Towards A Neutral Formulary Apportionment System In Regional Integration
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Towards A Neutral Formulary Apportionment System In Regional Integration
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Author : Shu-Chien Chen
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2023-03-09
Towards A Neutral Formulary Apportionment System In Regional Integration written by Shu-Chien Chen and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-09 with Law categories.
International tax regimes and practices are heavily criticized for failing to fairly levy corporate tax on giant multinational taxpayers in the current globalized and digitalized world. This important and far-seeing book demonstrates how formulary apportionment (FA) – an approach by which a multinational corporation pays each jurisdiction’s corporate tax based on the share of its worldwide income allocated to that jurisdiction – can achieve the much-sought goal of aligning value creation and taxation. The author, through an intensive analysis of the European Union’s (EU’s) Common Consolidated Corporate Tax Base (CCCTB) Directive Proposal(s) and comparison to the United States (US’s) formulary apportionment experience, shows how the perceived problems with an FA system can be overcome and lays out the necessary elements for its feasibility. With detailed attention to the debates around formulary apportionment and its theoretical foundations, the book provides a blueprint for rebuilding the normative framework for the EU’s tax reform by clearly analysing the implications of the following and more: theorising public benefits to be represented by taxation; reorganising different economic theories about tax neutrality and tax justice; advancing the comparative legal research methodology to analyse law reform by combining the functional approach and the problem-solving approach; designing the logical formulary apportionment system for digital economy; ensuring the removal of the incentive for multinationals to shift reported income to low-tax locations; reducing the tax system’s complexity and the administrative burden it imposes on firms; eliminating transfer pricing complexity for intra-firm transactions; achieving equal weighting of the sales factor, the labour factor, and the asset factor in the formula; application of ‘destination-based’ rule for attributing the sales factor; and replacing the traditional permanent establishment nexus with a ‘factor presence nexus’. The presentation incorporates extensive comparison between the EU’s formulary apportionment tax reform option and FA systems existing in the United States (US) at state level, including reference to relevant US case law and legislation. As a possible option to address the problem of base erosion and profit shifting (BEPS), formulary apportionment is gaining increasing acceptance and attention. This book will prove invaluable to taxation authorities, tax practitioners, and scholars in its deeply informed and systematic guidance on good practices and prevention of problematic experiences in establishing and implementing an effective and market-neutral FA system.
Towards A Neutral Formulary Apportionment System In Regional Integration
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Author : Shu-Chien Chen
language : en
Publisher:
Release Date : 2023
Towards A Neutral Formulary Apportionment System In Regional Integration written by Shu-Chien Chen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
The traditional international tax regime faces challenges in the digital economy and is criticised for not fairly allocating taxing rights over the profits of multinational enterprises (MNEs)' cross- border economic activities. Allocating taxing rights based on value creation is an urgent reform imperative. OECD's Base Erosion and Profit Shifting (BEPS) project in 2015 is a reform effort to address this problem.Since 2021, OECD's Pillar One has established the “new” taxing rights of the market jurisdiction. OECD's Pillar One uses a formula approach to decide the profit allocation. Such development shows that “formulary apportionment” (FA) could be a feasible option for tax reform. However, the core question remains: How should a fair FA be designed to allocate taxing rights? The article especially discusses the FA system in the European Union (EU). The full text is at https://pure.eur.nl/ws/portalfiles/portal/83033157/Towards_a_neutral_formulary_apportionment.pdf.
Are Uniformity And Legal Certainty In Eu Tariff Classification Really Two Sides Of The Same Coin
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Author : Emma van Doornik
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2025-03-25
Are Uniformity And Legal Certainty In Eu Tariff Classification Really Two Sides Of The Same Coin written by Emma van Doornik and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-03-25 with Law categories.
Goods imported to any EU Member State are subject to tariff rates determined by a multilayered classification sys-tem that challenges both uniformity and legal certainty in the EU. The thorough research undertaken in the book – the first incisive, in-depth treatment of EU tariff classification – uncovers situations where the application of the rules prioritizes uniformity at the expense of legal certainty and proposes viable measures that can be undertaken to mitigate and/or effectively remedy the consequences of this imbalance in the EU. Aspects of EU tariff classification such as the following are discussed: the problematic nature of the EU’s Binding Tariff Information (BTI) system; financial interests of the EU, Member States, and traders in tariff classification; difficulty of tariff classification due to the abundance of sources; role of the CJEU in uniform tariff classification; grounds for the revocation of a BTI; post-clearance recovery of duties; right of access to court in case of tariff classification disputes; and potential establishment of an EU tariff classification Appeal Body. The author clearly describes potential improvements to EU tariff classification measures and procedures that could effectively remedy infringements of legal certainty and at the same time could increase uniformity. Of value to practitioners and policymakers in tax law and customs law, as well as to academics in those fields, the book’s comprehensive description of the layered structure of tariff classification and its extensive discussion of taxpayers’ rights in EU customs law will greatly assist in presenting customs-related cases before national and EU courts with awareness of the legal remedies available. Customs officials will benefit from its thorough guidance on EU tariff classification practices and the BTI system.
International Juridical Double Taxation From An Ability To Pay Perspective Under Eu Law
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Author : Maria Júlia Ildefonso Mendonça
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2023-01-22
International Juridical Double Taxation From An Ability To Pay Perspective Under Eu Law written by Maria Júlia Ildefonso Mendonça and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-22 with Law categories.
The hurdles emerging from the parallel exercise of Member States’ tax sovereignty have been examined by the CJEU and intensely discussed by scholars. By uncovering a paradox in the CJEU’s case law, this groundbreaking book provides a constructive alternative to the deadlock created by the CJEU when ruling that international juridical double taxation, although constituting an obstacle to free movement, is not contrary to EU law. The book – the first in-depth treatment of this perspective – enables taxpayers facing international juridical double taxation to understand how their ability to pay is protected under EU law and the limitations that protection faces. Every aspect of the matter is rigorously examined, including the following: important differences between the traditional notion of double taxation and the current definition under Council Directive 2017/1852; legal means and methods designed to eliminate international juridical double taxation and the policies underlying them; freedoms of movement as prohibitions that limit the exercise of Member States’ taxing powers; consideration of expenses related to economic activity and personal and family circumstances; and in-depth discussion of taxation of income derived from source versus residence Member State. Throughout the book, the author refers to the case law of the CJEU on both international juridical double taxation and taxpayers’ ability to pay, as well as the relevant academic literature, allowing the reader to understand the current state of EU law on these matters and their relation. The author’s remarkable venture into this challenging field, with a deeply informed construction of instrumental categories and critical review of their content, culminates with a viable reformulation of the serious and growing problem of international juridical double taxation. The book will be welcomed by taxation professionals in practice, policymakers, and academia.
Tributa O Do Rendimento Das Empresas No Contexto Da Economia Digitalizada Uma An Lise Do Conceito De Cria O De Valor E Da Perspetiva De Regresso Tributa O Na Fonte
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Author : Marta Costa Santos
language : pt-BR
Publisher: Leya
Release Date : 2025-01-23
Tributa O Do Rendimento Das Empresas No Contexto Da Economia Digitalizada Uma An Lise Do Conceito De Cria O De Valor E Da Perspetiva De Regresso Tributa O Na Fonte written by Marta Costa Santos and has been published by Leya this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-01-23 with Law categories.
O presente estudo tem por objeto a análise da tributação das atividades digitais levadas a cabo pelas empresas (a título principal ou complementar) no contexto da atual economia digitalizada, que se baseia em ativos intangíveis, no uso maciço de dados, na utilização generalizada de modelos de negócios multifacetados, capturando valor das externalidades geradas pela participação dos utilizadores. Partindo das idiossincrasias daquela atividade económica e do seu contexto, em articulação com a dogmática do direito tributário, e tomando por referência as diversas propostas que a experiência comparada tem adotado e a doutrina tem formulado, a Autora aponta soluções para a tributação do rendimento da atividade digitalizada, à luz dos princípios fundamentais da capacidade contributiva e da justa repartição dos encargos públicos, em profunda articulação com o princípio do benefício.
The Allocation Of Multinational Business Income Reassessing The Formulary Apportionment Option
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Author : Richard Krever
language : en
Publisher:
Release Date : 2020-02-20
The Allocation Of Multinational Business Income Reassessing The Formulary Apportionment Option written by Richard Krever and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-20 with categories.
The Allocation of Multinational Business Income: Reassessing the Formulary Apportionment Option Edited by Richard Krever & François Vaillancourt Although arm's length methodology continues to prevail in international taxation policy, it has long been replaced by the formulary apportionment method at the subnational level in a few federal countries. Its use is planned for international profit allocation as an element of the European Union's CCCTB proposals. In this timely book - a global guide to formulary apportionment, both as it exists in practice and how it might function internationally - a knowledgeable group of contributors from Australia, Canada, the United Kingdom and the United States, address this actively debated topic, both in respect of its technical aspects and its promise as a global response to the avoidance, distortions, and unfairness of current allocation systems. Drawing on a wealth of literature considering formulary apportionment in the international sphere and considering decades of experience with the system in the states and provinces of the United States and Canada, the contributors explicate and examine such pertinent issues as the following: the debate about what factors should be used to allocate profits under a formulary apportionment system and experience in jurisdictions using formulary apportionment; application of formulary apportionment in specific sectors such as digital enterprises and the banking industry; the political economy of establishing and maintaining a successful formulary apportionment regime; formulary apportionment proposals for Europe; the role of traditional tax criteria such as economic efficiency, fairness, ease of administration, and robustness to avoidance and incentive compatibility; determining which parts of a multinational group are included in a formulary apportionment unit; and whether innovative profit-split methodologies such as those developed by China are shifting traditional arm's length methods to a quasi-formulary apportionment system. Providing a comprehensive understanding of all aspects of the formulary apportionment option, this state of the art summary of history, current practice, proposals and prospects in the ongoing debate over arm's length versus formulary apportionment methodologies will be welcomed by practitioners, policy-makers, and academics concerned with international taxation, all of whom will gain an understanding of the case put forward by proponents for adoption of formulary apportionment in Europe and globally and the counter-arguments they face. Readers will acquire a better understanding of the implications of formulary apportionment and its central role in the current debate about the future of international taxation rules.
Efficient Economic Rent Taxation Under A Global Minimum Corporate Tax
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Author : Mr. Shafik Hebous
language : en
Publisher: International Monetary Fund
Release Date : 2024-03-15
Efficient Economic Rent Taxation Under A Global Minimum Corporate Tax written by Mr. Shafik Hebous and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-15 with Business & Economics categories.
The international agreement on a corporate minimum tax is a milestone in global corporate tax arrangements. The minimum tax disturbs the equivalence between otherwise equivalent forms of efficient economic rent taxation: cash-flow tax and allowance for corporate equity. The marginal effective tax rate initially declines as the statutory tax rate rises, reaching zero where the minimum tax is inapplicable, and increases thereafter. This kink occurs at a lower statutory rate under cash-flow taxation. We relax the assumption of full loss offset; provide a routine for computing effective rates under different designs; and discuss policy implications of the minimum tax.
Tax Notes International
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Author :
language : en
Publisher:
Release Date : 2004
Tax Notes International written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Double taxation categories.
Taxing Profit In A Global Economy
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Author : Michael P. Devereux
language : en
Publisher: Oxford University Press
Release Date : 2020-09-29
Taxing Profit In A Global Economy written by Michael P. Devereux and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-29 with Business & Economics categories.
1:Introduction 2:Key issues in taxing profit 3:The current international tax system 4:Fundamental reform options 5:Basic choices in considering reform 6:Residual profit allocation by income 7:Destination-based cash flow taxation.
Dimensions Of Tax Design
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Author : James A. Mirrlees
language : en
Publisher: Oxford University Press
Release Date : 2010-04-29
Dimensions Of Tax Design written by James A. Mirrlees and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-29 with Business & Economics categories.
The goal of the Mirrlees Review has been to identify what makes a good tax system for an open developed economy in the 21st century and to suggest how the UK tax system could be reformed to move in that direction. As an integral part of the Review, this volume brings together thirteen studies of different dimensions of tax design, plus associated commentaries. These were commissioned from IFS researchers and other international experts, to be of interest and value in their ownright, as well as to provide inspiration for the final report of the Review, which is published as a separate volume, Tax by Design.The Commission's work was directed by:Tim BesleyRichard BlundellMalcolm GammieJames PoterbaThe Commission's editorial team:Stuart AdamStephen BondRobert ChotePaul JohnsonGareth Myles