlag af sin egen fortolkning af, hvordan TNMM burde anvendes i denne sag.
FFT refers to paragraph 2.2 of the OECD TP Guidelines according to which the method selection should always aim at finding the most appropriate method.
FFT's skattepligtige fortjeneste er desuden i overensstemmelse med den vedtægtsmæssige fortjeneste, hvilket ligeledes bekræfter, at TNMM ikke giver FFT en økonomisk fordel.
FFT further refers to paragraph 2.4 of the OECD TP Guidelines, according to which there are situations where transactional profit methods are found to be more appropriate than traditional transaction methods.
Ifølge FFT bør skattemyndighederne have visse skønsbeføjelser ved anvendelsen af TNMM, der, for så vidt angår fastsættelsen af den skattepligtige fortjeneste, aldrig fører til et enkelt resultat, men til en række gyldige resultater.
According to FFT, if the tax advisor had used the pricing of its bonds in the application of the CUP method to set the transfer prices applied to the loans to the group companies, FFT would have incurred losses, because it would not have recovered the cost of the liquidity to cover any financial needs of the group.
Forskellen mellem FFT's skattepligtige fortjeneste (som godkendt af de luxembourgske skattemyndigheder) og selskabets skattepligtige fortjeneste som formodet af Kommissionen bør således aldrig betragtes som en fordel i henhold til statsstøttereglerne.
FFT constitutes a less complex entity with respect to the other group companies whose margins may be tested with the TNMM.
Der er kun tale om en fordel, hvis foranstaltningen helt åbenlyst er i strid med almindelige regler for fastsættelse af koncerninterne afregningspriser og går ud over skattemyndighedernes skønsbeføjelser [70].
This method is used with increasing frequency in transfer pricing analyses and the 2010 OECD TP Guidelines do not provide for a hierarchy between methods.
I modsat fald er der tale om et indgreb fra Kommissionens side i en medlemsstats beskatningskompetence.
Additionally, according to FFT, equity often may be the result of historical decisions linked to the operations of a company and may not have a direct link with the level of equity necessary to sustain the risks of the company's activity.
Endelig påpeger FFT, at Kommissionen ved vurderingen af, om der var tale om en fordel, burde have overvejet den samlede indvirkning »på koncernen«.
Finally, FFT notes that the OECD TP Guidelines acknowledge that transfer pricing is not an exact science.
Fiat-koncernen har ikke opnået nogen fordel, da enhver forhøjelse af beskatningsgrundlaget i Luxembourg opvejes af en forhøjelse af skattefradraget i andre europæiske lande (i de senere år primært Italien).
It refers to paragraph 1.13 of the OECD TP Guidelines in this respect, more precisely, to the following consideration: ‘It is important not to lose sight of the objective to find a reasonable estimate of an arm's length outcome based on reliable information.
Ifølge FFT har Kommissionen anerkendt dette i en række afgørelser.
It should also be recalled at this point that transfer pricing is not an exact science but does require the exercise of judgment on the part of both the tax administration and taxpayer’.
[71]
FFT indicates that they have nevertheless used their best efforts to estimate an arm's length remuneration for their activities.
Manglende »selektivitet«
Third, as regards the adequacy of FFT's equity, FFT has to evidence that its equity is sufficient to support the risks it assumes in respect of its financing activity.
Ifølge FFT kan den referenceordning, der skal anvendes ved vurderingen af selektivitet, kun omfatte selskaber underlagt reglerne om koncerninterne afregningspriser, dvs. selskaber, der udelukkende handler med deres forbundne selskaber.
No specific guidance is given by the Circular to determine the appropriate level of equity at risk and, therefore, FFT decided to analyse its equity to ascertain what proportion of capital was necessary to perform its activities and to bear its risks by making reference to the Basel II framework.
Dette anerkendes i Kommissionens beslutning om groepsrentebox-ordningen [72], hvor det bekræftes, at erhvervsmæssigt forbundne virksomheder med hensyn til finansieringsaktiviteter med fremmedkapital ikke befinder sig i en tilsvarende faktisk og juridisk situation som virksomheder, der ikke er erhvervsmæssigt forbundet.
Also the Circular compares companies performing intermediary financing activities with independent financial institutions.
For at påvise foranstaltningens selektive karakter skal Kommissionen ligeledes dokumentere, at FFT har opnået en APA på andre betingelser end dem, der gælder for andre luxembourgske koncernenheder, der udøver finansieringsaktiviteter.
The Circular also requires taxpayers performing intra-group financing transactions to have sufficient equity to support their financing risks from such transactions.
Det anføres imidlertid i cirkulæret, at alle selskaber i finansieringskoncerner kan indgå en APA.
To the contrary, holding activities are not considered for the purpose of the FFT APA which is why it was justified to exclude FFT's shareholdings from its equity at risk.
Foranstaltningen er således ikke selektiv.
Besides, the amount of equity equivalent to the investment in FFT's subsidiaries has been excluded since it reflects non-portfolio investments in affiliates that are remunerated through dividends.
Kommissionen anerkender generelt skatteafgørelser som instrumenter, der giver skatteyderne retssikkerhed og forudsigelighed med hensyn til deres skattemæssige stilling.
However, dividends are not subject to transfer pricing analyses as they do not entail any consideration of the significance of the functions performed or of the risks borne.
De luxembourgske skattemyndigheders skatteafgørelser er ikke skønsmæssige, da de er i overensstemmelse med principperne i cirkulæret, hvor der henvises udtrykkeligt til armslængdeprincippet defineret i artikel 9 i OECD's modelbeskatningsoverenskomst, og de indeholder retningslinjer og præciseringer vedrørende minimumskapitalkravene og analysen af de koncerninterne afregningspriser, som et luxembourgsk selskab, der udøver koncerninterne finansieringsaktiviteter, skal overholde.
Such deduction is also consistent with the Basel II framework [63] and Article 57 of Directive 2006/48/EC relating to the taking up and pursuit of the business of credit institutions (the Capital Requirement Directive, hereinafter: ‘CRD III’) [64].
De luxembourgske skattemyndigheders eventuelle skønsbeføjelser er således begrænsede som følge af retningslinjerne i cirkulæret.
Fourth, with respect to the Commission's analysis of the treatment of intra-group receivables and the fact that the FFT APA disregards all assets other than third party assets, FFT submits that the group credit rating is already incorporated in the group cost of funding sourced by FFT.
Skattemyndighedernes begrænsede skønsbeføjelser er i øvrigt helt i overensstemmelse med anvendelsen af OECD's retningslinjer for koncerninterne afregningspriser.
As FFT and all associated group companies have a credit rating equivalent to Fiat SpA [65], there is no additional credit risk to FFT from lending to its associated group companies.
Dette enkle element kan ikke i sig selv indebære statsstøtte.
Therefore, the interest rate charged by FFT to its associated group companies is set as the sum of the (i) group cost of funding; plus: (ii) the guarantee fees which it pays to Fiat SpA; (iii) the operational costs it incurs to be able to provide its own services to its affiliates; (iv) the ‘negative carry’ which arises because significant sums borrowed by FFT have to be kept on short-term deposit, at lower rates of interest, to meet group liquidity needs at short notice; and (v) the capital remuneration for risks incurred, which are consistent with the functions assumed by FFT in the management of the group treasury.
FFT bekræfter desuden, at FFT's APA gennemgås jævnligt, og at gyldighedsperioden er højst fem år.
Fifth, according to FFT, it was justified to use the 6 % coefficient applied to its risk-weighted assets (hereinafter ‘RWAs’) as it corresponds to FFT's understanding of the Basel II framework transposed to non-bank financial institutions in certain EU jurisdictions (for instance, Italy) by local regulatory authorities in accordance with the CRD.
FFT påpeger derudover, at Kommissionen ikke har påvist, at anvendelsen af TNMM-metoden i FFT's APA afveg fra andre skatteafgørelser vedrørende selskaber i samme situation som FFT.
Moreover, since the asset exposure of FFT to third parties consists mainly of bank deposits, the 20 % risk weighting was applied consistently with the Standardised Approach of the Basel II framework [66].
Ifølge FFT er der ingen tvivl om, at et sammenligneligt selskab i samme situation som FFT kunne have anmodet om en skatteafgørelse og fastsat sin skattepligtige fortjeneste på grundlag af TNMM.
Similarly, as regards the 15 % risk weighting applied for operational risk, FFTs refers the Commission to the Basic Indicator Approach, where, according to Paragraph 649 of the Basel II framework, such a coefficient should be applied.
Da FFT og sammenlignelige selskaber er underlagt de samme skatteregler, giver det ikke nogen mening at fastslå, om den metode til fastsættelse af koncerninterne afregningspriser, der blev anvendt for FFT, var i overensstemmelse med OECD's retningslinjer for koncerninterne afregningspriser (hvilket den var under alle omstændigheder).
Similarly, under the same Basic Indicator Approach, the gross income is to be computed as the net interest income plus net non-interest income gross of any provision, or operating expenses, but excluding exceptional profits.
FFT's faktiske situation er væsentlig forskellig fra situationen i beslutningerne om koordinationscentrene
Given that FFT has no non-interest income, the reference to creditor interest accrued on bank deposits, net of the debtor interest accrued on bank loans, is justified as the best approximation of the operational risk of FFT.
Ifølge FFT er der i indledningsafgørelsen flere væsentlige forskelle i forhold til tidligere afgørelser, hvor Kommissionen har sat spørgsmålstegn ved anvendelsen af en metode til fastsættelse af koncerninterne afregningspriser (dvs. kostpris plus avance-metoden) som en skatteforanstaltning, der har givet en selektiv fordel [73].
As regards any possible change of the regulatory framework, FFT submits that also under the Basel III framework [67] and Directive 2013/36/EU [68] of the European Parliament and of the Council (‘CRD IV’) on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, the relevant criteria are still valid.
I disse afgørelser kunne reglerne kun anvendes af skatteydere, der opfyldte visse krav, hvorimod Kommissionen i indledningsafgørelsen kun sætter spørgsmålstegn ved anvendelsen af TNMM, dvs. den specifikke fastsættelse af den skattepligtige fortjeneste, som led i en APA-procedure, alle luxembourgske skatteydere, der udøver koncerninterne finansieringsaktiviteter, har adgang til.
Sixth, as regards the Commission's doubt on the beta used, FFT submits that even when excluding certain comparables (such as national banks), the arm's length range stays almost exactly the same.
I disse afgørelser kunne fortjenesten fastsat på grundlag af kostpris plus avance-metoden desuden afvige betydeligt fra den vedtægtsmæssige fortjeneste, hvilket ikke er tilfældet for FFT, hvis fortjeneste fastsat på grundlag af TNMM-metoden er i overensstemmelse med selskabets regnskabsresultat.
Since FFT acts as a treasury company and cannot be assimilated to a bank, betas of financing companies are considered by FFT and [the tax advisor] to be the most appropriate comparable.
På samme måde var anvendelsen af metoden til fastsættelse af koncerninterne afregningspriser i de tidligere afgørelser helt klart ikke i overensstemmelse med OECD's retningslinjer for koncerninterne afregningspriser.
Moreover, the Circular makes a clear reference to financial service providers.
I denne sag følges disse retningslinjer.
On that basis, it is reasonable to consider a set of companies active in the financial services industry to determine an appropriate beta.
I modsætning til, hvad der blev observeret i afgørelserne vedrørende koordinationscentrene, indeholder OECD's retningslinjer for koncerninterne afregningspriser imidlertid heller ingen klare retningslinjer for fastsættelse af koncerninterne afregningspriser for visse aktiviteter udøvet af FFT (f.eks. finansierings- og likviditetsaktiviteter).
With respect to the adoption of the 25th percentile of the arm's length range, this is in line with the OECD TP Guidelines that consider that all points within the arm's length range provide for arm's length prices/profits.
FFT hævder desuden, at Kommissionen heller ikke har taget hensyn til, at FFT's APA var baseret på en økonomisk analyse, der var i overensstemmelse med OECD's retningslinjer for koncerninterne afregningspriser, hvilket dog påviser, at fastsættelsen af fortjenesten ikke var vilkårlig, og at de luxembourgske skattemyndigheder ikke have udøvet nogen skønsbeføjelse.
In addition, FFT is considered to bear limited risks as it works exclusively for group companies, group activities are very integrated and the parent company has every interest to support the activities of its affiliates.
LUXEMBOURGS SVAR PÅ DE INTERESSEREDE PARTERS BEMÆRKNINGER
Seventh, FFT does not concur with the Commission's doubt that the 0,87 % return on equity is too low.
Ved brev af 5. januar 2015 erklærede Luxembourg sig helt enig i Fiats bemærkninger.
The excess capital, i.e. the capital that is not necessary to cover the risks assumed by FFT on its financing activity, is either on-lent in case another group company needs additional funding or used to fund operating expenses incurred by FFT while rendering financial services.
VURDERING AF DEN ANFÆGTEDE FORANSTALTNING
As such, it should be remunerated in line with short-term liquidity investments.
Forekomst af statsstøtte
The Commission's selectivity analysis
I henhold til artikel 107, stk. 1, i TEUF er statsstøtte eller støtte, som ydes ved hjælp af statsmidler under enhver tænkelig form, og som fordrejer eller truer med at fordreje konkurrencevilkårene ved at begunstige visse virksomheder eller visse produktioner, uforenelig med det indre marked, i det omfang den påvirker samhandelen mellem medlemsstaterne.
FFT submits that even if the Commission's analysis of the compliance with the arm's length principle was correct, the Opening Decision provides no evidence of FFT being treated more advantageously than any other Luxembourg taxpayer in a comparable legal and factual situation to FFT.
Ifølge fast retspraksis skal alle betingelserne i artikel 107, stk. 1, TEUF være opfyldt, for at der kan være tale om statsstøtte i denne bestemmelses forstand [74].
The Opening Decision does not contain any comparison of the position of FFT with other Luxembourg taxpayers, such as the 21 other taxpayers whose APAs have been reviewed by the Commission.
Det er således fastslået, at for at en foranstaltning kan kvalificeres som statsstøtte i denne bestemmelses forstand, skal der for det første være tale om statsstøtte eller støtte, som ydes ved hjælp af statsmidler, for det andet skal denne støtte kunne påvirke samhandelen mellem medlemsstater, for det tredje skal den give en virksomhed en selektiv fordel, og for det fjerde skal den fordreje eller true med at fordreje konkurrencevilkårene [75].
FFT was entitled to an APA from the Luxembourg tax administration, like any other Luxembourg taxpayer having a real presence in Luxembourg.
For så vidt angår den første betingelse for, at der foreligger støtte, blev afgørelsen truffet af Administration des contributions directes, der henhører under Storhertugdømmet Luxembourgs skattemyndigheder.
Moreover, given that the aggregate Luxembourg corporate income tax rate for FFT was 28,8 % (for the financial year 2011), while in Italy the headline corporate tax rate is approximately 33 %, a higher profit earned by FFT would have resulted in higher deductible costs in Italy, since the majority of the FFT loans are to Fiat Finance SpA.
I denne afgørelse godkender de luxembourgske skattemyndigheder den metode for tildeling af fortjeneste til FFT i Fiat-koncernen, som skatterådgiveren har foreslået koncernen, og afgørelsen binder de luxembourgske skattemyndigheder i fem år og danner grundlag for FFT's årlige beregning af den selskabsskat, selskabet skal betale i Luxembourg.
Hence, it is not clear what kind of ‘aid’ the group as a whole therefore obtained if FFT reported a lower profit in Luxembourg and hence was entitled to lower interest deductions in Italy.
Den anfægtede afgørelse kan således tilregnes Luxembourg.
FFT's second set of comments
Hvad angår finansieringen af foranstaltningen ved hjælp af statsmidler, udgør en foranstaltning, hvorved offentlige myndigheder indrømmer visse virksomheder en skattefritagelse, der, selv om den ikke indebærer en overførsel af statslige midler, giver støttemodtagerne en gunstigere økonomisk stilling end andre skattepligtige, statsstøtte, jf. Domstolens faste praksis [76].
The APA does not confer an ‘advantage’
Kommissionen påviser i afsnit 7.2, at den anfægtede afgørelse indebærer en nedsættelse af den skat, som FFT skal betale til Luxembourg, idet FFT undgår at betale den skat, selskabet i modsat fald skulle have betalt ifølge de almindelige selskabsskatteregler i Luxembourg.
FFT's second set comments start off by explaining the importance of APAs in general and their acceptance both as a part of the general tax system, as well as their endorsement by the Luxembourg tax system.
Den anfægtede afgørelse bør derfor anses for at give anledning til et tab af statsmidler, eftersom enhver skattenedsættelse for FFT, medfører et tab af skatteindtægter, som Luxembourg ville have haft uden denne nedsættelse.
The FFT APA follows the guidance contained in the Circular and does not depart from the Luxembourg general tax system.
Med hensyn til den anden betingelse for, at der foreligger statsstøtte, hører FFT under Fiat-koncernen, der er et multinationalt selskab, som driver virksomhed i alle EU-medlemsstater, således at enhver støtte til dette selskab kan påvirke samhandelen inden for Unionen.
The 5-year duration of the FFT APA is in line with the standard length of APAs concluded in other Member States.
En foranstaltning, der indrømmes af en medlemsstat, anses for at fordreje eller true med at fordreje konkurrencevilkårene, hvis det er sandsynligt, at den vil forbedre modtagerens konkurrencemæssige stilling i forhold til andre virksomheder, som den konkurrerer imod [77].
Luxembourg transfer pricing rules, which are the basis on which the Circular has been issued, are part of the general tax system, as they apply between related group companies engaged in the carrying out of intercompany transactions.
I det omfang den anfægtede afgørelse fritager FFT fra en skattegæld, som selskabet normalt skulle have betalt ifølge de almindelige selskabsskatteregler i Luxembourg, fordrejer eller truer denne afgørelse med at fordreje konkurrencen ved at styrke FFT's og Fiat-koncernens finansielle stilling, således at den fjerde betingelse for, at der foreligger statsstøtte, ligeledes er opfyldt i denne sag.
Luxembourg transfer pricing rules do not derogate from the general tax system, as they respect in practice the OECD TP Guidelines and are aimed at identifying an arm's length profit.
Med hensyn til den tredje betingelse for, at der foreligger statsstøtte, redegør Kommissionen i afsnit 7.2 for årsagerne til, at den mener, at den anfægtede afgørelse giver FFT en selektiv fordel, i det omfang den medfører en nedsættelse af den skat, som selskabet skal betale til Luxembourg, idet FFT undgår at betale den skat, selskabet skulle have betalt ifølge de almindelige selskabsskatteregler, hvorved foranstaltningen opfylder alle betingelserne for, at der foreligger støtte efter artikel 107, stk. 1, i TEUF.
As regards the doubt of the Commission expressed in the Opening Decision on the choice of the transfer pricing methodology, FFT submits that the TNMM is a generally accepted OECD approved methodology that is consistent with the general tax system in Luxembourg.
Forekomst af selektiv fordel
The wide use of the TNMM has been acknowledged by the Commission, as well as the fact that its application can raise complexities [69].
Følgende gælder efter fast retspraksis: »Traktatens artikel 107, stk. 1, kræver herved en stillingtagen til, om en statslig foranstaltning som led i en bestemt retlig ordning kan begunstige« visse virksomheder eller visse produktioner »i forhold til andre virksomheder, der under hensyntagen til det formål, der forfølges med den pågældende foranstaltning, befinder sig i en tilsvarende faktisk og retlig situation.
There is a lack of guidance on certain detailed aspects, but the Commission claims the right to resolve controversial transfer pricing issues based on its own view as to how the TNMM should be applied in this case.
I bekræftende fald opfylder den pågældende foranstaltning den betingelse om selektivitet« [78].
In addition, FFT's tax profit is aligned with the statutory profit which further confirms that the use of the TNMM did not provide any economic advantage to FFT.
I sager på skatteområdet har Domstolen udformet en analyse i tre faser for at fastslå, om en bestemt skatteforanstaltning er selektiv [79].
According to FFT, tax authorities should be allowed a certain margin of appreciation when applying the TNMM, which, as far as the determination of the taxable profit is concerned, never leads to one single outcome, but to the identification of a range of valid results.
For det første bør det bestemmes, hvad der er den almindelige eller normale skatteordning i den pågældende medlemsstat, den såkaldte »referenceordning«.
Accordingly, the difference between the taxable income obtained by FFT (and accepted by the Luxembourg tax authorities) and the alleged taxable income according to the Commission should not be considered an advantage for State aid purposes.