Energy security and energy prices have become one of the biggest economic challenges for the world right after the global pandemic. Commodity prices for coal, oil and gas increased sharply in 2022.[1] The soaring prices have generated abnormally high profits in the energy sector. In response, in September 2022, the European Union (EU) has agreed…

State aid law is closely linked to the Treaty on the Functioning of the European Union (TFEU) commitment to creating, maintaining, and strengthening a common market in which competition is not distorted. Precisely what characterises companies that form part of a group of companies (multinational or not) is that transactions carried out between them are…

“It follows that only the national law applicable in the Member State concerned must be taken into account in order to identify the reference system for direct taxation, that identification being itself an essential prerequisite for assessing not only the existence of an advantage; but also whether it is selective in nature.”[1] With this statement,…

On August 25, 2022, the Sixth Circuit Court of Appeals answered a fundamental question about advance pricing agreements (APAs): Is an APA a contract between the IRS and a taxpayer?[1] If it is a contract, is it subject to contract law? Circuit Judge John Nalbandian answered this question for the unanimous three-judge Appellate panel, opening…

On Thursday, August 18, 2022, Chief Judge Kathleen Kerrigan of the U.S. Tax Court published her 75-page decision on the Medtronic and I.R.S. controversy (“Medtronic III”).[1] This decision resulted from a remand by the Eighth Circuit Court of Appeals (“Medtronic II”) of her original 144-page 2016 decision (“Medtronic I”).[2] The IRS and Medtronic had agreed…

Two years on since Chapter X of the OECD Transfer Pricing Guidelines (Chapter X) was published in February 2020, the practical transfer pricing aspects of financial transactions are due another look. While financial transactions were often ignored once put in place, administrative practice, case law, interaction with interest limitation rules and new guidance have elevated…

  A conversation on International Tax Practice culminated into an IFA webinar series on May 20th with global experts sharing their perspectives on landmark treaty and transfer pricing rulings delivered by Courts in various jurisdictions suggesting areas of alignment and divergence of principles. In an eminent panel moderated by Professor Robert Danon, Mr. Mukesh Butani…

Bram Markey – EMEA Leader Tax Controversy & Dispute Resolution at PwC Belgium Raphaël Devroye – Transfer Pricing Manager at PwC Belgium In a recent judgement[1], the Belgian Court of Appeal of Ghent ruled in favour of the taxpayer as regards a transfer pricing case in relation to intangibles. Even though the case is complex…

  On 20 May, 2021 the first Webinar of IFA’s online series “A conversation on International Tax Practice” was held. Chaired by Robert Danon (Chair IFA Permanent Scientific Committee), global experts shared their perspectives on India’s software royalty case and on landmark transfer pricing rulings delivered by Courts in various jurisdictions thereby suggesting alignment and…

Introduction On November 23, 2020 Italian Tax Authorities (“ITA”) issued the Provision no. 360494/2020 (“Provision”) by which it introduced new measures[1] as for the content and validity of the transfer pricing documentation (“TPD”) – to be prepared by Italian resident enterprises and Italian permanent establishments of foreign entities – in order to benefit from the…

1. Background During the 21st Session of the UN Committee of Experts on International Cooperation in Tax Matters, the relevant members decided to include a new draft – Art. 12B on Automated Digital Services (ADS) as well as its Commentary – in the UN Model.[1] Concerning the agenda of the proposal, the Committee of Experts…

Summary There might be a leak in the OECD’s global minimum tax proposals (GLOBE; Pillar Two). To address the remaining challenges of base erosion and profit shifting (BEPS) by large multinational enterprises the OECD envisages a global minimum level of company taxation and top-up taxation by countries up to that level where other countries do…

Claudio Cipollini (Heidelberg University, Germany) / February 24, 2021 The identification of new instruments to improve the efficiency of transfer pricing (TP) control is a priority on the international tax law agenda. The search for effective methods of control and feasible solutions for minimizing the associated costs assume a fundamental relevance for the sustainability of…

On 1 July 2019, the Dutch tax ruling practice was revised to align it with EU and international standards and recommendations as well as to increase its openness and transparency. In this respect, the Dutch tax authorities (DTA) now publish anonymized summaries of advance pricing agreements and advance pricing agreement (APA) requests. This month, Intertax…