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Terra/Wattel European Tax Law - Volume 1 - Student edition

General Topics and Direct Taxation

Specificaties
Paperback, 976 blz. | Engels
Wolters Kluwer | 8e druk, 2022
ISBN13: 9789013169157
Rubricering
Hoofdrubriek : Juridisch
Wolters Kluwer 8e druk, 2022 9789013169157
Onderdeel van serie Fed Fiscale studieserie
Op voorraad | Vandaag voor 21:00 uur besteld, morgen in huis

Samenvatting

The eight edition of this highly acclaimed book offers a comprehensive and systematic survey of European Tax Law up to July 2022. With its critical discussion of the EU tax rules in force and of the EU Court’s case law in tax matters, it surpasses every other publication on European tax law.

The Student Edition of European Tax Law thoroughly covers European Tax Law up to July 2022. Its previous editions have been praised as the comprehensive book on EU tax law for practitioners, policy makers, the judiciary and academics. This new eighth edition builds upon the series legacy and will continue to be of immense value as a reference work. The title surpasses every other publication in its clarification and analysis of the implications of the EU Treaties and secondary EU law for national and bilateral tax law.

Direct taxation
This is the first volume of European Tax Law, covering a broad range of topics on direct taxation. The reader will gain insight into issues such as:

- The far-reaching consequences of the EU free movement rights, the EU State aid prohibition, the EU Charter of Fundamental Rights, and the general principles of EU law for national tax law, tax treaties, national (tax) procedure, State liability, and relations with third States.
- Secondary EU law in force and proposed on direct taxes (Parent-Subsidiary Directive, Tax Merger Directive, Interest and Royalties Directive, cross-border tax dispute settlement instruments, the Anti-Tax Avoidance Directive and pending company tax proposals.
- (Automatic) exchange of information and other administrative assistance in the assessment and recovery of taxes between the EU Member States.
- Soft Law on Harmful Tax Competition.

Volume II of this book will cover harmonization of indirect taxation, energy taxation and capital duty, as well as administrative cooperation in the field of indirect taxation.

Specificaties

ISBN13:9789013169157
Taal:Engels
Bindwijze:paperback
Aantal pagina's:976
Druk:8
Verschijningsdatum:8-11-2022
ISSN:

Over Otto Marres

Otto Marres is advocaat bij Linklaters in Amsterdam. Voort is hij verbonden aan de Universiteit van Amsterdam als universitair docent internationaal belastingrecht en Europees belastingrecht en is hij annotator van BNB. Als hoogleraar internationaal belastingrecht en is hij annotator van BNB.

Andere boeken door Otto Marres

Over Hein Vermeulen

Mr. dr. H. (Hein) Vermeulen studeerde fiscaal recht aan de Universiteit van Amsterdam en is aldaar ook gepromoveerd. Hij is thans als universitair docent verbonden aan de leerstoelgroep belastingrecht van de Universiteit van Amsterdam en als onderzoeker aan het Amsterdam Centre for Tax Law (ACTL). Zijn onderzoek richt zich op de fiscale aspecten van beleggingsinstellingen en van vastgoed. Hein Vermeulen is voorts secretaris van de Commissie beleggingsinstellingen van de Vereniging voor belastingwetenschap, werkzaam bij het PricewaterhouseCoopers, redacteur van Vastgoed Fiscaal & Civiel en auteur van de Cursus Belastingrecht.

Andere boeken door Hein Vermeulen

Over Dennis Weber

Prof.dr. D.M. Weber is professor European Corporate Tax Law aan het Amsterdam Center for International Law (ACIL) aan de Universiteit van Amsterdam. Hij maakt deel uit van het Loyens & Loeff European direct tax law team en is raadsheerplaatsvervanger in Hof 's-Hertogenbosch.

Andere boeken door Dennis Weber

Inhoudsopgave

Preface / V
Overview / VII
List of Abbreviations / XXVII

PART 1
General EU law and Taxation / 1
CHAPTER 1
Introduction / 3
Peter Wattel

CHAPTER 2
Constitutional Foundations: EU Tax Competences; Treaty Basis for Tax Integration; Sources and Enactment of EU Tax Law / 11
Update and elaboration by Rita Szudoczky and Dennis Weber
2.1 Division of (Tax) Competences Between the Union and the Member States / 11
2.2 Sources of EU Tax Law / 14
2.2.1 Primary and Secondary EU Law / 14
2.2.2 Primary law / 15
2.2.2.1 Treaty Provisions Relevant for Direct Taxation / 15
2.2.2.2 Treaty Provisions Relevant for Indirect Taxation / 16
2.2.2.3 Remaining Treaty Provisions Relevant for Taxation / 16
2.2.2.4 The Mysterious (Lisbon Vanishing of) Article 293 EC Treaty / 18
2.2.2.5 General Principles of EU law / 19
2.2.3 Secondary Law / 21
2.2.3.1 Characteristics of Regulations, Directives and Decisions / 21
2.2.3.2 Legislative, Delegated and Implementing acts / 22
2.2.4 International Agreements Concluded by the Union / 23
2.2.5 Soft Law / 24
2.2.5.1 Recommendations, Opinions and Communications / 24
2.2.5.2 Codes of Conduct / 26
2.2.6 Relationship Between Primary and Secondary Law / 26
2.3 Enactment of EU Measures as Regards Taxation / 29
2.3.1 Different Legislative Procedures / 29
2.3.2 Treaty Bases for Tax Integration / 30
2.3.3 Escapes From the Unanimity Requirement: Enhanced Cooperation, Market Distortion Provisions, Curbing Fraud, Comitology and Passerelle / 33

CHAPTER 3
General EU Law Concepts and Tax Law / 37
Peter J. Wattel
3.1 Introduction / 37
3.1.0 Prohibition of Discriminatory and Protective Product Taxation and of Import Restrictions; Small Phenomenology of International Car Taxation / 37
3.1.1 An Internal Market / 42
3.1.2 Interaction of Positive and Negative Integration; Direct and Indirect Taxation; Limits to Negative Integration in Tax Matters / 43
3.1.3 Access to the Four Freedoms / 46
3.1.3.1 Treaty Standing; Cross-Border Element; Internal Situations; EU Citizenship / 46
3.1.3.2 Treaty Access in Direct Tax Cases / 47
3.1.3.3 Abuse of Rights Does Not Bar Treaty Access, but May Justify a Restriction / 49
3.1.4 The Rule of Law; Human Rights; General Principles of EU Law; Effective Legal Remedy / 51
3.2 The Four Freedoms / 56
3.2.1 ‘Discriminations’ and ‘Obstacles’; Market access and Market Equality; the Rule of Reason / 56
3.2.1.1 Discrimination and Restriction Concepts / 56
3.2.1.2 Permissible Restrictions on Free Movement; the Rule of Reason / 61
3.2.2 Rule of Reason Justifications for (Fiscal) Market Restrictions / 63
3.2.3 (Rare) Examples of Direct Tax Measures Affecting Free Trade in Goods; French Newspapers and Krantz / 68
3.2.4 Direct Taxation and the Freedom to Provide (and Purchase) Services / 69
3.2.5 The Free Movement of Persons and the Right of Residence / 70
3.2.6 Freedom of Capital and Payments; Extending to Third States / 74
3.2.7 Discriminations, Restrictions, Disparities and Dislocations / 77
3.2.7.1 Measures With and Without Distinction; From an Obstacle-Approach to a Discrimination-Approach; Exercise in Parallel of Taxing Power / 77
3.2.7.2 Disparities / 84
3.2.7.3 Dislocations (Tax Base Compartmentalization); Source Taxation and EU-Wide Taxation; National Tax Treatment of Nonresidents? / 86
3.2.7.4 Derivative (Second-Tier) Discrimination / 96
3.3 Normal Conditions of Competition (a ‘Level Playing Field’) / 97
3.4 Sincere Cooperation and Effectiveness of EU Law / 98
3.5 Implications of the Principle of Effectiveness of EU Law in the National Legal Order / 101
3.5.1 Direct Effect and Primacy of EU Law; Consistent Interpretation; Effects of Directives / 102
3.5.2 Enforcement of EU Law: Procedural Equivalence and Effectiveness / 106
3.5.2.1 National Procedural Autonomy on Two Conditions; Procedural Rule of Reason / 106
3.5.2.2 Illustration: Restrictions on Restitution of Overpaid Tax / 111
3.5.2.3 Application of EU Law ex officio; Public Policy Provisions / 114
3.5.3 National Time-Limits, Final Decisions and Res Iudicata / 116
3.5.3.1 The Length of National Time-Limits; Again Equivalence and Effectiveness / 116
3.5.3.2 (No) Revision of Final Administrative Decisions and Final Judgments / 119
3.5.4 State Liability for ‘Serious’ Breaches of EU Law; Penalty Payments / 124
3.5.4.1 Introduction; Conditions for Liability / 124
3.5.4.2 A ‘Sufficiently Serious’ Breach of EU Law / 126
3.5.4.3 Interaction with Direct Effect; Incidental Damages / 128
3.5.4.4 State Liability for Wrongful Supreme Court Judgments / 129
3.5.4.5 Penalty Payments for Breaches of EU Law / 131

CHAPTER 4
The EU Charter of Fundamental Rights, General Principles of EU Law and Taxation / 133
Pasquale Pistone
4.1 Legal value, classification and relation with EU law principles / 133
4.2 General provisions / 136
4.2.1 Scope and requirements for protection: in which cases does the Charter apply? / 136
4.2.1.1 “Only when they are implementing Union law” / 136
4.2.1.2 The level of fundamental rights protection; interaction of the Charter, the European Convention and national constitutional law / 138
4.2.2 Limitations of Rights and the link with the Community and Union Treaties / 139
4.2.3 Interaction between the Charter and the European Convention / 141
4.3 Tax Aspects of EU fundamental rights / 143
4.3.1 Right to privacy and data protection / 143
4.3.2 Right to property / 146
4.3.3 Equality before the law and non-discrimination / 147
4.3.4 Freedom of movement and residence / 148
4.3.5 Right to an effective remedy and fair trial / 148
4.3.6 Presumption of innocence and right of defence / 151
4.3.7 Provisions geared solely at the EU institutions / 153
4.3.8 Principles of legality and proportionality of criminal offences and penalties / 154
4.3.9 Prohibition of double jeopardy / 154

CHAPTER 5
Third States and External Tax Relations / 157
Ana Paula Dourado and Peter Wattel; updated by Daniel Smit and Philip Baker
5.1 Overview / 157
5.2 Third State Capital Movement / 157
5.2.1 Introduction; Differences Between Intra-EU and Third State Capital Movement / 157
5.2.2 In Principle the Same Substance as Intra-EU, but: ‘a Different Legal Context’ / 159
5.2.3 The Grandfather Clause (Article 64(1) TFEU) / 163
5.2.4 Mutual Exclusion or Overlap? How to Distinguish Capital Movement From Establishment and Service Provision / 168
5.2.5 No Intra-EU Cherry-Picking From Tax Treaties With Third States, nor Vice Versa / 177
5.3 Member States’ Overseas, Associated and Dependent Territories: Member State, Third State, ‘Second’ State? / 177
5.4 The European Economic Area Agreement (EEAA) / 182
5.5 External Tax Relations / 184
5.5.1 External Tax Treaty-Making Powers / 184
5.5.2 LOB-Provisions in Tax Treaties with Third States; Derivative Benefits / 187
5.5.3 The EU Blacklist of Non-cooperative Third States / 191
5.6 Brexit / 193

PART 2
Integration of Direct Taxation / 195
CHAPTER 6
Conceptual Background of the CJEU Case Law in Direct Tax Matters / 197
Peter J. Wattel and Dennis Weber
6.1 The Basic Clash between (International) Tax Law and Internal Market Law / 197
6.1.1 Basics of International Tax Law; Residence and Source Taxation / 197
6.1.2 Opposing Points of Departure of International Tax Law and Internal Market Law / 199
6.2 The Court Accepts All Tax Connecting Factors and All Methods for Double Tax Relief / 200
6.3 Territoriality Taxation or EU-Wide Taxation / 202
6.4 Basic Notions in the Court’s Direct Tax Case Law / 206
6.4.1 ‘Discrimination’, not Mere ‘Restriction’; Nondiscriminatory ‘Obstacles’, ‘Parallel Exercise’ and Disparities are Outside Free Movement Scrutiny / 206
6.4.2 Comparability (Subject-to-Tax) and Justifiability (Tax Base Integrity); Assertion and Exercise of Taxing Power / 209
6.5 Departures from the Subject-to-Tax Approach or the One-Country Approach / 216
6.5.1 The ‘Always-Somewhere’ or ‘One-Market’ Approach / 217
6.5.2 The Mutual Recognition Approach / 219
6.5.3 The Follow-Secondary-EU-Law or the OECD Model Approach / 225
6.5.4 The Overall Approach: ‘Neutralisation’ in the Other Jurisdiction; De Groot, Denkavit
France, Amurta, Miljoen / 226

CHAPTER 7
Free Movement and Tax Base Integrity / 231
Update by Dennis Weber and Peter Wattel
7.1 Overview of the Development of the ECJ’s View on Tax Avoidance / 231
7.2 Abuse of rights in primary and secondary law: Correspondence? / 234
7.3 Ancillary Soft and Hard Law / 237
7.4 Abuse of Rights as a General Principle of EU Law; Objective and Subjective Element / 237
7.5 Exclusion of Categories of Cross-Border Cases; Fiscal Coherence; Balanced Allocation; Fiscal Supervision; Territoriality; Overlap of Justifications for Free Movement Restrictions
7.6 Procedural Issues; Division of the Onus of Proof / 253
7.7 Consequences of a Finding of Abuse: ‘Redefine so as to Re-Establish’ / 256
7.8 Allowing General Tax Base Protection / 257
7.8.1 Rise, Fall and Revival of Fiscal Cohesion / 257
7.8.2 The Fiscal Principle of Territoriality / 260
7.8.3 A Balanced Allocation of Taxing Power between Member States / 263
7.8.4 Territorial Financial Cohesion and Jurisdictional Balance in Some Non-Tax Areas / 265
7.9 Conclusion – A Single Concept – Tax Base Integrity as the Fiscal Manifestation of the Court’s General Abuse of Rights Doctrine / 266

CHAPTER 8
Division of Tax Jurisdiction; Double Tax Relief Mechanisms; Tax Treaty Issues / 269
Update by Otto Marres
8.1 International Double Taxation (and why its Elimination is a Union Goal but not an Obligation for the Member States) / 269
8.1.1 Why is there International Double Taxation in the first Place? / 269
8.1.2 National Autonomy; no Obligation to Eliminate Double Taxation / 270
8.2 Capital Import Neutrality (CIN; Exemption) and Capital Export Neutrality (CEN; Credit) / 272
8.2.1 Source Taxation and Residence Taxation; Assumption and Exercise of Taxing Jurisdiction / 272
8.2.2 Capital Export Neutrality (CEN); the Credit Method / 272
8.2.3 Capital Import Neutrality (CIN); the Exemption Method / 274
8.2.4 Differences and Similarities; Deferral; CFC Legislation / 275
8.2.5 Acceptance of Both Credit and Exemption in Secondary EU Law; the Court Accepts All Methods for Double Tax Relief; Remaining Inconsistencies / 278
8.3 Tax Treaty Issues / 282
8.3.1 National Autonomy; Conclusion of Bilateral Tax Treaties / 282
8.3.2 Treaties to be Regarded as National Law; the Overall Approach / 283
8.3.3 Tax Treaties and their Substantive Rules / 285
8.3.4 Personal Scope of Tax Treaties: Nationals versus Foreigners, Residents versus Non-Residents, Non-Residents versus Non-Residents, Limitation on Benefits / 287
8.3.5 The Court’s struggle with the meaning of bilateral tax treaties / 290
8.3.6 Treaty Overrides / 293

CHAPTER 9
Corporate Income Taxation / 295
Update by Hein Vermeulen
9.1 Introduction / 295
9.2 Host State: Equal Treatment of Branches and Subsidiaries / 296
9.3 Origin State: Are Parents of Foreign and Domestic Branches and Subsidiaries Comparable? / 297
9.4 Group Taxation Schemes / 300
9.4.1 Group Taxation Schemes of Domestic Entities / 301
9.4.2 Group Taxation Schemes of Domestic Entities and Non-Domestic Entities: current losses / 303
9.4.3 Group Taxation Schemes of Domestic Entities and Non-Domestic Entities: other advantages than current losses / 306
9.5 CFC Legislation / 307
9.6 Thin Capitalization, Profits Adjustments, and the Treaty Freedoms / 313

CHAPTER 10
Cross-Border Loss Relief / 325
Georg Kofler
10.1 Introduction and Overview / 325
10.1.1 Background and Issues / 325
10.1.2 Lack of Positive Integration: From the Commission’s 1990 Proposal to “BEFIT” / 327
10.1.3 Negative Integration: The Court’s Case Law on Loss Utilization / 329
10.1.4 Existence and Amount of a “Tax Loss” / 331
10.2 Losses of Foreign Subsidiaries / 333
10.2.1 Technical Background / 333
10.2.2 Cross-Border Loss Relief and Group Taxation Regimes (Marks & Spencer, X Holding, Commission v. UK, Yara, Holmen) / 334
10.2.3 Cross-Border Loss Relief in Mergers (A Oy, Memira) and Transfers of Residence (AURES) / 339
10.2.4 The “Finality” of Losses / 340
10.3 Losses of Foreign Permanent Establishments / 344
10.3.1 Technical Background / 344
10.3.2 Symmetrical Base Exemption (Lidl Belgium, Timac Agro, Bevola, W AG) / 347
10.3.3 Asymmetrical Deduction/Reincorporation (Krankenheim Ruhesitz am Wannsee, Timac Agro) / 353
10.3.4 Credit Method and “Recapture” (Nordea Bank Danmark) / 355
10.4 Impact of Residence State Losses on Taxation in the Source State (Ritter-Coulais, Renneberg, Lakebrink, X, Sofina)
10.5 Impact of Profits in the Source State on Losses in the Residence State (AMID, Mertens) / 361
10.6 Domestic Losses and “Sandwich Situations” (Société Papillon, Philips Electronics, Felixstowe Dock and Railway Company, SCA Group Holding, NN, B) / 362
10.7 Excursus: Currency Losses (Deutsche Shell, X AB, X BV and X NV) / 366

CHAPTER 11
Cross-Border Dividend Taxation / 371
Update by Hein Vermeulen
11.1 Taxation of Distributed Company Profits / 371
11.1.1 Classical Systems / 372
11.1.2 Schedular (Semi-Classical) Systems: Half-Rate, Partial-Base, or Final Withholding / 372
11.1.3 Either/Or Systems / 374
11.1.4 Imputation / 374
11.1.5 International Neutrality; Negative Integration; CJEU and EFTA Case Law; Exit Imputation / 375
11.1.6 Preliminary conclusion / 379
11.2 Possible Unequal Treatment of Cross-Border Dividends / 379
11.3 The CJEU’s basic Notions: Juridical and Economic Double Taxation, and Exertion of Taxing Power
11.4 Inbound Dividends (Residence Taxation); National Treatment; Exit Imputation Systems / 384
11.4.1 Economic Double Taxation of Inbound Dividends / 384
11.4.2 Juridical Double Taxation of Inbound Dividends / 388
11.4.3 Asymmetric Undoing of Economic Double Taxation of Inbound Dividends / 392
11.5 Outbound Dividends (Source Taxation): National Treatment of Nonresident Shareholders and the gross/net Dilemma
11.5.1 Economic Double Taxation / 393
11.5.2 Juridical Double taxation or Denial of Exemption / 394

CHAPTER 12
Exit Taxes / 401
Servaas van Thiel
12.1 Exit Taxation on Accrued Income / 401
12.1.1 Discriminatory exit taxes / 401
12.1.2 Exit taxes on accrued but unrealized gains / 404
12.2 Exit taxes on accrued gains locked into privately held assets / 405
12.2.1 Exit taxation on the accrued value of shares / 405
12.2.2 Exit taxes on accrued pension rights / 408
12.2.3 Conclusions on exit taxes on privately held assets / 410
12.3 Exit taxes on accrued gains locked into business assets / 411
12.3.1 Preliminary on corporate mobility rights / 411
12.3.2 Exit taxes on businesses or business assets / 414
12.3.3 Conclusions on exit taxes on business assets / 418
12.4 Exit taxes on privately held assets versus exit taxes on business assets / 420

CHAPTER 13
Individual Income Taxation / 421
Update by Hein Vermeulen
13.1 Introduction / 421
13.2 Tax Scales; Correction of Overpaid Withholding Tax by Assessment / 422
13.3 Income-Related Deductions / 424
13.4 Personal Ability to Pay; the Schumacker Case Law / 426
13.4.1 Home State Responsibility; No National Treatment in the Source State / 426
13.4.2 But: Residents and Nonresidents Are Not in a Different Position / 430
13.4.3 Exacerbating Disparities; the Mechanics of Double Tax Relief; Rate Progression; Two Inconsistencies of International Tax Law / 432
13.4.4 Trying to Get It Right / 435
13.4.5 The De Groot Case: A Chance Missed / 437
13.4.6 Renneberg: Schumacker Applies Also to Home State Losses / 439
13.4.7 Imfeld: Two Situations in which the Residence State is not Obliged to Take Account of Personal and Family Circumstances / 441
13.4.8 Schumacker Test for the Whole Tax Year / 442
13.4.9 Case C-283/15, X: Proportional Extension of Personal Deductions by Multiple Source States in the Absence of Home State Income / 442
13.4.10 The Zyla case: Schumacker doctrine not applied for social security contributions / 443
13.5 Option to Be Taxed as a Resident / 444
13.6 Pensions and Annuities / 447
13.7 Private Investment Incentives also for Cross-Border Investments / 449

CHAPTER 14
EU inheritance and gift taxation / 451
Vassilis Dafnomilis
14.1 Introduction / 451
14.2 Technical background on inheritance and gift taxes / 452
14.3 Principles drawn from Court case law on EU inheritance and gift taxation / 454
14.3.1 Applicable freedom / 454
14.3.2 Restriction – difference in treatment / 456
14.3.3 Objectively comparable situations / 456
14.3.4 Justifications / 459
14.4 Elements of inheritance and gift tax legislation that can be contrary to EU law / 460
14.4.1 Subjective tax exemptions / 460
14.4.2 Objective tax exemptions / 463
14.4.3 Deductions of liabilities/debts / 466
14.4.4 Valuation rules / 469
14.4.5 Taxation of non-profit organisations / 471
14.4.6 Tax treatment of family businesses / 472
14.4.7 Extended residence rules / 473
14.4.8 Double taxation of inheritances / 474

CHAPTER 15
State Aid and Direct Taxation / 481
Sjoerd Douma
15.1 Introduction / 481
15.2 The notion of State aid / 482
15.2.1 Introduction / 482
15.2.2 Undertaking / 482
15.2.3 State resources and imputability / 483
15.2.4 Advantage / 484
15.2.5 Selectivity / 487
15.2.6 Effect on trade and competition / 493
15.2.7 Selected topics / 494
15.3 Compatibility of State aid with the internal market / 502
15.3.1 Introduction / 502
15.3.2 Limitations on the Commission’s discretion / 503
15.3.3 The Commission’s State aid policy / 504
15.4 State aid procedure and enforcement / 506
15.4.1 Introduction / 506
15.4.2 Monitoring of existing aid / 506
15.4.3 Notification of new aid / 508
15.4.4 Recovery of unlawful aid / 510
15.4.5 Judicial appeal / 516
15.5 Concluding remarks / 519

PART 3
Positive Integration of Corporate Taxes / 521
CHAPTER 16
The Parent-Subsidiary Directive / 523
Update by Otto Marres
16.1 Introduction / 523
16.2 Main Features / 526
16.3 Qualifying Companies (Arts. 2 and 3) / 526
16.3.1 ‘Company of a Member State’ and ‘Permanent Establishment’ (Art. 2) / 526
16.3.2 Parent and Subsidiary Status (Art. 3) / 533
16.3.3 No Other Requirements / 537
16.4 Inbound Dividends: Exemption or Indirect Credit (Art. 4) / 538
16.4.1 The General Rule: Choice of Exemption or Indirect Credit; Even Asymmetrical / 538
16.4.2 Linking Rule: No Exemption for Deductible Payments / 543
16.4.3 (No) Credit for Possible Residual Withholding Tax / 545
16.4.4 Ordinary Credit; Excess Foreign Corporation Tax / 545
16.4.5 Multi-Tier Credit / 546
16.4.6 (Non-)Deductibility of Charges ‘Related’ to the Holding (Art. 4(3)); Bosal Holding, Keller Holding and Argenta Spaarbank II / 547
16.5 ‘Distributions of Profits’; Constructive Dividends; Hybrid (Transparent) Entities; Liquidation Proceeds / 549
16.5.1 Distributions of Profits (Art. 1) / 549
16.5.2 Hybrid Entities (Art. 4(2)); Fiscal Transparency / 553
16.6 Outbound Dividends: Abolition of Withholding Tax (Art. 5) / 553
16.6.1 The General Rule / 553
16.6.2 Transitional and Deleted Derogations / 554
16.6.3 ‘Withholding Tax’; Epson Europe, Athinaïki Zythopoiia, Océ van der Grinten, FII GLO, Burda, and Ferrero / 555
16.6.4 Article 6; (No) Précompte Mobilier / 559
16.6.5 Imputation Systems; Imputation Taxes; Outbound Payment of Imputation Credits (Art. 7) / 559
16.7 No Temporal Compartmentalization of Dividends; (No) Write-Down of the Holding Subsequent to Distribution / 560
16.8 Anti-Abuse Reservation (Art. 1(2)-1(4)) / 561
16.8.1 Introduction; Context / 561
16.8.2 In a Nutshell / 562
16.8.3 Main Purpose or one of the Main Purposes of Obtaining a Tax Advantage / 563
16.8.4 Defeating Object or Purpose / 564
16.8.5 Artificiality / 565
16.8.6 Refusing ‘the benefits of the Directive’ / 566
16.8.7 Article 1(4): Reservation of Competence (any Autonomy Left?) / 568
16.9 Implementation; Direct Effect; Private Enforcement / 573
16.10 Consequences / 575

CHAPTER 17
The Tax Merger Directive / 579
Update by Frederik Boulogne
17.1 Introduction; Objective; History / 579
17.2 Ad Hoc Tax Problems of Mergers and Divisions / 582
17.3 Operations Covered and Definitions (Art. 2) / 583
17.3.1 Operations Covered (Art. 2(a-e) and (k)) / 583
17.3.2 ‘Branch of Activity’ (Art. 2(j)); Independent Functioning / 585
17.3.3 Coverage after the SEVIC, Cartesio and VALE Cases, the Implementation of the Amendment, and the Company Law Directive on Cross-Border Mergers of Limited Liability Companies / 587
17.4 10% Additional Cash Pay-Out (Art. 2(a)-(c) and (e)) / 590
17.5 Gist and System of the Directive / 592
17.6 Qualifying Companies (Art. 3) / 595
17.7 Taxation of the Companies Involved / 596
17.7.1 Deferral of Capital Gains Tax and Carry-Over of Tax Values (Arts. 4, 9 and 11) / 596
17.7.2 Carry-Over of Losses Connected to the Remaining Branch (Arts. 6 and 13(2)) / 597
17.7.3 Carry-Over of Tax-free Provisions and Reserves (Arts. 5 and 13(1)) / 598
17.7.4 Branch Requirement (Arts. 4(2)(b), 10(1), and 12(1)(b)) / 599
17.7.5 Valuation of Shares Received / 600
17.7.6 Hybrid (Transparent) Entities / 602
17.8 Cancellation of Shares (Art. 7) / 603
17.9 Taxation of the Shareholders Involved (Arts. 8, 11 and l4) / 604
17.10 Transfer or Incorporation of a Foreign Branch (Art. 10) / 606
17.11 Operations and Migrations Not Covered / 607
17.12 The Anti-Abuse Reservation (Art. 15) / 609
17.12.1 Evasion and Avoidance; Objective and Subjective Elements; Scope and National Implementation of the Anti-Abuse Provision / 609
17.12.2 The Leur-Bloem Case; Facts / 611
17.12.3 Admissibility: Domestic Situation, but National Law Refers to EU Law / 611
17.12.4 The Substantive Questions; The Character of the Anti-Abuse Clause: a ‘Reservation of Competence’ / 612
17.12.5 Division of the Onus of Proof / 612
17.12.6 Purely Fiscal Advantages Are Not ‘Valid Commercial Reasons’ / 615
17.12.7 Is the Anti-Abuse Reservation Redundant? / 616
17.12.8 Employees’ Representation / 617
17.13 Implementation / 617
17.14 Consequences / 619

CHAPTER 18
The Interest and Royalties Directive / 621
Update by Axel Cordewener
18.1 Introduction / 621
18.1.1 Background / 621
18.1.2 History and Aim / 622
18.2 Objective (Substantive) Scope of Application / 624
18.2.1 ‘Interest’ Income (Article 2(a)) / 624
18.2.2 ‘Royalties’ Income (Article 2(b)) / 624
18.2.3 Role of the OECD Model Commentary / 624
18.2.4 Exclusion of Certain Payments (Article 4) / 626
18.2.4.1 Optional Exclusion of Dividend-Like Payments (Art. 4(1)) / 626
18.2.4.2 Compulsory Exclusion of Non-Arm’s Length Payments (Art. 4(2)) / 627
18.2.4.3 Potential Link to the Parent-Subsidiary Directive / 628
18.3 Subjective (Personal) Scope of Application / 629
18.3.1 ‘Company of a Member State’ (Article 3(a)) / 629
18.3.2 Association Requirement (Article 1(7)) / 631
18.3.2.1 ‘Associated’ Companies (Article 3(b)) / 631
18.3.2.2 Potential Limitation: Minimum Association Period (Article 1(10)) / 632
18.3.3 ‘Permanent Establishment’ (Article 3(c)) / 633
18.3.4 Recipient as ‘Beneficial Owner’ (Article 1(4), (5)) / 635
18.4 Territorial Scope of Application / 636
18.4.1 Cross-border Payments between EU Member States / 637
18.4.2 Accession of new Member States / 638
18.5 Temporal Scope of Application / 638
18.5.1 General Deadlines for Implementation / 638
18.5.2 Transitional Derogations for Some Source States; Ordinary Credit for Residual Source Tax in Home State (Article 6) / 638
18.6 Relief Rule: Tax Exemption in the Source State / 639
18.6.1 Exemption from ‘Any Taxes’ (Art. 1(1)) / 640
18.6.1.1 Taxation ‘by Deduction at Source’ or ‘by Assessment’ / 640
18.6.1.2 Relief (only) from Juridical Double Taxation / 640
18.6.2 Relief Procedure / 642
18.6.2.1 Immediate Exemption from Withholding Tax (Article 1(11) to (14)) / 642
18.6.2.2 Right to Refund if Immediate Exemption Failed (Article 1(15) and (16)) / 643
18.7 Special Issues / 643
18.7.1 Prevention of Fraud and Abuse (Article 5) / 643
18.7.2 Direct Effect of Beneficial Rules / 645
18.7.3 Relation to Relief Provisions under Domestic Law or Double Tax Treaties (Article 9) / 646
18.8 Some Comments on the Current Status of the Directive and Proposals for Further Amendments / 646

CHAPTER 19
The Anti-Tax-Avoidance Directive (ATAD) / 653
Daniël Smit
19.1 Introduction and Background: an Ambitious EU Agenda Beyond BEPS / 653
19.2 History, Objective, Scope and Main Features of the ATAD / 655
19.2.1 Adoption of the ATAD: Politically Controversial, but Eventually Feasible / 655
19.2.2 De Minimis-Standard and “Menu of Options”; Intra-EU Fragmentation Risk NotSolved / 656
19.2.3 Creation of Taxpayer Duties Instead of Taxpayer Rights; A Clash Between EU And Tax Treaty Norms; Conforming Interpretation / 657
19.2.4 Personal Scope; Corporate Tax Liability as the Gateway / 659
19.2.5 Substantive and Territorial Scope: Distinction Between Member States and Third Countries not Always Clear / 661
19.3 Assessment of the ATAD in the Light of the TFEU Freedoms: a Rather Complex Exercise / 662
19.4 The Four Specific Anti-Tax Avoidance Rules (SAARs) / 664
19.4.1 The Earnings Stripping Rule / 664
19.4.1.1 Introduction and Background / 664
19.4.1.2 Scope of the Rule: Exceeding Borrowing Costs minus 30% EBITDA = Non Deductible / 667
19.4.1.3 Exceptions to the Interest Limitation Rule / 669
19.4.1.4 Compatibility with the TFEU Freedoms / 671
19.4.2 The Exit Tax and Tax Base Step-Up Rule / 672
19.4.2.1 Introduction and Background / 672
19.4.2.2 Exit Tax and Tax Base Step-Up, but Mutual Recognition of Market Value Bridge too Far / 673
19.4.2.3 An Alarming Lack of Definitions and Over-and Under-Inclusiveness / 674
19.4.2.4 The Intra-EU/EEA Option for Stagged Recovery: a Curse in Disguise? / 677
19.4.2.5 Valuation Mismatches: the Real BEPS-Issue Left Unsolved / 679
19.4.3 The CFC-Rule(s) / 679
19.4.3.1 Introduction and Background / 679
19.4.3.2 Three Cumulative Proxies: CFC, Effectively Low-Taxed, Bad Income / 680
19.4.3.3 The Full-Fledged CFC-Rule and The Light (Quasi) CFC-Rule / 682
19.4.3.4 The “Substance”-Escape under the Full-Fledged CFC-Rule / 683
19.4.3.5 Income Attribution and Double Taxation Relief (Add-back & Credit) / 687
19.4.4 The Hybrid Mismatch Rule / 688
19.4.4.1 Introduction and Background / 688
19.4.4.2 Deduction without Inclusion (D/NI) Mismatches / 690
19.4.4.3 Double Deduction (DD) Mismatches / 694
19.4.4.4 A Final Backstop against “Import of Mismatches” / 695
19.4.4.5 Tax Liability “Always Somewhere”: Effective, but Questionable in the Light of Source Country Entitlement / 696
19.5 The Mandatory General Anti-Tax Avoidance Rule (GAAR) for Corporate Taxation / 696
19.5.1 Introduction and Background; a Single European Abuse of Law Concept / 696
19.5.2 Mandatory Harmonisation of National Corporate Taxation GAARs(?) / 697
19.5.3 The GAAR tests / 699
19.5.3.1 Artificiality / 700
19.5.3.2 Motive / 701
19.5.3.3 Defeat of Object or Purpose of the Applicable Tax Law / 703
19.5.3.4 The Burden of Proof / 704
19.5.4 Compatibility with the TFEU Freedoms / 704
19.6 Implementation and Temporal Scope / 704
19.7 A Final Chord? / 706

CHAPTER 20
Tax Aspects of the European Economic Interest Grouping, the European Company and the European Cooperative Society / 707
Update by Frederik Boulogne, Mariken van Hilten and Peter Wattel
20.1 Introduction; European Legal Forms for Business: EEIG, SE, SCE (and SPE)
20.2 General Legal Aspects of the EEIG / 709
20.3 Tax Aspects of the EEIG / 710
20.3.1 Direct Taxes / 710
20.3.2 Indirect and Payroll Taxes / 712
20.4 General Legal Aspects of the Societas Europaea (SE) / 713
20.5 Tax Aspects of the Societas Europaea / 715
20.5.1 Direct Taxes / 715
20.5.2 Indirect Taxes / 718
20.6 The European Cooperative Society / 721

CHAPTER 21
The Settlement of Cross-Border Tax Disputes in the European Union / 723
Pasquale Pistone
21.1 Cross-border tax disputes: from none to up to four types of legal instruments for their settlement / 723
21.2 Brief historical overview / 725
21.3 Legal basis / 729
21.4 The relations between the legal instruments / 731
21.5 Scope / 736
21.5.1 General issues / 736
21.5.2 Personal scope / 737
21.5.3 Substantive scope / 738
21.5.4 Objective scope / 739
21.5.5 Territorial scope / 740
21.5.6 Additional interpretative issues / 741
21.6 The procedures / 743
21.6.1 The mutual agreement procedure / 743
21.6.1.1 General issues / 743
21.6.1.2 Access to the mutual agreement procedure / 744
21.6.1.3 The unilateral phase / 745
21.6.1.4 The consultation phase / 748
21.6.1.5 The final phase / 751
21.6.2 Arbitration / 753
21.6.2.1 Introductory remarks / 753
21.6.2.2 The appointment and composition of the panel / 754
21.6.2.3 The rules of functioning / 757
21.6.2.4 The modes of arbitration / 758
21.6.2.5 The involvement of the affected person(s) in the procedure / 760
21.6.2.6 Confidentiality of the proceedings / 762
21.6.2.7 The decision / 763
21.6.2.8 The derogations / 765
21.6.2.9 Cost of the proceedings / 767
21.7 The relations with domestic judicial procedures / 768

CHAPTER 22
Company tax proposals and tax policy initiatives / 771
Maarten de Wilde
22.1 Introduction / 771
22.2 Commission Communication ‘Business Taxation for the 21st Century’ / 771
22.2.1 General remarks / 771
22.2.2 International developments as a driving force for advancing the EU agenda / 774
22.2.3 Megatrends desire comprehensive EU agenda / 775
22.2.4 Pillar One and Pillar Two measures sort for unitary taxation and minimum rate harmonisation / 776
22.2.5 Commission’s ambitions extend further / 776
22.3 Developments in follow-up to the Communication ‘Business Taxation for the 21st Century’ / 780
22.3.1 European Commission proposals for Directives Unshell and Pillar Two and Own Resources Package / 780
22.3.2 Pillar Two / 782
22.3.3 Unshell / 789
22.3.4 Own resources / 795
22.4 Final remarks / 799

CHAPTER 23
Harmful Tax Competition and the Code of Conduct for Business Taxation / 801
Servaas van Thiel
23.1 Introduction / 801
23.2 How the Code works in practice: criteria and review process / 802
23.2.1 The Code criteria / 802
23.2.2 The Code’s review process / 803
23.3 Outcome on stand-still and roll back / 805
23.3.1 Harmful tax measures of Member States and their territories / 805
23.3.2 From review of individual tax measures to multi-country policy-making / 807
23.4 The work of the Group on horizontal issues / 809
23.4.1 Broadening the scope of the work of the Code Group / 809
23.4.2 Cross border Tax Rulings and APA / 809
23.4.3 EU-inbound and outbound profit transfers / 811
23.4.4 Cross border mismatches / 813
23.5 Third Country Issues / 814
23.6 Conclusions / 817

PART 4
Exchange of Information and Recovery Assistance / 821
CHAPTER 24
Exchange of Information and Recovery Assistance: Background, History and Legal Basis / 823
Sigrid Hemels
24.1 Introduction / 823
24.2 The Need for Cross-Border Administrative Cooperation in Tax Matters / 823
24.3 OECD Initiatives before the Financial Crisis / 825
24.4 EU Mutual Assistance Initiatives before the Financial Crisis / 826
24.5 Poor Results, Failing the OECD Standard; Revised Directives on Recovery Assistance (2012) and Administrative Cooperation (2013) / 828
24.6 Influence of BEPS on the DAC / 829
24.7 Legal Basis: ‘Internal Market’ or ‘Fiscal’? / 831

CHAPTER 25
The Directive on Administrative Cooperation / 835
Sigrid Hemels
25.1 Introduction / 835
25.2 General Provisions; Minimum Standard; Language, Scope and Organisation / 837
25.2.1 Taxes Covered; Not Just Direct Taxes / 838
25.2.2 Personal Scope; Anyone or Anything Subject to Tax / 839
25.2.3 Objective Scope: ‘Foreseeably Relevant’ Information / 839
25.2.4 Channel of Exchange / 843
25.2.5 Temporal Scope / 843
25.3 Three Types of Exchange of Information / 844
25.3.1 Mandatory Exchange upon Request / 844
25.3.2 Mandatory Automatic Exchange / 846
25.3.2.1 Available Information on Specific Categories of Income and Capital (Art. 8(1)) / 846
25.3.2.2 The Common Reporting Standard (CRS): Information on Foreign Account Holders and Their Accounts to be reported by Financial Institutions
(DAC2) / 847
25.3.2.3 Mandatory Automatic Exchange of Information on Advance Cross-Border Rulings and Advance Pricing Arrangements (DAC3) / 851
25.3.2.4 Country-by-Country Reporting (DAC4) / 855
25.3.2.5 Reporting Obligations for Digital Platforms (DAC7) / 860
25.3.2.6 Proposed exchange of information on entities in scope of the Unshell Directive (ATAD3) / 864
25.3.2.7 Possible Proposal for Exchange of Information on Cryptoassets and E-Money (DAC8) / 865
25.3.3 Spontaneous Exchange / 867
25.4 Admission of Foreign Officials / 868
25.5 Simultaneous Controls / 869
25.6 Joint Audits / 869
25.7 Notification of Foreign Decisions and Instruments / 871
25.8 Access to Anti-Money-Laundering Information, Including Information on Ultimate Beneficial Owners (DAC5) / 872
25.9 Disclosure, Use and Forwarding of Information Obtained / 873
25.10 Grounds for Refusal of Cooperation / 875
25.10.1 Non-Exhaustion of Appropriate Domestic Means / 875
25.10.2 Lack of Domestic Legal Basis / 876
25.10.3 Lack of Reciprocity / 877
25.10.4 Protection of Commercial Secrets / 877
25.10.5 Protection of the Ordre Public / 877
25.11 Penalties / 878
25.12 Taxpayers’ Judicial Protection / 879
25.12.1 No Right to Be Involved / 880
25.12.2 Right to Legal Remedy / 882
25.13 Data Protection / 884
25.14 Confidentiality Obligation of the European Commission / 887
25.15 Information Overload? / 888

CHAPTER 26
Mandatory Disclosure: the Contribution of DAC6 to the Common EU System of Mutual
Assistance in Tax Matters / 891
Pasquale Pistone
26.1 Introduction / 891
26.2 The Objective Scope / 894
26.3 The Subjective Scope / 895
26.4 The Hallmarks / 898
26.5 The Legal Professional Privilege / 903

CHAPTER 27
The Recovery Assistance Directive (RAD) / 905
Pasquale Pistone
27.1 Introduction / 905
27.2 History / 906
27.3 Scope and Mechanisms / 907
27.4 Types of Recovery Assistance / 910
27.5 Other Rules / 911

CHAPTER 28
Concurrence Rules / 913
Sigrid Hemels
28.1 Introduction / 913
28.2 DAC and RAD / 913
28.3 MCMAATM Convention and EU Rules / 913
28.4 Domestic Law, Bilateral or Multilateral (Tax) Treaties and EU Rules / 915

Index / 917
Table of Cases / 933

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