Intertax最新文献

{"title":"Policy Note: Is the Inheritance and Gift Tax a Reasonable Alternative for the Net Wealth Tax?: A Legal and Economic Analysis Across OECD Countries","authors":"Anna-Maria Anderwald, Rainer Niemann","doi":"10.54648/taxi2022048","DOIUrl":"https://doi.org/10.54648/taxi2022048","url":null,"abstract":"Net wealth taxes are one of the most controversial topics in taxation. Strained government finances due to the Covid-19 pandemic and the increasing inequality in the distribution of wealth are fuelling this debate. While some countries (especially France: The net wealth tax – referred to as the ISF (impôt sur la fortune) – was abolished in 2017) have abolished net wealth taxes, their (re)introduction is being considered in others (for example, Austria, Germany, and the United States). Unfortunately, legal and economic arguments are rarely brought together in the public discussion, and the academic tax community has remained relatively quiet. Given the politically delicate nature of net wealth taxes, an interdisciplinary discussion seems necessary.\u0000This policy note focuses on the policy discussion on net wealth taxes from both economic and legal perspectives. It begins by identifying the characteristics of a net wealth tax compared to related taxes, such as property taxes and inheritance and gift taxes (Chapter I.). This is followed by an overview of the status quo of net wealth taxes and wealth-related taxes in the OECD (Organisation for Economic Cooperation and Development) countries (Chapter II.). Building on this, the article deals with the main arguments proposed in the literature in favour of and against the (re)introduction of net wealth taxes (Chapter III.). Since a net wealth tax has far-reaching effects on economic decision-making and on taxpayer compliance, a purely legal analysis is necessarily incomplete and requires an economic counterpart. Likewise, economically motivated tax reform proposals require an analysis of their legitimacy. A comprehensive discussion therefore requires a simultaneous legal and economic analysis.\u0000Since net wealth taxes are predominantly justified with distributional reasons, this note also discusses whether an inheritance and gift tax represents a reasonable alternative to a net wealth tax (Chapter IV.). After all, an inheritance and gift tax could also counteract the inequality of wealth. The objective of this article is to provide an interdisciplinary basis for the tax policy debate on wealth-related taxes.\u0000Wealth tax, gift tax, inheritance tax, wealth-related tax, valuation, enforcement, compliance cost, redistribution, international comparison, competitive advantage","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46556402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Country Note: A Critical Approach on the Greek Implementation of the DAC6","authors":"P. Pantazopoulos, Katerina Kalampaliki","doi":"10.54648/taxi2022047","DOIUrl":"https://doi.org/10.54648/taxi2022047","url":null,"abstract":"The article provides a critical description of the main points of the Mandatory Disclosure Rules (MDR) in Greece following the implementation of the DAC6, specifically, what must be reported, who is responsible for it, the applicable penalties, and the deadlines for reporting. In parallel, certain issues of legal uncertainty arising from the ambiguous terms and concepts contained in the rules mentioned previously that need to be clarified are further analysed. In addition, the compatibility of the indicated Greek provisions mirroring, to a great extent, the content of the Directive with the fundamental freedoms and rights is examined.\u0000Greece, DAC6, Reportable Cross-Border Arrangements, Intermediaries, Penalties","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47773409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Critical Review Of The Atad Implementation: The Implementation of the ATAD in Italy","authors":"P. Arginelli","doi":"10.54648/taxi2022050","DOIUrl":"https://doi.org/10.54648/taxi2022050","url":null,"abstract":"The objective of the present contribution is to pinpoint the specificities of the Anti-Tax Avoidance Directive (ATAD) implementation rules in Italy, with a particular regard to the exercise of the different options provided by the Directive. That implementation has mainly taken the form of amendments to existing provisions (re Controlled foreign company (CFC), exit tax, interest deduction) with only a completely new set of rules (hybrid mismatch arrangements). For the general anti-abuse rule, the choice made has been to regard that rule as substantially overlapping with the Italian general anti-abuse rule (GAAR) and, therefore, not requiring any specific implementation. The result of this approach has been that taxpayers, tax authorities, and courts have been sledging comfortably into the new regimes without any significant discontinuity with the past, except for the hybrid mismatch regulation. In addition, the way in which Italy implemented the ATAD has proved rather conservative and appears largely compliant with the Directive. That notwithstanding, the most relevant departures from the ATAD are highlighted and discussed with a view to establish their compatibility with the EU legal order. Finally, the contribution examines the possible consequences stemming from the technique adopted to implement the Directive general anti-abuse rule and scrutinises the areas where tax litigations could more easily occur in the future.\u0000ATAD, CFC, hybrid mismatch arrangements, interest limitation rule, exit tax, CJEU, GAAR, abuse of tax law, EU law, Italy","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44820013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Literature Review: Environmental Taxation in the Pandemic Era: Opportunities and Challenges, Hope Ashiabor, Janet E. Milne & Mikael Skou Andersen eds, Edward Elgar. 2021","authors":"Tatiana Falcão","doi":"10.54648/taxi2022053","DOIUrl":"https://doi.org/10.54648/taxi2022053","url":null,"abstract":"","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41648057","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Case Law Trends: Just a Formality!: Substance over Form in EU VAT and the Right to Deduct Input VAT","authors":"Madeleine Merkx","doi":"10.54648/taxi2022051","DOIUrl":"https://doi.org/10.54648/taxi2022051","url":null,"abstract":"When it comes to the right to deduct input tax, substance in principle takes precedence over form. The CJEU has already ruled several times that the fundamental principle of the neutrality of VAT requires that if the substantive conditions for the right of deduction are met, this right can be exercised even when certain formal conditions are not met. In this article the author addresses recent case law of the CJEU on the distinction between formal and substantive conditions for the exercise of the right of deduction and the right to refund. The following topics are addressed: (1) Incorrect or incomplete invoices, (2) mistakes and refunds under Directive 2008/9/EC, (3) including an asset in the business assets and (4) VAT deduction in the event of late filing of intra-Community acquisitions. The recent CJEU cases will be analysed in the light of previous and pending case law providing the reader with an overview of the current situation.\u0000formality, substantive condition, deduction, refund, invoice, VAT fraud, business assets, intracommunity acquisition, neutrality principle, principle of proportionality","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41844430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Literature Review: Craig Eliffe, Taxing the Digital Economy, Theory, Policy and Practice, Cambridge University Press. 2021","authors":"Marie Lamensch","doi":"10.54648/taxi2022052","DOIUrl":"https://doi.org/10.54648/taxi2022052","url":null,"abstract":"","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47528837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Article: What’s in a Name?: The Classification of ‘Interest’ on Crypto-assets in South Africa and Beyond","authors":"Shaun Parsons","doi":"10.54648/taxi2022054","DOIUrl":"https://doi.org/10.54648/taxi2022054","url":null,"abstract":"Decentralized finance (DeFi) represents a specific application of crypto-asset technology that has made significant advancements in adoption. While academic tax literature has focused on basic crypto-asset transactions, the tax consequences of DeFi transactions have been much less frequently explored. This study considers whether income or expenditure arising in specific DeFi transactions might be classified as interest in terms of South African income tax legislation as well as within the international tax context. Classification as interest has significant implications. Within South African domestic legislation, it impacts the determination of source, quantification of amounts, timing of recognition, application of exemptions, and imposition of withholding tax. Internationally, it has implications for the determination of jurisdictional taxing rights under double tax agreements. This study proposes that, while historically, interest may have been thought of exclusively as arising in the context of monetary debt, this is not a definitive characteristic of interest. Rather, interest represents remuneration for the provision of capital in the form of a loan principal with a contractual right to repayment. Whether each of these elements is present in the cases of the identified DeFi transactions is inconclusive. The study therefore recommends the provision of guidance to taxpayers by South Africa and other jurisdictions, and supports a coordinated approach among jurisdictions in the determination of income tax outcomes.","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45831559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Article: Uganda’s Tax System: Key Challenges and Prospects for Improvement","authors":"Carmen Bachmann, John Gebhardt, Patrick Kayongo","doi":"10.54648/taxi2022028","DOIUrl":"https://doi.org/10.54648/taxi2022028","url":null,"abstract":"Most studies on tax research have focused on the developed countries, and those on developing countries concentrate on subjects of general application. As a result, research on many aspects of tax applicable to low-income countries (LICs) has been neglected. By presenting an in-depth analysis of Uganda’s tax system, this study seeks to address this gap. The authors analysed panel data spanning over seventeen years to identify the key system gaps. The findings revealed that Uganda’s tax system conforms to the generally accepted international standards, and its economic performance during the period was above the regional sub-Sahara Africa (SSA) average. However, tax revenue performance still remains poor. The main reasons include: unrealistic tax expenditures, corruption, poor governance, low tax morale, overdependence on international trade tax revenues, and structural system weaknesses. To address those challenges, mitigation measures including creating a firm and all-inclusive political settlement; enforcing anti-corruption measures; streamlining the tax system to eliminate system inefficiencies; and systematically formalizing the agricultural and informal sectors to widen the tax base are proposed. It is hoped that the findings provide valuable insights to tax policymakers in formulating policies for improving revenue performance in Uganda and related LICs.\u0000Uganda, taxation, tax system, tax reform, tax challenges, revenue mobilization, revenue performance, low-income countries, corruption, political settlement.","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43437442","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Debate: Is There A Need for A Directive on Pillar 2? A Few Normative Comments","authors":"W. Haslehner","doi":"10.54648/taxi2022057","DOIUrl":"https://doi.org/10.54648/taxi2022057","url":null,"abstract":"Poland’s request to link the entry into force of the Pillar 2 Directive to an international agreement on Pillar 1 raises fundamental questions about the European constitutional structure. Beyond the mere legality of such a link, this contribution seeks to respond to some normative concerns related to the creation of such secondary legislation.\u0000Pillar 2 Directive, principle of autonomy, principle of primacy, European sovereignty, EU legal order, international tax agreement, treaty override, EU external relations, EU competence, subsidiarity, proportionality","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48467138","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Debate: Is There A Need for A Directive on Pillar Two?","authors":"A. P. Dourado","doi":"10.54648/taxi2022056","DOIUrl":"https://doi.org/10.54648/taxi2022056","url":null,"abstract":"A legally binding link for a simultaneous implementation of Pillars One and Two in the European Union (EU), as requested by one Member State, has not been accepted by the French Presidency. The author contends that a legal link between the Directive on Pillar Two and international developments is not incompatible with European sovereignty. This is so, for several reasons: (1) the competence for implementing the minimum tax foreseen by Pillar Two is not exclusive to the EU; (2) the principle of primacy would not impede the EU harmonization on Pillar Two being made dependent upon the evolution of the international agreements on the topic; (3) taking into account the developments of Pillar Two and the contents of the proposal for a Directive, it is dubious that a Directive is necessary for fulfilling the requirements of the internal market; (4) the interaction among all the instruments, exceptions, deferrals, and options foreseen in the model rules, in the original Proposal and the concessions may lead to multiple regimes. The latter can be achieved by the national transposition of the model rules.\u0000Pillar Two Directive, principle of autonomy, principle of primacy, European sovereignty, EU legal order, international tax agreement, treaty override, EU external relations, EU competence, subsidiarity, proportionality","PeriodicalId":45365,"journal":{"name":"Intertax","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47042815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}