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Author: M. Petutschnig Publisher: ISBN: Category : Languages : en Pages :
Book Description
Based on a thorough analysis of the formulary apportionment procedure proposed by the Common Consolidated Corporate Tax Base (CCCTB) draft directive, this article evaluates the interaction between the proposed CCCTB concept and existing/future anti-treaty shopping measures, especially Limitation on Benefits (LoB) clauses. Corporate groups that are taxed according to the CCCTB concept would regularly fail the ownership and base erosion tests of standard LoB clauses. Therefore, the treaty benefits would be denied. This interplay is especially critical for the future of tax relations between the EU Member States and the US since their bilateral treaties predominately use LoBs. The findings, however, are not limited to these relations but are of worldwide interest since OECD Base Erosion and Profit Shifting (BEPS) Action 6 proposes the introduction of a LoB Clause to the OECD Model Convention. Irrespective of the substantial legal uncertainty relating to the compatibility of LoB clauses with EU law, this article shows that both the existing LoB clause as well as that proposed by BEPS Action 6 are incompatible with the CCCTB concept. The most feasible way of bringing these two layers of corporate income tax rules into accordance with each other seems to be by way of a harmonised EU-wide approach to negotiating new and renegotiating existing tax treaties with third countries conducted by the EU Commission.
Author: M. Petutschnig Publisher: ISBN: Category : Languages : en Pages :
Book Description
Based on a thorough analysis of the formulary apportionment procedure proposed by the Common Consolidated Corporate Tax Base (CCCTB) draft directive, this article evaluates the interaction between the proposed CCCTB concept and existing/future anti-treaty shopping measures, especially Limitation on Benefits (LoB) clauses. Corporate groups that are taxed according to the CCCTB concept would regularly fail the ownership and base erosion tests of standard LoB clauses. Therefore, the treaty benefits would be denied. This interplay is especially critical for the future of tax relations between the EU Member States and the US since their bilateral treaties predominately use LoBs. The findings, however, are not limited to these relations but are of worldwide interest since OECD Base Erosion and Profit Shifting (BEPS) Action 6 proposes the introduction of a LoB Clause to the OECD Model Convention. Irrespective of the substantial legal uncertainty relating to the compatibility of LoB clauses with EU law, this article shows that both the existing LoB clause as well as that proposed by BEPS Action 6 are incompatible with the CCCTB concept. The most feasible way of bringing these two layers of corporate income tax rules into accordance with each other seems to be by way of a harmonised EU-wide approach to negotiating new and renegotiating existing tax treaties with third countries conducted by the EU Commission.
Author: Félix Alberto Vega Borrego Publisher: Kluwer Law International B.V. ISBN: 9041161430 Category : Law Languages : en Pages : 338
Book Description
Upfront planning for international structures is crucial to ensure coverage under bilateral tax treaties. However, because treaty shopping – whereby a third-party national or a corporation sets up a shell company in order to minimize or eliminate income tax – can potentially be facilitated by taking advantage of double taxation conventions, companies must carefully scrutinize and comply with requirements found in the limitation on benefits (LOB) clauses in tax treaties. This second edition of the only publication directly analysing the legal framework and application of LOB clauses in double taxation conventions adds detailed coverage of such major recent developments as the recent tax treaties concluded between the United States (US) and European Union (EU) Member States, the last version of the US Model Tax Convention (2016), the OECD/G20 project on Base Erosion and Profit Shifting (BEPS), and relevant new rulings handed down by the European Court of Justice. Among the subjects and topics covered are the following: – definition of the concepts of person and residence provided in the OECD model; – concept of beneficial owner; – application of domestic anti-avoidance rules; – adoption of specific provisions to counter the phenomenon of treaty shopping; – determination of sufficient nexus with the state of residence or a real business purpose;and – possible consequences of the incompatibility of LOB clauses with EU law. This new edition will continue to provide tax attorneys, tax professionals, and government officials with the perspective needed for effective decision-making in this realm of international taxation. Academics and researchers in taxation will also appreciate the in-depth and up-to-date coverage of this important subject.
Author: Dennis Weber Publisher: Kluwer Law International B.V. ISBN: 9041192689 Category : Law Languages : en Pages : 272
Book Description
In October 2016, the European Commission relaunched its plan to harmonize national income tax systems via the Common Consolidated Corporate Tax Base (CCCTB), perhaps the most ambitious reform of EU tax law ever attempted. This timely book offers an early analysis of this important proposal and its implications, covering issues such as the project’s scope and main elements, international considerations, the relationship with OECD’s base erosion and profit shifting (BEPS) initiative, consolidation, and anti-abuse rules. With carefully selected papers first presented at a January 2017 conference hosted by the Amsterdam Centre for Tax Law, this volume focuses on such topics and issues as the following: – ways in which the proposed CCCTB is designed to preserve the competence of Member States to set their own tax rates; – reduction of the administrative burden for multinational companies; – incentives for research and development; – automatic cross-border relief within the EU; – detailed analysis of the proposal’s formula apportionment regime; – proposed new controlled foreign company (CFC) rules; and – interest limitation rule. Because of the commitment of many Member States to keep their corporate income tax systems competitive on a stand-alone basis, the proposed CCCTB is enormously controversial. This book provides authoritative insights into problems likely to arise and discusses the prospects of how the proposal is likely to be implemented. Thus, this book proves to be of immeasurable value to taxation policymakers, practitioners, and academics.
Author: Christiana HJI Panayi Publisher: Bloomsbury Publishing ISBN: 1849469547 Category : Law Languages : en Pages : 384
Book Description
This book examines recent developments and high-profile debates that have arisen in the field of international tax law and European tax law. Topics such as international tax avoidance, corporate social responsibility, good governance in tax matters, harmful tax competition, state aid, tax treaty abuse and the financial transaction tax are considered. The OECD/G20 project on Base Erosion and Profit Shifting (BEPS) features prominently in the book. The interaction with the European Union's Action Plan to strengthen the fight against tax fraud and tax evasion is also considered. Particular attention is paid to specific BEPS deliverables, exploring them through the prism of European Union law. Can the two approaches be aligned or are there inherent conflicts between them? The book also explores whether, when it comes to aggressive tax planning, there are internal conflicts between the established case law of the Court of Justice and the emerging policy of the European institutions. By so doing it offers a review of issues which are of constitutional importance to the European Union. Finally, the book reflects on the future of international and European tax law in the post-BEPS world.
Author: Lynne Oats Publisher: Bloomsbury Publishing ISBN: 1526519577 Category : Business & Economics Languages : en Pages : 709
Book Description
The book provides a clear introduction to international taxation and presents its material in a global context, explaining policy, legal issues and planning points central to taxation issues, primarily from the viewpoint of a multinational group of companies. It uses examples and diagrams throughout to aid the reader's understanding and offers more in-depth material on many important areas of the subject. Traditionally published every 2 years in both print and digital formats, this content is a core requirement for student reading lists at both undergraduate and post graduate level. Fully updated to cover all new tax legislation and developments in light of the OECD BEPS project implementation, key areas to be included in this new edition are: - changes proposed by BEPS 2.0 in relation to taxation and the digital economy, including Pillar Two and the proposed new UN Model Article 12B; - further progress on the implantation of OECD Base Erosion and Profit Shifting implementation, including: -- an update on the implementation of BEPS recommendations including artificial avoidance of permanent establishment status and prevention of treaty abuse; -- the implementation of transfer pricing documentation and country-by-country reporting; -- multilateral instrument implementation; - the impact of Covid-19 on international taxation; - further developments in European direct taxation including the transparency package, directives on anti-tax avoidance and the common corporate tax base and state aid cases (Apple in particular) and updates to the Directive on Administrative Cooperation, and the new communication on Business Taxation for the 21st Century. - Proposals in relation to the taxation of digital business, in particular the OECD's unified approach and the UN modifications to the Model Double Taxation Convention. - Proposals for a global minimum corporate tax rate to curb base erosion and tax competition.
Author: Christiana HJI Panayi Publisher: Edward Elgar Publishing ISBN: 1788110846 Category : Law Languages : en Pages : 672
Book Description
Offering a comprehensive exploration of EU taxation law, this engaging Research Handbook investigates the associated legal principles in the context of both direct and indirect taxation. The important issues and debates arising from these general principles are expertly unpicked, with leading scholars examining the status quo as well as setting out a clear agenda for future research.
Author: Joann Martens-Weiner Publisher: Springer Science & Business Media ISBN: 0387294872 Category : Business & Economics Languages : en Pages : 127
Book Description
Having spent almost fifty years of my life defending the separate accou- ing, arm's length pricing method, I have to admit that I was somewhat surprised to be asked to contribute to a book suggesting that the European Union might do well to consider adopting a formulary approach to deal with the taxation of inter and intra company transactions. I was even more surprised to see the invitation coming from Ms. Joann Weiner an ardent co-defender of arm's length pricing and my strong right arm in that regard while we both served in the U.S. Treasury Department in the mid '90s. The book gives Ms Weiner the opportunity to comment frankly from an insider's perspective of the many admitted problems of the arm's length system which could be avoided by a formulary approach. Ms. Weiner brings to this project a thorough expert knowledge of the b- efits and shortfalls of each of the systems she discusses - separate accounting v. formulary apportionment. Who better to decide to give qualified support to formulary than someone who organized a U.S. Treasury conference to defend arm's length pricing against a Congressional challenge in favor of formulary apportionment.
Author: M. Petutschnig
Author: M. Petutschnig
Author: Félix Alberto Vega Borrego
Author: Dennis Weber
Author: Netherlands
Author: United States. Internal Revenue Service
Author: Christiana HJI Panayi
Author: Jerome R. Hellerstein
Author: Lynne Oats
Author: Christiana HJI Panayi
Author: Joann Martens-Weiner