The Trade Agreement between the EU and the UK rules out any direct effect. However, the Trade Agreement could have an indirect effect. EU Member States should interpret the capital ownership provisions in their bilateral tax treaties with the UK in line with the Trade Agreement and its provision on national treatment. On the basis…
The vexed question of whether country-by-country reports (CBCR) on multinational companies’ tax affairs should be made public[1] has been a recurrent topic in the tax debates for years. In Europe several attempts were made along the year to have public CbCR without success. Furthermore, the approach adopted by European countries with reference to public CbCR…
(Forthcoming: Intertax, vol. 49, 2021, issue 8/9) Like it or not, the Covid-19 pandemic has been changing our way of life. Among others, large-scale lockdowns drive us to work from home and to rely heavily on videoconferencing and online-shopping. Thus, the arguably already digitalized life has been further digitalized! In the fiscal circle, the tax…
The relationship between treaties and domestic tax law ought to be straightforward. The pacta servanda sunt principle expressed in articles 26 and 27 of the Vienna Convention on the Law of Treaties itself implies that treaty obligations must be upheld notwithstanding domestic law. A variety of constitutional arrangements around the world mean that there is…
“You looking to buy? Everything is tax-free.” Vendor bot Wallace, Berkeley Springs Station, Fallout 76 videogame Public interest in taxation is rising in the recent decade. Digital giants and multinational enterprises attract lots of attention, and gaming companies are no exception. On top of the heated discussions about taxation of the digital(ized) economy and…
(Forthcoming: Intertax, vol. 49, 2021, issue 6/7) The Spanish digital services tax (hereinafter DST)[1] came into force 16 January 2021 replicating the European draft directive except for some minor deviations. In essence, it applies a 3% tax on the revenues obtained by taxpayers as a result of the supply of certain digital services to users…
Today we are witnessing a historic moment in the digitalisation of tax administrations (TAs) which evidently accelerated, unplanned and unforeseen, due to the measures of isolation and closure of many of the facilities resulting from the coronavirus pandemic. This unprecedented economic, health and social crisis that we are going through is producing a huge loss…
Analysis of the ECJ judgments, reading by national courts, and impact on tax treaty practice Authors: Robert Danon,[1] Daniel Gutmann,[2] Margriet Lukkien,[3] Guglielmo Maisto,[4] Adolfo Martín Jiménez,[5] Benjamin Malek[6] (Forthcoming: Intertax, vol. 49, 2021, issue 6/7) Since they were delivered in 2019, the judgments of the ECJ in the Danish cases have been widely…
1. Introduction To be able to compete successfully in international markets, companies need to turn their R&D results fast and effectively into marketable products. Thus, besides the development (enhancement, maintenance, exploitation) of IP, its protection is of essential importance for companies. In order to ensure maximum legal protection, companies oftentimes formally register their IP assets…
Back in 2000, computer gaming was revolutionized. Instead of sports games, ego shooters or other genres, people caught an interest in ‘virtual living’. Games offered an extensive life simulation. To an – at that time – unprecedented degree, people could live their lives virtually. Disregarding the why behind what drives players, it is undeniable that…
Maarten de Wilde* Summary On March 31, 2021, U.S. President Biden released his ‘American Jobs Plan’, an ambitious proposal for large scale public investments in infrastructure and other priorities. That same day the American President announced plans to offset the costs of these investments with U.S. corporate tax increase proposals: the ‘Made in America Tax…
On April 5, 2021, U.S. Treasury Secretary Janet YELLEN “grabbed the attention of the occupants of corner offices worldwide with a speech to the Chicago Council on Global Affairs. The headline was a call for countries to agree on a global minimum tax rate for large companies.” (The Economist, April 8, 2021). In the slipstream,…
The inspiration for this post is “The Made In America Tax Plan” (https://home.treasury.gov/system/files/136/MadeInAmericaTaxPlan_Report.pdf) recently released by the U.S. Department of the Treasury to outline President Biden’s Administration’s outlook on taxation, notably in so far as the “internationalization” of taxpayers’ undertakings is concerned. This is a much shorter version of and directly excerpted from comments I…
Raffaele Russo[1] “In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States… The undesirability…
