natgillin/translations-raw huggingface dataset:
Part one sets out why FFT believes that the Commission misapplied the OECD transfer pricing principles to the FFT APA.
Na tej podlagi je za določitev ustreznega količnika beta smiselno upoštevati vse družbe, ki so dejavne v sektorju finančnih storitev.
Part two describes why the Opening Decision fails to meet the required legal standard to establish selectivity under Article 107(1) of the TFEU.
Uporaba 25. centila tržnega območja je skladna s smernicami OECD za določanje transfernih cen, v skladu s katerimi vse točke v tržnem območju prinašajo cene/dobiček po tržnem načelu.
Misapplication of the OECD principles
Poleg tega se ocenjuje, da družba FFT prevzema omejena tveganja, ker dela izključno za družbe skupine, ker so dejavnosti skupine zelo povezane in ker je v interesu matične družbe, da podpira dejavnosti hčerinskih družb.
First, contrary to the assertion of the Commission in the Opening Decision, FFT submits that there was no agreement with the Luxembourg tax administration on a fixed taxable income.
Sedmič, družba FFT se ne strinja s pomisleki Komisije, da je donos lastnega kapitala v višini 0,87 % prenizek.
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.
Presežni lastni kapital, to je lastni kapital, ki ni nujen za pokrivanje tveganj, ki jih v okviru svoje dejavnosti financiranja prevzema družba FFT, se bodisi posodi drugi družbi skupine, ki potrebuje dodatno financiranje, bodisi uporabi za financiranje stroškov poslovanja družbe FFT v okviru zagotavljanja finančnih storitev.
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.
Zato mora biti plačilo prilagojeno kratkoročnim naložbam likvidnih sredstev.
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.
Analiza selektivnosti, ki jo je opravila Komisija
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.
Družba FFT trdi, da čeprav je analiza Komisije v zvezi s spoštovanjem neodvisnega tržnega načela pravilna, v sklepu o začetku postopka ni nobenega dokaza, da je bila družba FFT deležna ugodnejše obravnave kot kateri koli drugi luksemburški davčni zavezanec v primerljivem pravnem in dejanskem položaju.
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.
V sklepu o začetku postopka ni nobene primerjave med položajem družbe FFT in položajem drugih luksemburških davčnih zavezancev, na primer 21 drugih davčnih zavezancev, katerih vnaprejšnje cenovne sporazume je preučila Komisija.
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.
Družba FFT je lahko sklenila vnaprejšnji cenovni sporazum z luksemburško davčno upravo tako kot vsak drug luksemburški davčni zavezanec, ki je dejansko prisoten v Luksemburgu.
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.
Še več, ker je skupna stopnja davka od dohodkov pravnih oseb v Luksemburgu za družbo FFT znašala 28,8 % (za poslovno leto 2011), medtem ko glavna stopnja davka od dohodka pravnih oseb v Italiji znaša približno 33 %, bi višji dobiček družbe FFT pomenil višje davčno priznane stroške v Italiji, saj je družba FFT večino posojil dodelila družbi Fiat Finance S.p.A.
FFT constitutes a less complex entity with respect to the other group companies whose margins may be tested with the TNMM.
Zato ni jasno, kakšno vrsto „pomoči“ je dobila cela skupina, če je družba FFT v Luksemburgu prijavila nižji dobiček, zaradi česar je imela v Italiji nižjo davčno olajšavo za obresti.
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.
Drugi sklop pripomb družbe FFT
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.
Vnaprejšnji cenovni sporazum ne daje nobene „prednosti“
Finally, FFT notes that the OECD TP Guidelines acknowledge that transfer pricing is not an exact science.
Drugi sklop pripomb družbe FFT se začne s pojasnilom, kako pomembni so vnaprejšnji cenovni sporazumi na splošno; veljajo za del splošnega davčnega sistema in luksemburški davčni sistem jih sprejema.
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.
Vnaprejšnji cenovni sporazum FFT upošteva smernice, določene v okrožnici, in ne odstopa od luksemburškega splošnega davčnega sistema.
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’.
Petletno trajanje vnaprejšnjega cenovnega sporazuma FFT je skladno s standardnim trajanjem vnaprejšnjih cenovnih sporazumov, sklenjenih v drugih državah članicah.
FFT indicates that they have nevertheless used their best efforts to estimate an arm's length remuneration for their activities.
Luksemburška pravila o transfernih cenah, ki so podlaga za okrožnico, so del splošnega davčnega sistema, saj se uporabljajo med povezanimi družbami v skupini v okviru transakcij med podjetji.
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.
Luksemburška pravila o transfernih cenah ne odstopajo od splošnega davčnega sistema v tem smislu, da v praksi upoštevajo smernice OECD za določanje transfernih cen in so namenjena ugotavljanju dobička po tržnem načelu.
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.
V zvezi z dvomi, ki jih je Komisija izrazila v sklepu o začetku postopka glede izbire metode za določanje transfernih cen, družba FFT trdi, da je MTMN splošno sprejeta metodologija, ki jo je odobril OECD in je v skladu z luksemburškim splošnim davčnim sistemom.
Also the Circular compares companies performing intermediary financing activities with independent financial institutions.
Komisija je priznala, da se metoda MTMN široko uporablja in da njena uporaba lahko povzroči težave [69].
The Circular also requires taxpayers performing intra-group financing transactions to have sufficient equity to support their financing risks from such transactions.
Smernice za nekatere podrobne vidike niso zadostne, vendar si Komisija pridržuje pravico, da sporna vprašanja transfernih cen reši s svojo vizijo tega, kako bi bilo treba metodo MTMN uporabiti v obravnavani zadevi.
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.
Poleg tega je obdavčljivi dobiček družbe FFT usklajen s statutarnim dobičkom, s čimer se ponovno potrjuje, da uporaba metode MTMN družbi FFT ne prinaša nobene ekonomske prednosti.
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.
Po mnenju družbe FFT bi morali imeti davčni organi določeno stopnjo diskrecije, kadar uporabljajo metodo MTMN, ki v zvezi z določitvijo obdavčljivega dobička nikdar ne da enega samega rezultata, ampak vrsto veljavnih rezultatov.
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.
Zato razlika med obdavčljivim dohodkom, ki ga je izračunala družba FFT (in so ga sprejeli luksemburški davčni organi), in domnevnim obdavčljivim dohodkom po mnenju Komisije ne bi smela šteti za prednost v smislu pravil o državni pomoči.
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].
Taka prednost nastane le, če ukrep očitno odstopa od standardnih pravil za določanje transfernih cen in prekorači diskrecijsko pravico davčne uprave [70].
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.
V nasprotnem primeru bi šlo za vmešavanje Komisije v pristojnosti države članice na področju obdavčenja.
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.
Nazadnje družba FFT trdi, da bi morala Komisija pri ocenjevanju obstoja prednosti upoštevati celotni učinek „na skupino“.
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.
S tega vidika skupina Fiat nima nobene prednosti, saj se kakršno koli povečanje davčne osnove v Luksemburgu izravna z višjo davčno olajšavo v drugih evropskih državah (zadnja leta zlasti v Italiji).
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.
Po mnenju družbe FFT je Komisija ta učinek priznala v več odločbah [71].
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].
Neobstoj „selektivnosti“
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.
Po mnenju družbe FFT referenčni sistem, ki ga je treba upoštevati za oceno selektivnosti, lahko vključuje samo družbe, za katere veljajo pravila o transfernih cenah, to je družbe, ki poslujejo samo s povezanimi tretjimi osebami.
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.
To je priznano v odločbi Komisije o shemi Groepsrentebox [72], v kateri trdi, da so povezana podjetja glede dejavnosti dolžniškega financiranja v dejanskem in pravnem položaju, ki ni primerljiv s položajem nepovezanih podjetij.
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.
Zato bi Komisija, da bi dokazala selektivnost, morala dokazati, da je družba FFT vnaprejšnji cenovni sporazum dobila pod drugačnimi pogoji, kot veljajo za druge luksemburške subjekte v skupini, ki opravljajo dejavnosti financiranja.
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.
Vendar je v okrožnici pojasnjeno, da so vnaprejšnji cenovni sporazumi na voljo vsem družbam finančnih skupin.
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.
Zato ni selektivnosti.
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.
Komisija praviloma sprejema davčna stališča kot orodje, s katerim se davčnim zavezancem zagotovita pravna varnost in predvidljivost v zvezi z njihovim davčnim položajem.
Moreover, the Circular makes a clear reference to financial service providers.
Davčna stališča, ki jih sprejema luksemburška davčna uprava, niso diskrecijska, saj spoštujejo načela iz okrožnice, ki se izrecno sklicuje na neodvisno tržno načelo, opredeljeno v členu 9 vzorčne davčne konvencije OECD, ter zagotavlja smernice in pojasnila glede minimalnih kapitalskih zahtev in analize transfernih cen, ki jih mora spoštovati luksemburška družba, ki opravlja dejavnost financiranja znotraj skupine.
On that basis, it is reasonable to consider a set of companies active in the financial services industry to determine an appropriate beta.
Zato je diskrecijska pravica luksemburške davčne uprave, če jo sploh ima, omejena s smernicami in okrožnico.
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.
Poleg tega je to omejeno polje proste presoje, prepuščeno davčni upravi, del izvajanja smernic OECD za določanje transfernih cen.
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.
Ta preprosti element sam po sebi ne more povzročiti obstoja državne pomoči.
Seventh, FFT does not concur with the Commission's doubt that the 0,87 % return on equity is too low.
Poleg tega družba FFT trdi, da se vnaprejšnji cenovni sporazum FFT redno pregleduje, njegovo najdaljše obdobje veljavnosti pa je pet let.
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.
Družba FFT trdi še, da Komisija ni dokazala, da je vnaprejšnji cenovni sporazum FFT z uporabo metode MTMN odstopal od drugih davčnih stališč, sklenjenih z družbami v položaju, ki je primerljiv s položajem družbe FFT.
As such, it should be remunerated in line with short-term liquidity investments.
Po mnenju družbe FFT ni nobenega dvoma, da bi primerljiva družba, ki bi bila v podobnem položaju kot ona, lahko zaprosila za davčno stališče in določila svoj obdavčljivi dobiček na podlagi metode MTMN.
The Commission's selectivity analysis
Ker za družbo FFT in primerljive družbe velja isti davčni sistem, ni smiselno ugotavljati, ali je bila metoda za določitev transfernih cen, uporabljena za družbo FFT, skladna s smernicami OECD za določanje transfernih cen (kar je vsekakor bila) ali ne.
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.
Dejanski položaj družbe FFT je bistveno drugačen od položaja, ugotovljenega v odločbah o centrih za usklajevanje.
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.
Po mnenju družbe FFT se sklep o začetku postopka občutno razlikuje od predhodnih odločb, v katerih je Komisija izpodbijala uporabo metode za določanje transfernih cen (to je metode dodatka na stroške) kot davčnega ukrepa, ki je omogočil selektivno prednost [73].
FFT was entitled to an APA from the Luxembourg tax administration, like any other Luxembourg taxpayer having a real presence in Luxembourg.
V teh odločbah je bila shema na voljo le davčnim zavezancem, ki so izpolnjevali določene zahteve, medtem ko Komisija v sklepu o začetku postopka izpodbija samo uporabo metode MTMN, to je posebno določitev obdavčljivega dobička v okviru postopka vnaprejšnjega cenovnega sporazuma, ki je na voljo vsem luksemburškim davčnim zavezancem, ki opravljajo dejavnosti financiranja s povezanimi subjekti.
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.
Poleg tega se je v teh odločbah dohodek, ugotovljen z metodo dodatka na stroške, lahko zelo razlikoval od statutarnega dobička, kar ne velja za družbo FFT, katere dohodek, ugotovljen z metodo MTMN, je skladen z računovodskim izidom družbe.
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.
Prav tako uporaba metode za določitev transfernih cen v predhodnih odločbah očitno ni bila skladna s smernicami OECD za določanje transfernih cen.
FFT's second set of comments
V obravnavani zadevi te smernice niso kršene.
The APA does not confer an ‘advantage’
Vendar, kot je bilo ugotovljeno v odločbah o centrih za usklajevanje, smernice OECD za določanje transfernih cen prav tako ne vsebujejo natančnih navodil za določanje transfernih cen za določene dejavnosti, ki jih izvaja družba FFT (kot sta financiranje in zakladništvo).
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.
Poleg tega družba FFT trdi, da Komisija prav tako ni upoštevala dejstva, da je vnaprejšnji cenovni sporazum FFT temeljil na ekonomski študiji, skladni s smernicami OECD za določanje transfernih cen, kar posledično dokazuje, da dobiček ni bil določen samovoljno in da luksemburški davčni organi niso izvajali nikakršne diskrecijske pravice.
The FFT APA follows the guidance contained in the Circular and does not depart from the Luxembourg general tax system.
ODGOVOR LUKSEMBURGA NA PRIPOMBE TRETJIH OSEB
The 5-year duration of the FFT APA is in line with the standard length of APAs concluded in other Member States.
Luksemburg je v dopisu z dne 5. januarja 2015 navedel, da se popolnoma strinja s pripombami skupine Fiat.
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.
OCENA IZPODBIJANEGA UKREPA
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.
Obstoj pomoči
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.
V skladu s členom 107(1) PDEU je vsaka pomoč, ki jo dodeli država članica, ali kakršna koli vrsta pomoči iz državnih sredstev, ki izkrivlja ali bi lahko izkrivljala konkurenco z dajanjem prednosti posameznim podjetjem ali proizvodnji posameznega blaga, nezdružljiva z notranjim trgom, kolikor prizadene trgovino med državami članicami.
The wide use of the TNMM has been acknowledged by the Commission, as well as the fact that its application can raise complexities [69].
V skladu z ustaljeno sodno prakso morajo biti za opredelitev državne pomoči v smislu člena 107(1) PDEU izpolnjeni vsi pogoji iz te določbe [74].
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.
Da bi bilo mogoče ukrep opredeliti kot državno pomoč v smislu te določbe, mora biti ukrep v skladu z ustaljeno prakso, prvič, državen ali iz državnih sredstev, drugič, tak, da lahko prizadene trgovino med državami članicami, tretjič, dajati selektivno prednost podjetju, in četrtič, izkrivljati konkurenco ali omogočati izkrivljanje konkurence [75].
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.
Kar zadeva prvi pogoj za obstoj državne pomoči, sporno davčno stališče je izdala Administration des contributions directes, ki je del davčne uprave Velikega vojvodstva Luksemburg.
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.
V tem davčnem stališču luksemburška davčna uprava sprejeme metodo za pripis dobička družbi FFT znotraj skupine Fiat, ki jo je predlagal davčni svetovalec skupine, ki je za luksemburško davčno upravo zavezujoča pet let in na podlagi katere družba FFT vsako leto izračuna znesek davka od dohodkov pravnih oseb, ki ga mora plačati v Luksemburgu.
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.
Sporno davčno stališče je torej mogoče pripisati Luksemburgu.
Such an advantage only arises where the measure amounts to a flagrant departure from standard transfer pricing rules and goes beyond the margin of appreciation of the tax administration [70].
Kar zadeva financiranje ukrepa iz državnih sredstev, v skladu z ustaljeno sodno prakso Sodišča ukrep, s katerim javni organi nekaterim podjetjem odobrijo davčno oprostitev, ki te upravičence postavlja v ugodnejši finančni položaj kot druge davčne zavezance, čeprav ne vključuje pozitivnega prenosa državnih sredstev, pomeni državno pomoč [76].
Otherwise, the Commission would interfere with the taxing powers of a Member State.
Komisija bo v oddelku 7.2 prikazala, da se je zaradi spornega davčnega stališča znižal davek, ki bi ga morala družba FFT plačati v Luksemburgu, z odstopanjem od davka, ki bi ga družba FFT v nasprotnem primeru morala plačati na podlagi splošnega sistema davka od dohodkov pravnih oseb v Luksemburgu.