Indici riviste di Diritto Tributario n. 2_2015

Indici delle riviste di Diritto Tributario

n. 2/2015

(Summary of Tax Law Legal Journals)

(edited by) a cura di Mario Grandinetti (Università degli Studi di Torino)

“SAPIENZA” UNIVERSITÀ DI ROMA

“SAPIENZA” UNIVERSITY OF ROME DIPARTIMENTO DI SCIENZE POLITICHE

DEPARTMENT OF POLITICAL SCIENCES

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RIVISTA DI DIRITTO TRIBUTARIO INTERNAZIONALE INTERNATIONAL TAX LAW REVIEW

   

Indice

Table of contents  

   

3 2013 September/December            Sezione I – Dottrina Section I – Accademic Essays Carlos María López Espadafor

Premesse internazionali dell’evoluzione della sovranità tributaria

Clelia Buccico

The impact of Community legislation and the rulings of the Court of Justice

in the field of direct taxation

Marco Greggi

Coordinamento fiscale e doppie deduzioni internazionali nel quadro

dell’iniziativa BEPS

Indice/Table of Contents No. 2/2013

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Maria Pia Nastri

Conferimento d’azienda e cessione di partecipazioni: configurabilità di

un trasferimento d’azienda alla luce dell’orientamento della Cassazione e

della Corte di Giustizia

******

Sezione II – Documenti commentati Section II – Commented documents Gracia Mª Luchena Mozo La definitiva configuración del estatuto del no residente comunitario en la

imposición directa tras la sentencia de 3 de septiembre de 2014,

comisión/españa, (c-127/12)

Alessandro Vicini Ronchetti

La Corte di Giustizia si pronuncia sulla integrazione "orizzontale" dei

redditi. Nota a Corte di Giustizia dell’Unione Europea - Sezione seconda,

Sentenza, 12 giugno 2014, Cause riunite C-39/13, C-40/13, C-41/13

******

Sezione III – Appunti e rassegne Section III – Notes and Surveys

Indice/Table of Contents No. 2/2013

Page 3 of 3

Chiara Fontana

The evolution of european fiscal policy and harmonized tax

Anna Rita Ciarcia

La detrazione dell’IVA e le “attività preparatorie” all’esercizio d’impresa

Gianmaria Frigo

La nozione di «Beneficial Owner» nella giurisprudenza nazionale tra

problematiche esegetiche e difficoltà probatorie

Fernando Marotta

La determinazione della base imponibile della cooperativa italiana e spagnola

alla luce delle agevolazioni fiscali applicabili nei due paesi

Bulletin for International Taxation

Issue 3 - 2015

United Nations

Report on the Tenth Session of the United Nations Committee of Experts on International Cooperation in Tax Matters - Arnold, B.J.

This article reports on the Tenth Session of the United Nations Committee of Experts on International Cooperation in Tax Matters regarding the various issues considered in relation to the next update of the UN Model and the Commentaries on the UN Model, which are planned to be published in 2017.

OECD; International

Treaty Shopping and Limitation on Benefits Articles in the Context of the OECD Base Erosion and Profit Shifting Project - Jiang, Q.

The author, in this article, considers the concept of limitation on benefits articles as advanced by the OECD and the United States in relation to treaty shopping, with special emphasis on the implications of Action 6 of the OECD Base Erosion and Profit Shifting initiative.

Peru

The Role of the UN Model in Peru’s Tax Treaties - Luyo Acosta, K.

In this article, the author examines the influence of the UN Model on Peru’s treaty practice, with particular emphasis on the extent to which Peru has adopted the provisions of the UN Model rather than those of the OECD Model.

Africa

Tax Policy Trends in Africa – Commentary on the Major Tax Developments in 2013 and 2014 - Munyandi, K.; Hamzaoui, R.; Gutiérrez Puente, C.; Ogazón Juárez, L.G.; Marinho, A. Trindade; Montes Ventura, M.; Naoum, M.; Muyaa, E.

The authors, in this article, comment on the most significant tax policy trends and developments that occurred in Africa in 2013 and 2014, together with providing an analysis, both theoretically and globally, of the relevant tax changes. The article also considers potential future tax policy developments in Africa.

International

Tax Amnesties as a Transitional Bridge to Automatic Exchange of Information - Urinov, V.

In this article, the author considers arguments for and against using tax amnesties as a way to transition effectively to the system of automatic exchange of information in accordance with the new global standard on automatic exchange of financial account information in tax matters as proposed by the G20 and the OECD.

South Africa

Hybrid Debt and Hybrid Equity Instruments and the Interest Limitation Rules in South Africa - Mazansky, E.

In this article, the author examines the South African tax rules relating to hybrid debt and hybrid equity instruments, particularly with a view either to disallowing deductions or taxing receipts. Some observations are also made on the related interest limitation rules, which prevent excessive interest deductions.

Germany

German Federal Tax Court Again Questions Constitutionality of Treaty Override - Hagemann, T.; Kahlenberg, C.

In a recently published decision, the German Federal Tax Court (Bundesfinanzhof, BFH) once again expressed doubts about the constitutionality of treaty overriding provisions. This article discusses the facts of the case and the reasoning of the Court, and provides a brief comment on the decision.

Germany

The Implementation of the “Authorised OECD Approach” under German Law and Its Relation to Tax Treaties Already in Force – Can the “Authorised OECD Approach” Be Applied Retrospectively? - Lingier, R.K.

In this article, the author examines the implementation of the Authorised OECD Approach (AOA) under German law and discusses whether the AOA can be applied retrospectively.

1

Bulletin for International Taxation

Issue 4/5 - 2015 International

President's Welcome - Kaka, P.F.

Meine Damen und Herren, dear IFA Colleagues, flushed with the success of the Mumbai Congress, it is my pleasure to present the 69th Congress of the International Fiscal Association (IFA) to be held in Basel from 30 August to 3 September 2015.

Switzerland; OECD

Switzerland in a Post-BEPS World - Danon, R.; Schelling, C.

The authors, in this contribution, consider the implications of the OECD Base Erosion and Profit Shifting project, on Swiss corporate tax policy. While they generally support the BEPS project, the authors believe that its implementation should also take national tax policies differences into account.

Switzerland; OECD

Potential Effects of the OECD Base Erosion and Profit Shifting Initiative on Swiss Transfer Pricing Rules and Swiss Companies - Stocker, R.

In this contribution, the author considers the implications of the Base Erosion and Profit Shifting initiative of the OECD with regard to Switzerland’s transfer pricing practice, Swiss companies and potential changes to Swiss tax law.

Switzerland

Swiss Tax Treaty Policy - Schelling, C.

In this article, the author presents an overview of Swiss tax treaty policy and comments on recent developments in this area.

2

Switzerland

Transparency and Exchange of Information with Switzerland – The Possibilities and Overview of the Legal Framework - Kapalle, U.

In this article, the author examines the Swiss legal framework for exchange of information in tax matters.

Switzerland

Private Tax Rulings in Switzerland - Niederer, C.; Dubach, M.

The authors, in this article, consider the private tax ruling system in Switzerland, together with the relevant aspects and implications of using the system.

Switzerland

The Taxation of Philanthropy in Switzerland: Current Status and Suggestions for Improvement - Oberson, X.

In this contribution, the author describes the current rules with regard to the taxation of philanthropic activities in Switzerland and makes various suggestions for improvements to the current regime. In this respect, the developments in EU law with regard to cross-border giving are also taken into account.

Switzerland

Trusts and Taxation in Switzerland - Gillioz, P.; Fragnière Meyer, N.

The authors, in this article, examine the treatment of trusts and the taxation of settlors and beneficiaries resident in Switzerland. They also explore the advantages and disadvantages of modifying trust deeds before and after the settlors and/or the beneficiaries move to Switzerland and become Swiss taxpayers.

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Switzerland

Practical Protection of the Fundamental Rights of Taxpayers - Desax, R.

In this article, the author examines selected practical aspects of the protection of the fundamental rights of taxpayers in Switzerland, together with the enforcement of these rights as well as obstacles that frequently arise in practice.

Switzerland

The Taxation of High-Net-Worth Individuals in Switzerland - Bader, D.; Seiler, C. (Corinna)

In this article, the authors provide an overview of the current Swiss tax regime for high-net-worth individuals (HNWIs) and of the important future developments on that matter.

Switzerland

Tax Incentives for Research and Development - Weber, D. (Dieter); Eichenberger, S.

In this article, the authors examine the Swiss rules aimed at encouraging research and development activities on the Swiss territory.

Switzerland

Relocation of a Company’s Business to Switzerland - Koch, H.; Keller, N.; Schmid, P.

In this contribution, the authors examine the various direct and indirect tax implications for a company considering relocating either itself or its operations to Switzerland.

4

Switzerland

Tax Considerations for M&A Transactions and Restructurings in Switzerland - Brauchli Rohrer, B.

This article details the principal tax considerations relevant for M&A transactions and restructurings in Switzerland. It explains the main reorganization schemes and their Swiss tax consequences, as well as the differences between asset deals and share deals from a Swiss tax point of view.

European Union

Neutrality and Territoriality – Competing or Converging Concepts in European Tax Law? - Schön, W.

This article is based on the Klaus Vogel Lecture delivered on 24 October 2014 at the Vienna University of Economics and Business. It criticizes the increasing recognition of territorial taxing rights in the jurisprudence of the ECJ and pleads strongly both for a unilateral discrimination test and the revival of the concept of coherence.

European Union

Neutrality and Territoriality – Competing or Converging Concepts in EU Tax Law? – Comment - Kroppen, H-K.

This contribution comments on the Klaus Vogel Lecture given on 24 October 2014 at the New Campus of the WU Vienna and published in this issue of Bulletin for International Taxation.

OECD; International

Public Discussion Draft on Interest Deductions Proposes Worldwide Interest Allocation Rules - Vleggeert, J.

This article examines the approach to tackle BEPS through the use of interest cost, which was presented in the OECD public discussion draft on interest deductions and other financial payments.

EC TAX

ISSUE 2 / 2015

'Plea for a New Tax Package', Michel Aujean, Issue 2, pp. 60–62

'Fiscal State Aids, Tax Base Erosion and Profit Shifting', Pierpaolo Rossi-Maccanico, Issue 2, pp. 63–77

'Improving the Arbitration Procedure under the EU Arbitration Convention (2)', Harm Mark Pit, Issue 2, pp. 78–95

'VAT on Private Use of Company Cars in Cross-Border Situations: Double or Non-taxation?', Madeleine Merkx, Issue 2, pp. 96–104

'The New EU VAT Rules on the Place of Supply of B2C E-Services: Practical Consequences - The German Example', Matthias Weidmann, Issue 2, pp. 105–118

'Tax Rulings, APAs and State Aid: Legal Issue', Anna Gunn, Joris Luts, Issue 2, pp. 119–125

EUROPEAN TAXATION ISSUE 2015 No. 1

Title: European Union - Commission Author: Ambagtsheer-Pakarinen, L. Title: European Union - Council Author: Ambagtsheer-Pakarinen, L. Title: European Union - Court of Justice Author: Ambagtsheer-Pakarinen, L. Title: European Union - Blueprint for a New Common Corporate Tax Base Author: Bellingwout, J.W. Title: International - The OECD Intangibles Project and the Concept of “Intangible Related Return” Author: Garbarino, C.; D'Avossa, M.

Title: European Union - Taxation of Cross-Border Supplementary Pensions: Still an Obstacle to the Free Movement of Workers in the European Union? Author: Grassi, C.M. Title: Poland - 2014 Income Tax Law Changes: New Taxation Rules for Partnerships Limited by Shares Author: Kudert, S.; Kopec, A.; Nagel, A. Title: CFE - Opinion Statement FC 14/2014 on the VAT Treatment of Vouchers Author: Confédération Fiscale Européenne Title: Greece - Legislation Requires Withholding Tax To Be Paid on Certain Payments to Branches Established in Greece but Not Payments between Greek Companies Author: Perrou, K. Title: Hungary - Government Presses Ahead with Controversial Sectoral Taxation Policy through the Introduction of an Advertisement Tax Author: Felkai, R.

European Taxation Journal

Latest Articles and NewsArticles

LuxembourgLuxembourg Reshapes Its Transfer Pricing Landscape - Hoor, O.R.

On 19 December 2014, the Luxembourg legislator adopted new transfer pricing legislation that formalizes the application of the arm’s length principle and the requirement for specific transfer pricing documentation. While the arm’s length principle was already firmly ingrained in Luxembourg tax law, the new rules further elevate the importance of transfer pricing. This article provides an overview of Luxembourg’s new transfer pricing landscape.

European UnionBEPS Impact on EU Law: Hybrid Payments and Abusive Tax Behaviour -Kokolia, E.; Chatziioakeimidou, E.

The authors, in this article, analyse the OECD’s deliverables from 16 September 2014 on Action 2, “Neutralising the effects of Hybrid Mismatch Arrangements” and Action 6 on “Preventing the Granting of Treaty Benefits in Inappropriate Circumstances”, as well as recently adopted relevant EU legislation. The authors consider whether targeted measures are necessary at the EU level to incorporate solutions proposed at the OECD level in order to tackle aggressive tax planning and corporate tax avoidance.

European UnionSecondary Establishments in EU VAT and Treaty Law - Bal, A.M.

This article compares the concept of secondary establishment for direct and indirect tax purposes, as defined in the OECD Model (2014), the UN Model (2011) and the EU VAT Directive (2006/112). It also examines recent developments regarding the interpretation of the fixed establishment concept by the ECJ and possible modifications to the permanent establishment concept stemming from current discussions on the taxation of the digital economy.

EU Update

European UnionCouncil - Ambagtsheer-Pakarinen, L.

Latest IssueNumber 2/3 - 2015

Articles

FranceRecent Transfer Pricing Developments -Gouthière, B.

This article summarizes recent transfer pricing amendments, including new reporting obligations intended to provide the tax authorities with more information in carrying out transfer pricing audits. Further, the article highlights recent court cases that indicate that the French tax courts are still very careful in ensuring that the tax authorities back up their adjustments with sufficient evidence.

ItalyRecent Tax Jurisprudence on the Concept of Beneficial Ownership for Tax Treaty Purposes - Avella, F.

This article provides an overview of recent Italian tax jurisprudence on beneficial ownership for tax treaty purposes. The aim is to find common threads, where existing, and to show, in general, how the Italian tax courts have been approaching the matter.

LuxembourgThe Luxembourg Private Foundation: A Flexible Tool for Private Wealth Management - Schaffner, J.; Trouiller, F.

This article outlines the tax implications of the private foundation, a flexible vehicle to manage assets and to guarantee the continuity of management of a family business, which will be introduced as a means of contributing to the development of the Luxembourg private banking sector.

United KingdomUK Anti-Avoidance - Where Are We Now?- Roxburgh, D.S.

This article sets out the UK tax law as it currently applies where tax is avoided on transactions solely within the UK taxing jurisdiction. The article does not deal with tax evasion but does explain the new provisions for the accelerated identification of avoidance, and collection of tax avoided.

LatviaLatvia as a Holding Company Jurisdiction -Kronbergs, Z.G.

European UnionCommission - Ambagtsheer-Pakarinen, L.

European UnionCourt of Justice - Ambagtsheer-Pakarinen, L.

CFE News

CFEOpinion Statement FC 15/2014 on Developing a Multilateral Instrument to Modify Bilateral Tax Treaties (BEPS Action 15) - Confédération Fiscale Européenne

This is an Opinion Statement on Developing a Multilateral Instrument to Modify Bilateral Tax Treaties (BEPS Action 15), prepared by the CFE Fiscal Committee and submitted to the OECD in December 2014. Action 15 (a multilateral instrument to modify bilateral tax treaties): CFE Opinion Statement 15/2014 of 19 December.

What's Going On In ...

BelgiumBelgian Ruling Commission’s Opinion on the Concept on 'Employer' within the Meaning of Article 15 of the OECD Model -Cools, A.

The author discusses a recently published ruling of the Belgian Ruling Commission on a number of implementation measures contained in article 15 of the OECD Model (2010), in particular, whether substance should prevail over form in defining the concept of 'employer' for the purposes of article 15, as well as the 'by or on behalf of' criterion.

ArmeniaHas the Pension Reform in Armenia Solved the Existing Problems or Merely Created a New, Bigger One? - Manukyan, M.

This note critically examines the new compulsory retirement savings plan that has been in force in Armenia since 1 July 2014.

BulgariaCorporate Income Tax Act Changes -Tzenova, L.

This note summarizes recent amendments to the Bulgarian Corporate Income Tax Act that became effective 1 January 2015, which were designed to harmonize Bulgarian tax legislation with the requirements of EU law.

This article examines aspects of the corporate tax system of relevance to holding companies, including the treatment of inbound income streams, transfer pricing, withholding taxes on outbound payments, interest, losses, group taxation and a notional interest deduction, mergers and demergers, company migration, Latvia’s tax treaty network and the tax rate and general tax climate, followed by a brief survey of non-tax issues.

MaltaMalta and the Hybrid Loan Amendment to the EU Parent-Subsidiary Directive -Vroom, A.

This article focuses on developments surrounding the hybrid loan amendment to the Parent-Subsidiary Directive (2011/96) and why this amendment may conflict with certain core principles of taxation in Malta.

Confederation Fiscale EuropeenneOpinion Statement ECJ-TF 4/2014 of the CFE on the decision of the European Court of Justice in SCA Group Holding BV et al. (Joined Cases C-39/13, C-40/13 and C-41/13), on the requirements to form a “fiscal unity” - CFE ECJ Task Force

This is an Opinion Statement prepared by CFE ECJ Task Force on SCA Group Holding BV et al. (Joined Cases C-39/13, C-40/13 and C-41/13), submitted to the European Court of Justice, the European Commission and the EU Council in December 2014.

European UnionThe (In)Compatibility of IP Box Regimes with EU Law, the Code of Conduct and the BEPS Initiatives - Mang, F

The author, in this article, evaluates whether or not the current IP box regimes in the European Union comply with primary EU law, the Code of Conduct for business taxation and the BEPS initiatives. In particular, the author analyses the IP box regimes in Luxembourg, the Netherlands and the United Kingdom.

SpainFiscal State Aid: Lights and Shadows in the 2013 Commission Decision on the Spanish Tax Lease System - Martínez Bárbara, G.

The author, in this article, critically analyses the European Commission’s ruling of 17 July 2013 finding that the Spanish tax lease system constitutes State aid to certain Economic Interest Groupings and their investors and

Greece New CFC Rules - Perrou, K.

This note examines in detail the new CFC rules in article 66 of the Income Tax Code, which entered into force on 1 January 2014, including their compatibility with EU law.

comments on the different elements that could be taken into account by the General Court in the annulment action procedure brought on 25 September 2013 by Spain in Spain v. Commission (Case T-515/13).

EU Update

European Union Commission - Ambagtsheer-Pakarinen, L.

European Union Council - Ambagtsheer-Pakarinen, L.

Human Rights Issues and Developments

European Union Some Recent Decisions of the European Court of Human Rights on Tax Matters - Baker, P.

In this note, the author examines recent decisions of the ECtHR relating to human rights and taxation including the application of the prohibition of double jeopardy regarding tax offences; the right to an oral hearing in tax surcharge cases; rights to enjoyment of property and the margin of appreciation; tax exemptions and tax deductions in relation to religious organizations; and confidentiality, freedom of speech and taxpayer information.

CFE News

CFE Opinion Statement ECJ-TF 3/2014 of the CFE on the decision of the European Court of Justice of 23 January 2014 in DMC (Case C-164/12), concerning taxation of unrealized gains upon a reorganization within the European Union - CFE ECJ Task Force

This is an Opinion Statement prepared by the ECJ Task Force of the CFE on the ECJ decision in DMC (Case C-164/12), submitted to the European Court of Justice, the European Commission and the EU Council in December 2014.

What's Going On In ...

Montenegro 2014 Tax Highlights - Milosavljevic, A.

In this note, the author describes tax amendments introduced in 2014, including changes to certain exemptions for newly incorporated entities, a new provision providing for a discount for taxes duly paid, as well as provisions on real estate transfer tax.

Turkey

and Riener Decisions on Turkish Tax Law- Yalt , B.

This note discusses the impact of the European Court of Human Rights

Riener (2006) on the case law of the Turkish Constitutional Court.

European Taxation Journal

Latest Articles and News Articles

United Kingdom The New “Google Tax”: The “Beginning of the End” for Tax Residence as a Connecting Factor for Tax Jurisdiction? - Cerioni, L.

The author, in this article, analyses the recently announced UK diverted profit tax and the potential issues that may arise in connection with its introduction, comparing it to the destination-based corporate tax that is increasingly being proposed in the literature.

France Citizenship and Taxation in France - Kallergis, A.

This article discusses the Andorra-France Income Tax Treaty (2013), which includes a specific clause to tackle the effects of “tax exile”, potentially paving the way for citizen-based taxation in the future.

Germany The Tax Treatment of Shareholder Loans in Germany - Weiss, M.

This article describes the tax treatment of shareholder loan impairments under German tax law within the context of the German national participation exemption regime. In particular, the changes introduced by a recent amendment to the German Income Tax Act are highlighted. The article traces the historical development leading up to the legislative change and analyses the key features of the new provision.

EU Update

European Union Commission - Ambagtsheer-Pakarinen, L.

European Union Court of Justice - Ambagtsheer-Pakarinen, L.

CFE News

CFE Joint AOTCA/CFE Opinion Statement FC 1/2015 on the OECD 2014 Public Discussion Draft on Preventing the Artificial Avoidance of PE Status (BEPS

Latest Issue Number 4 - 2015

Articles

Luxembourg Luxembourg Reshapes Its Transfer Pricing Landscape - Hoor, O.R.

On 19 December 2014, the Luxembourg legislator adopted new transfer pricing legislation that formalizes the application of the arm’s length principle and the requirement for specific transfer pricing documentation. While the arm’s length principle was already firmly ingrained in Luxembourg tax law, the new rules further elevate the importance of transfer pricing. This article provides an overview of Luxembourg’s new transfer pricing landscape.

European Union Secondary Establishments in EU VAT and Treaty Law - Bal, A.M.

This article compares the concept of secondary establishment for direct and indirect tax purposes, as defined in the OECD Model (2014), the UN Model (2011) and the EU VAT Directive (2006/112). It also examines recent developments regarding the interpretation of the fixed establishment concept by the ECJ and possible modifications to the permanent establishment concept stemming from current discussions on the taxation of the digital economy.

European Union BEPS Impact on EU Law: Hybrid Payments and Abusive Tax Behaviour - Kokolia, E.; Chatziioakeimidou, E.

The authors, in this article, analyse the OECD’s deliverables from 16 September 2014 on Action 2, “Neutralising the effects of Hybrid Mismatch Arrangements” and Action 6 on “Preventing the Granting of Treaty Benefits in Inappropriate Circumstances”, as well as recently adopted relevant EU legislation. The authors consider whether targeted measures are necessary at the EU level to incorporate solutions proposed at the OECD level in order to tackle aggressive tax planning and corporate tax avoidance.

EU Update

Action 7) - Confédération Fiscale Européenne

This is an Opinion Statement on the OECD 2014 Public Discussion Draft on Preventing the Artificial Avoidance of PE Status (BEPS Action 7), prepared by the CFE Fiscal Committee and agreed with AOTCA, submitted to the OECD in January 2015.

What's Going On In ...

European Union; International Tax Transparency – How To Make It Work? - Reibel, R.

The author reports on the 7th CFE Professional Affairs Conference held on 5 December 2014 in Paris, wherein three aspects of tax transparency were discussed: corporate country-by-country reporting (CBCR), mandatory disclosure of tax avoidance schemes and “cooperative compliance” in respect of the relationship between taxpayers and their advisers and the tax administration.

European Union The Taxation of Social Enterprise - Bakker, A.J.

This note looks at the nature of social enterprise, the problems encountered in this area, as well as the tax incentives available in various European countries.

Italy New Preferential Intellectual Property Regime - Gallo, G.; Balestieri, S.

This note summarizes the recently enacted Italian preferential intellectual property (IP) regime that has been in effect since 1 January 2015.

Luxembourg Clarification of the Tax Treatment of Limited Partnerships - Mischo, P.; Berna, P.

The Luxembourg tax administration issued a circular on 9 January 2015 clarifying the direct tax treatment of Luxembourg limited partnerships. This note comments on the impact of the circular on the alternative investment fund sector.

European Union Commission - Ambagtsheer-Pakarinen, L.

European Union Council - Ambagtsheer-Pakarinen, L.

European Union Court of Justice - Ambagtsheer-Pakarinen, L.

CFE News

CFE Opinion Statement FC 15/2014 on Developing a Multilateral Instrument to Modify Bilateral Tax Treaties (BEPS Action 15) - Confédération Fiscale Européenne

This is an Opinion Statement on Developing a Multilateral Instrument to Modify Bilateral Tax Treaties (BEPS Action 15), prepared by the CFE Fiscal Committee and submitted to the OECD in December 2014. Action 15 (a multilateral instrument to modify bilateral tax treaties): CFE Opinion Statement 15/2014 of 19 December.

What's Going On In ...

Armenia Has the Pension Reform in Armenia Solved the Existing Problems or Merely Created a New, Bigger One? - Manukyan, M.

This note critically examines the new compulsory retirement savings plan that has been in force in Armenia since 1 July 2014.

Belgium Belgian Ruling Commission’s Opinion of the Concept of 'Employer' within the Meaning of Article 15 of the OECD Model - Cools, A.

The author discusses a recently published ruling of the Belgian Ruling Commission on a number of implementation measures contained in article 15 of the OECD Model (2010), in particular, whether substance should prevail over form in defining the concept of 'employer' for the purposes of article 15, as well as the 'by or on behalf of' criterion.

Bulgaria Corporate Income Tax Act Changes - Tzenova, L.

This note summarizes recent amendments to the Bulgarian Corporate Income Tax Act that became effective 1 January 2015, which were designed to harmonize

Bulgarian tax legislation with the requirements of EU law.

Greece New CFC Rules - Perrou, K.

This note examines in detail the new CFC rules in article 66 of the Income Tax Code, which entered into force on 1 January 2014, including their compatibility with EU law.

INTERNATIONAL TAX REVIEW ISSUE 8 - OCTOBER 2014

o Finding Consensus Proves a Global Challenge Editorial

Gilleard, Matthew

o Taxpayer Concessions Included in Latest Draft of Russian CFC Regime News Analysis Stanley-Smith, Joe

o Spanish Tax Reforms Working, but Further Action Needed, Says OECD News Analysis Stanley-Smith, Joe

o Tax Planning: Source State Substance Requirements Economic Substance Korobchenko, Konstantin

o Men behind BEPS, The Saint-Amans, Pascal; Russo, Raffaele

o Winners of Americas Tax Awards 2014 Celebrate

o Changing Face of Tax Havens, The Tax Competition Gilleard, Matthew

o Treaty Definitions Proving a Headache for Indian Taxpayers Permanent Establishment Jain, Ajit Kumar; Ramamurthi, Kanchana; Jain, Mehul

o Non-Regulatory Scrutiny: The Tax Lifecycle's Latest Frontier Tax Technology Walsh, Chris; Pinamont, Bernadette

o OECD BEPS Reports - An Indian Perspective Asia Focus Nayak, Rajendra; Pai, Shweta

o GST in Singapore and Malaysia Asia Focus Shang, Lam Kok; Leng, Gan Hwee

INTERNATIONAL TAX REVIEW ISSUE 9 - NOVEMBER 2014

o Quarter of a Century Later, A Editorial Gilleard, Matthew

o Doubts over Italy's 1.5 Billion Voluntary Disclosure Target News Analysis Stanley-Smith, Joe

o Extending the G20 Tax Mandate News Analysis Owens, Jeffrey

o Bombay High Court Rules in Favour of Vodafone on Share Issue News Analysis Gilleard, Matthew

o Moscovici Signals Intention to Bring in Financial Transaction Tax News Analysis Stanley-Smith, Joe

o OECD Unveils Plan for 2014/2015 BEPS Work News Analysis Cunnigham, Ralph

o Time Is up for the Double-Irish News Analysis Cunningham, Ralph

o What Businesses Should Know about Europe's CCCTB EU: CCTB Eggert, Andreas

o International Tax Review at 25: What Has Changed in a Quarter of a Century Cunningham, Ralph; Gillean, Matthew

o Singapore: Global Intellectual Property Hub in Asia Singapore Koenig, Harvey

o France Asserts PE in Commissionaire Structures again Tax Disputes - Permanent Establishment Meier, Eric; Calloud, Ariane

o Transfer Pricing in the Gulf Cooperation Council GCC Al-Thani, Salman Bin Hassan

o Tax Leadership Crosses the Digital Divide Tax Technology Manzano, Nancy; Deputy, David

o Mexico Enacts Energy Reforms: Oil & Gas Mexican Energy Reform Rendon, Ricardo; Valenzuela, Eduardo

INTERNATIONAL TAX REVIEW ISSUE 10 - DECEMBER/JANUARY 2015

o EC Downgraded to Junck Status Editorial

Gilleard, Matthew

o Table of Contents

o People

o Deals of the Month

o North America Leads Global Increase in MAP Uptake News Analysis Stanley-Smith, Joe

o US Treasury Clarifies Position of Jurisdictions with Unsigned IGAs News Analysis Cunningham, Ralph

o India Advised Not to Appeal Vodafone Ruling News Analysis Stanley-Smith, Joe

o Thomson Reuters Honours Taxologists Taxologist Awards

o Global Tax 50 2014: The Leaders Creating an Impact around the World, The

o E-Tail in India: Controversy on Applying Operational Taxes India Lapsiwala, Divyesh; Vasa, Nilesh

o China Streamlines Taxpayer Services Compliance Reforms Jun, Wang

o Offsetting Expenses Incurred with Stock Option Plans Brazil - IFRS Bueno, Maria Isabel; Amadeu, Alessandro

o Digital Goods Enter the 21st Century of Taxation MOSS Asquith, Richard

o Kazakhstan Amends Tax Code from 2015 Kazakhstan Habershon, Kate; Kadyrov, Bakhytzhan

INTERNATIONAL VAT MONITOR Issue 2 - 2015

International

What Is a Supply for VAT Purposes? Reflections on Qantas Airways Ltd - Schenk, A.

European Union

VAT Committee – Guidelines 2014 - Annacondia, F.

This overview contains the Guidelines adopted by the VAT Committee on 24-25 February 2014 and 20 October 2014.

International

Overview of General Turnover Taxes and Tax Rates - Annacondia, F.

Almost all countries levy a general turnover tax, i.e. a tax on essentially all goods and services supplied by manufacturers, traders and service providers. Those turnover taxes are mostly levied under a VAT type of tax system and, in a decreasing number of cases, as a multi or single-stage (retail) sales taxes. This annex presents an overview of those general turnover taxes and the tax rates applicable on 1 January 2015.

European Union

VAT Grouping Schemes – Standpoint - Soares, C. Dias; Arnaldo, A.

In this article, the authors describe how VAT grouping schemes are designed in EU law and in the legal systems of the Member States, and assess how the guidelines provided by the European Commission and the constraints introduced by the jurisprudence of the ECJ shape those regimes. However, in spite of the positive assessment by the authors, several issues are highlighted as deserving attention in order to improve the status quo.

Italy

Split-Payment Mechanism for Public Bodies - La Grutta, S.

With the purpose of reducing the VAT gap, Italy introduced the split-payment mechanism as a VAT accounting method for supplies of goods and services made to public bodies. The author explains that this mechanism creates a constant excess input VAT position for suppliers of goods and services to public bodies, which is particularly worrying for these suppliers. Forming an important part of the economy of Italy, such suppliers have particular concerns regarding the repayment of any input VAT from the authorities, particularly during an economic crisis.

Italy

Tax Offence of Failure To Pay VAT - Harteveld, P.; Scotto d'Abusco, A.

Due to the persisting economic crisis, companies and other VAT registered persons increasingly struggle to cope with VAT payment deadlines and may fail to pay their VAT debt within the set deadlines. This failure, in certain circumstances, can be punished by Italian criminal tax law. Nevertheless the Italian Supreme Court seems to have, at least in more recent circumstances, taken a more lenient approach before considering a taxable person guilty. In this article, the authors provide a general overview of the criminal tax offence, and conclude with a brief description of some current and potential future developments.

INTERTAX ISSUE 4

'Ten Years of Marks & Spencer', Yariv Brauner, Ana Paula Dourado, Edoardo Traversa, Issue 4, pp. 306–314

'Tax Exemptions in Status of Forces Agreements', Robert F. van Brederode, Issue 4, pp. 315–332

'The UK’s New Diverted Profits Tax: Compliance with EU Law', Heather Self, Issue 4, pp. 333–336

'Tax Havens and Tax Shelters: A Legal View on the Cross-Border Intermediate Holding Companies within the EU', Thomas Ronfeldt, Issue 4, pp. 337–343

'Transfer Pricing in Africa', Gargouri Slim, Issue 4, pp. 344–354

'The Italian Tax Regime of Outbound Dividends Distributed to Foreign Investment Funds: An Analysis from a European Perspective', Luca Rossi, Marina Ampolilla, Issue 4, pp. 355–362

'Taxability of Non-compete Fees in India', Awanish Kumar, Anshul Rai, Issue 4, pp. 363–378

INTERTAX ISSUE 5

'Taxing Virtual Currency: Challenges and Solutions', Aleksandra Bal, Issue 5, pp. 380–394

'Transfer-Pricing and Game Theory', Lioubov Pogorelova, Issue 5, pp. 395–404

'Proportionality and Fair Taxation', Joao Dacio Rolim, Issue 5, pp. 405–409

'VAT Connecting Factors: Relevance of the Place of Supply', Antonio Vázquez del Rey, Issue 5, pp. 410–417

'Tax Havens and Tax Shelters: Volume 2 – The Hidden Money', Thomas Rønfeldt, Issue 5, pp. 418–423

'IPOS and the Italian Financial Transaction Tax', Luca Rossi, Valentina Buzzi, Issue 5, pp. 424–427

'Vodafone Transfer Pricing Decision: A Mistake of Judgment', Dhruv Sanghavi, Issue 5, pp. 428–436